Hot Boat

I have state farm for my 1988 28 Scarab. Yes it is only a single engine boat, but if a Baja or Checkmate is blacklisted why not a Scarab. Something dont sound wright.

It is insured for 30k , knowing it will do close to 80 mph and has a custom built 600 hp engine. $500 deductible. cost me $450 a year.

Mack312

2000 312 Formula with 385 454 Mags
Have had State Farm all the way back to 1980.
Started with a 16 foot single then a 24 single
27 twin then the 312.

Also helps a little, have 3 cars, house and other s$$t with them.

$881 a year and a $1000 deduct.

They have been GOOD to me.

jbrauer

I'm with Nationwide. Been there for over ten years through numerous boats, cars, homes, snowmobiles, motorcycles. I'm paying about $1500 for my 30' cat with HP500's.

We've always had a good record on all policies, except I've had a boat totalled when it was hit and by a another boat that was uninsured and powered by beer. Nationwide paid fine.

Longevity with a company seems to make a difference.

33donzidaytona

2000 33 Donzi Daytona 2% deductable and actual value, costs $3.2K/yr. Less than 3 yrs boating exp. though, no claims.

OPIE272

32,000 TRLR INCL WITH 500 DED
Twin 330 7.4 Formula 272 SR1 300 liab. 5k med
$1075 year
American national 417.887-0220

h2owarrior

I've got my AT 37 AVH insured with State Farm, $1,400 per year. Boat has 500 EFI's. Its not the least expensive but I like the agent and have had good luck with respect to claims, none of which have been on boats I've owned. I've been with SF for over 20 years and have my cars and house with them. They do not like insuring the boat, but they do not want to loose the rest of my business, the house, 5 cars and the $1m umbrella

ChristianGott

boat/us...26' sutphen, twin mag 350's.....$880/year.

h2owarrior

formulafastec, You are right about big indusrance companies. They rarely understand the fringe, which we in high perfomrance boating are. What you need is a good agent. I have moved 5 times in the last 10 years, all with the same company. We have stayed with SF through all the moves. What you have to watch out for is agents that do not have the ear of the underwriters. The underwriters are the key to getting your house, car, life or boat insurance from one of these companies. I always check with the agent, how long they have been an agent, what part of SF they came from and if they have experience insuring high performance boats. SF rarely gets agents from outside the company. They are ususally people who have been through several areas within SF. I also let them know the amount I will be insuring.

I did not know this until I already had my first HP boat insured with SF. I had a great agent in ILL (picked him out of the phone book) and he enlightened me to the above. He got it done based on his experience as an underwriter and his relationship with the relevant underwriter.

SF is a great company that does not do boats. Yet if you can get it done they have good rates and will take care of you. You just have to know how to work their system.

Von Bongo

Audio,

It's a statistical fact that if you have a good credit rating, you will have less claims, hence lower rates. The jury is still out on weather it can be the sole rating factor. The whole discrimination thing comes into play.

Also your agent makes a huge difference, believe me. I hear people getting cancelled by this or that company, but I have Home Owners, Truck, Personal Liability and boat all with the same company. My agent loves me, well my check book, but I have never had a problem binding coverage.

I have state farm, and I had the Fountain before the Pantera and never had a problem. I even asked my agent when I bought the new boat, he said not a problem. I mentioned that I had heard of some other people getting cancelled by SF, he said that "I" didn't have to worry about that happening. I was strait up with the performance of the boat.

Since I haven't had a ticket in 15 years and the only claims came from weather related damage, They have made a lot of money off my annual premiums.

GregP

I too have the boat, cars (3) and house all with Nationwide. About $800/year, $50k (purchase price) for 1984 Formula 402. They also had my Donzi Z-29 before. When I first applied for the Donzi I got the letter saying they don't insure boats over 60 mph the same day I got the call from my agent saying he had already taken care of it.

When I bought the Formula he got it approved too, but siad when he asked about the 38 Cig I was also considering they told him no way (actually they told him $3500/year, I took that to mean they weren't interested). Moral is, you need the agent to WANT your business and make sure the underwriters will approve your boat.

Only had one claim so far, $500 for towing when I ran aground on the sand bar this summer (no damage). He paid it from the "office account", didn't even have to submit a claim form, just e-mailed him and sent a copy of the tow bills.

An OT for insurance being idiots, got a letter the other week saying they were canceling my home insurance for fire hazard. They had an "inspector" through in the summer, wrote up a fire hazaard for having a picture frame sitting on a not in use wood stove in the middle of the summer. His report was so stupid I just ignored it. When I got the cancellation I called, all it took was a letter saying their inspector was an idiot (really, that's what it said) and I "promise not to actually RUN the wood stove with anything combustible sitting on top if it". Really dumb thing is the stove does get hot enough to burn you, but it is a zero clearance unit and doesn't get anywhere near hot enough to actually light paper or anything.

-Greg