High Performance Cat Insurance

[Nail It]

I can't be the only one who has had their premium renewal shoot thru the roof. I've owned boats since I was 16, had cats for over 8 years with no claims. Been with the same company for 8 years, had the same policy with the same boat for over 5 years. No changes have been made, I'm 35 years old with a squeaky clean driving record. The boat is a 26' cat with 700hp rated speed of 100mph, nothing has changed either. Last years policy was $1400, the renewal for this year just came in the mail for $2100 my jaw hit the floor WTF.

 

[zx14]

B.O.A.T.

 

[n2otoofast4u]

I was in nearly the exact same situation. Mine went up almost $800. I was with EP, and now with Brad Stern. Both were written with Foremost, but Stern got me a better rate. It’s still way more than it was last year!

 

[Shrub Lurker]

Hello State Farm

 

[Nail It]

I have State Farm for my auto, home, RV and everything else. But, they won't insure air entrapment hulls. My current policy is also thru Foremost. Guess it is time to start shopping. I figured I wasn't the only one.

 

[throttle]

I would make a recommendation to do a check up. May need to try a new prop.

Ok, seriously tho, I think most of us have been thru this several times before. Before selling my last boat, my rates had increased as you explained. I called my broker and said I need some personal time and attention to check my rate and I will be shopping around, just FYI. That was my straight up with him, he came thru and it was re written. Sometimes programs change and new ones are offered. An insurance check up is a good idea every 18-23 months IMO.

Give your broker a chance and if they are not willing to work for you on it then do some shopping around for rates.

Gawd, I hate insuring everything [emoji85][emoji23]

BTW, Devin at Wozencraft still handles most of my insurance needs.


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[tunnel vision]

I have State Farm for my auto, home, RV and everything else. But, they won't insure air entrapment hulls. My current policy is also thru Foremost. Guess it is time to start shopping. I figured I wasn't the only one.

Yes they will, I have had three with them, a Sleekcraft and two DCB’s and both DCB’s had twin’s one with Drags and the other twin 300X’s. Both ran over a 100 mph. You have the wrong agent...


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[Nail It]

Yes they will, I have had three with them, a Sleekcraft and two DCB’s and both DCB’s had twin’s one with Drags and the other twin 300X’s. Both ran over a 100 mph. You have the wrong agent...


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I believe you, but how long ago was that?

My buddy still has his 27 daytona with twins insured thru State Farm also. But, his policy was written back in 2007. His agent even said it's because his policy was grandfathered in. Trust me I've tried, but State Farm won't insure air entrapment hulls anymore.

 

[Nail It]

I would make a recommendation to do a check up. May need to try a new prop.

Ok, seriously tho, I think most of us have been thru this several times before. Before selling my last boat, my rates had increased as you explained. I called my broker and said I need some personal time and attention to check my rate and I will be shopping around, just FYI. That was my straight up with him, he came thru and it was re written. Sometimes programs change and new ones are offered. An insurance check up is a good idea every 18-23 months IMO.

Give your broker a chance and if they are not willing to work for you on it then do some shopping around for rates.

Gawd, I hate insuring everything [emoji85][emoji23]

BTW, Devin at Wozencraft still handles most of my insurance needs.


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I agree, so I called and they are looking into it.

 

[GRADS]

Honestly that sounds cheap. My first Daytona in 2006 I was paying $6K a year.

 

[KingofBeers]

I can't be the only one who has had their premium renewal shoot thru the roof. I've owned boats since I was 16, had cats for over 8 years with no claims. Been with the same company for 8 years, had the same policy with the same boat for over 5 years. No changes have been made, I'm 35 years old with a squeaky clean driving record. The boat is a 26' cat with 700hp rated speed of 100mph, nothing has changed either. Last years policy was $1400, the renewal for this year just came in the mail for $2100 my jaw hit the floor WTF.

Call Brad Stern.

 

[Riverryder]

Think it’s part of the game. Seems like you stick with a company for a couple years they jump the price you jump ship and will end up back to your old one after a while. I read somewhere recently someone who does insurance, he basically said there hands are tied after they have you for a while you jump ship to a new company. Then when you go back it’s like you are a new customer so you get a better price.


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[Melloyellovector]

Honestly that sounds cheap. My first Daytona in 2006 I was paying $6K a year.

Right! I’m like if I could get that low on my topcat it would have insurance. Lol
Fuckers want 4K + a year to insure. And that’s with saying hey the motor says 925 so yes it’s 900hp

 

[RiverDave]

Brad Stern (949) 632-4500

 

[tunnel vision]

I believe you, but how long ago was that?

My buddy still has his 27 daytona with twins insured thru State Farm also. But, his policy was written back in 2007. His agent even said it's because his policy was grandfathered in. Trust me I've tried, but State Farm won't insure air entrapment hulls anymore.

