Guideline for determining if you have a good rate
09-08-2008, 10:48 PM
#11
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ttt.
For CAT HULLS use 3% for under 90mph, 4% for 90 - 110mph and 4.5% for 110 - 130mph. If you are paying more, call our office and we'll quote you in a new program.
For the coastal states of FL, LA, SC, TX (Gavelston area) this formula does not apply to you.
Sorry.
For CAT HULLS use 3% for under 90mph, 4% for 90 - 110mph and 4.5% for 110 - 130mph. If you are paying more, call our office and we'll quote you in a new program.
For the coastal states of FL, LA, SC, TX (Gavelston area) this formula does not apply to you.
Sorry.
09-11-2008, 01:52 PM
#13
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Does this count for California?
I was getting roughly 3 times these numbers from Markel for the Top gun 70-80 mph range.
09-11-2008, 05:13 PM
#14
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PM me the year and value or post a reply on here and I'll tell you if it's right or not. This formula holds for CA as well. Everyone has certain circumstances that may drive away from these guidelines. Let's look at it. tAlk to you soon.
09-13-2008, 06:40 PM
#15
VIP Member
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I am shopping for 38 t/s looking in the 175 to 225 k range(Hopefully). 03 or newer. Ballpark difference in the 525 v 575 pricing on ins. I live in OK and inland lakes. But I will make 1 or 2 trips to FLA a year for sure. No lay up. Post or pm and questions.
Thanks, Quinlan
Thanks, Quinlan
09-13-2008, 06:55 PM
#16
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OK... Here is the best thing I can give you all for determining if you have a good rate. It is not 100% accurrate and is a mere guideline, it's not a quote, it's not a promise, it's nothing contractual. There are many factors that can make these guidelines inapplicable to you personally. This is my own personal opinion of where rates should be based upon all the quotes I've done in the past. This is just my assumption of average rates. This should in no way be construed as a representation of any particular carriers rates as I write for many carriers. However, this is the best I can give as a guideline tool:
If you have a V-Hull Performance boat
Under 60 mph:
Take the agreed value of your boat or the Limit of insurance and divide that number by 100 and then multiply the number you get by .65. Your premium should be around this number give or take a couple hundred dollars.
Example Calculation: $100,000/$100=$1000*.65=$650 per year
61-80 mph:
Take the agreed value of your boat or the Limit of insurance and divide that number by 100 and then multiply the number you get by .95. Your premium should be around this number give or take a couple hundred dollars.
Example: $100,000/$100=$1000*.95=$950 per year
81 - 90mph:
Take the agreed value of your boat or the Limit of insurance and divide that number by 100 and then multiply the number you get by 1.10. Your premium should be around this number give or take a couple hundred dollars.
Example: $100,000/$100=$1000*1.10=$1100 per year
90 - 130mph: This classification of boats is VERY different from boat to boat and owner to owner. The rate heavily relies on experience of high speed boats. The more experience, the lower the rate.
Take the agreed value of your boat or the Limit of insurance and divide that number by 100 and then multiply the number you get by 1.25 - 2.00. Your premium should be around this number give or take a couple hundred dollars.
Example: $100,000/$100=$1000*1.25 to 2.00=$1250 to $2000 per year
FOR CAT HULL OWNERS:
If your speeds are 80+mph: Again, this category is highly dependent upon your experience.
Take the agreed value of your boat or the Limit of insurance and divide that number by 100 and then multiply the number you get by 2.5. Your premium should be around this number give or take a couple hundred dollars.
So, again, this is a guideline to help you determine the ballparks. If you calculate what your expected rate should be according to the guideline and you find you are much higher, then please contact me so I can get your information and hopefully try to save you money. Thanks!
If you have a V-Hull Performance boat
Under 60 mph:
Take the agreed value of your boat or the Limit of insurance and divide that number by 100 and then multiply the number you get by .65. Your premium should be around this number give or take a couple hundred dollars.
Example Calculation: $100,000/$100=$1000*.65=$650 per year
61-80 mph:
Take the agreed value of your boat or the Limit of insurance and divide that number by 100 and then multiply the number you get by .95. Your premium should be around this number give or take a couple hundred dollars.
Example: $100,000/$100=$1000*.95=$950 per year
81 - 90mph:
Take the agreed value of your boat or the Limit of insurance and divide that number by 100 and then multiply the number you get by 1.10. Your premium should be around this number give or take a couple hundred dollars.
Example: $100,000/$100=$1000*1.10=$1100 per year
90 - 130mph: This classification of boats is VERY different from boat to boat and owner to owner. The rate heavily relies on experience of high speed boats. The more experience, the lower the rate.
Take the agreed value of your boat or the Limit of insurance and divide that number by 100 and then multiply the number you get by 1.25 - 2.00. Your premium should be around this number give or take a couple hundred dollars.
Example: $100,000/$100=$1000*1.25 to 2.00=$1250 to $2000 per year
FOR CAT HULL OWNERS:
If your speeds are 80+mph: Again, this category is highly dependent upon your experience.
Take the agreed value of your boat or the Limit of insurance and divide that number by 100 and then multiply the number you get by 2.5. Your premium should be around this number give or take a couple hundred dollars.
So, again, this is a guideline to help you determine the ballparks. If you calculate what your expected rate should be according to the guideline and you find you are much higher, then please contact me so I can get your information and hopefully try to save you money. Thanks!
let say you have a 100mph boat were would you have to live to insure it for under 2 k a year ?
let me know if you came up with anything for south florida yet ?
thank's
mike
954-709-7191
11-14-2008, 03:54 PM
#18
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It would really depend on your location but boats that are under 60mph top CAPABLE speed your rate drops to below 1.00 per $100 in coverage. I've seen some come in as low as .65. Really all depends. The market and availability of carrier for boats such as Sea Rays is very large in comparison to the boats with speeds over 70 from what I have seen.
11-14-2008, 04:21 PM
#19
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Glad I went to State farm and got my 60-80 mph boat insured for about $500.00 less than what you have posted on here. Owe and take the boater safety course and get an extra 10% off.
11-15-2008, 01:24 AM
#20
Charter Member # 55
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The nice thing about SF rates is they stay the same from year to year. My rate on my Pantera was the same for 5 years. The rate was about 1% of value per year. The rate on my 32 AT is about 1.2% of value per year.