2019


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[n2otoofast4u]

2019


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SF wrote one of my Daytona’s at one point as well. But as I got more educated, I started asking more questions, and it was written very clearly in their underwriting rules “no air entrapment hulls”...... I 100% believe you have, or have had policies written through them, but I would hate to think what would happen if a claim was made.

 

[Singleton]

SF wrote one of my Daytona’s at one point as well. But as I got more educated, I started asking more questions, and it was written very clearly in their underwriting rules “no air entrapment hulls”...... I 100% believe you have, or have had policies written through them, but I would hate to think what would happen if a claim was made.

SF had a exception to that policy for select areas (Havasu bring on of those areas). Havasu SF agents were able to bind west coast cat hulls (deckboats and open bows with less then 700hp). The exception was discontinued a few years back, but everyone with an active policy was grandfathered in.

My policy is grandfathered and one of my dads neighbors was head of underwriting for SF and confirmed all this for me.

 

[Teague_JR]

I am also EVERYTHING through state farm. My agent is Jon Sheperd in Pasadena he owns my late father in law's 22 Schiada and is a cool guy so if you're looking for a referral please use him.

Anyways, its ironic they wont consider insuring an air entrapment hull but will insure my Fountain with two blower motors that is for sure a 100 MPH boat for CHEAP with no physical inspection.

Ill just play along I guess!

JT

 

[tunnel vision]

SF wrote one of my Daytona’s at one point as well. But as I got more educated, I started asking more questions, and it was written very clearly in their underwriting rules “no air entrapment hulls”...... I 100% believe you have, or have had policies written through them, but I would hate to think what would happen if a claim was made.

Believe what you want, I did have a claim in 2016 with my Mach 26, no problem...

 

[ONE-A-DAY]

Yes they will, I have had three with them, a Sleekcraft and two DCB’s and both DCB’s had twin’s one with Drags and the other twin 300X’s. Both ran over a 100 mph. You have the wrong agent...


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I’m on my 14th cat with State Farm from a broker in Phoenix, no issues, great rates, mph correctly stated.

 

[575cat]

WIA ins , Lake Ozark , Christy Wright 573 302 0001 she saved me a lot of $$$$ .

 

[Boat 405]

I have a similar setup. Mine was $1300 last year. I’m waiting for the price jump I keep hearing about.

 

[DWC]

Is insurance cheaper if you have a center pod?.. asking for a friend.

 

[Nail It]

So I spoke with my current insurance about this rate hike. She has looked into it and asked me a few questions to update my policy. This is where it gets interesting. When I started my first policy with Foremost 8 years ago, I was single. I got married about 6 years ago and never updated my policy. By only changing that one line item from single to married, it dropped the premium $600 a year. I got rid of the $1500 personal items coverage also and now my premium is $1372 for the year. So it pays to call and ask questions.

 

[Ballyhoo]

My policy is going up from $401 to $658 this year. My agent told me that two companies have backed out of the marine insurance and the industry has taken notice of a high amount of claims from Mohave County/Havasu. They are working on a new quote for me and I will see where that ends up.

In the meantime I am shopping other places.

 

[Todd Mohr]

Mines up 30% this year, players dropping out of performance boating is what I was told. Nothing changed on my end, no tickets, claims, etc.

 

[zx14]

I’m on my 14th cat with State Farm from a broker in Phoenix, no issues, great rates, mph correctly stated.

Who’s your broker?

 

[renodaytona]

Who insures in NV? I had State Farm for a long time but they won't touch "tunnels" anymore. I tried EP, Wozencraft, and Boat US but NONE have gotten back to me.

 

[Boat 405]

I got my renewal this week. No change for me.

 

[RiverDave]

Who insures in NV? I had State Farm for a long time but they won't touch "tunnels" anymore. I tried EP, Wozencraft, and Boat US but NONE have gotten back to me.

Call Brad his information is in the post above

 

[LazyLavey]

I can't be the only one who has had their premium renewal shoot thru the roof. I've owned boats since I was 16, had cats for over 8 years with no claims. Been with the same company for 8 years, had the same policy with the same boat for over 5 years. No changes have been made, I'm 35 years old with a squeaky clean driving record. The boat is a 26' cat with 700hp rated speed of 100mph, nothing has changed either. Last years policy was $1400, the renewal for this year just came in the mail for $2100 my jaw hit the floor WTF.

The perfect customer.... Responsible, good history, pays your premium on time and no claims.. just what they want

You'd think they would reward you!

 

[02HoWaRd26]

These threads make me kinda like my 49Sux. But I’m with SF 25’ cat 425ho at 50k value and like 565$ annually.

 

[ToMorrow44]

WIA ins , Lake Ozark , Christy Wright 573 302 0001 she saved me a lot of $$$$ .

X2! She’s got a great program going for cats right now. Others were quoting me $4-5k/yr, hers came in at $1800 for a 30 Daytona. AND she’s super nice and returns your calls.

 

[Jed-O]

Try owning a tunnel hull under 25'...

 

[Baja 252]

I've always wondered if you can you get a high deductible plan that is liability only for a small tunnel like an STV?