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INSURANCE........ WTF

n2otoofast4u

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So my 25 Daytona has gone from $1800 last year, to $2500 this year. Nothing has changed, no claims, no reason that I can see.

25 Daytona, WTOB, twin 300ob, 112mph, several years of CAT experience, lots of experience and way higher speeds in boats. Never had a marine claim.

Currently through Andy @ EP, with Foremost.

Seem normal?
 

MrMayhem

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Seems very normal. $2500 for 100+ MPH. Not many options out there.


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ONE-A-DAY

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Thats pretty cheap if the 112 was officially disclosed to them, most people say that their boats dont hit 90 which seems to be the magic number for costs increasing. In my opinion you may as well not insure your boat if your not going to be truthful, any significant claim will be investigated and you will be screwed, thus wasting all those premiums.
 

n2otoofast4u

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Thats pretty cheap if the 112 was officially disclosed to them, most people say that their boats dont hit 90 which seems to be the magic number for costs increasing. In my opinion you may as well not insure your boat if your not going to be truthful, any significant claim will be investigated and you will be screwed, thus wasting all those premiums.

It was absolutely disclosed. As you know, it’s not hard to find history on the boat, and I don’t want any issues.
 

Boat 405

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So my 25 Daytona has gone from $1800 last year, to $2500 this year. Nothing has changed, no claims, no reason that I can see.

25 Daytona, WTOB, twin 300ob, 112mph, several years of CAT experience, lots of experience and way higher speeds in boats. Never had a marine claim.

Currently through Andy @ EP, with Foremost.

Seem normal?

This can't be just a coincidence, but a friend who has a 25', stock 502 power boat goes 75 on a perfect day, his insurance went from $1100 to $2600, zero changes also through Andy and Foremost.
 

gqchris

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That seems Cheap to me. I pay close to that for my boat with a single 300.
 

gqchris

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This can't be just a coincidence, but a friend who has a 25', stock 502 power boat goes 75 on a perfect day, his insurance went from $1100 to $2600, zero changes also through Andy and Foremost.

Yup something is up. I had the same thing happen to my cars. State Farm had like a 40% increase. I Dropped them after 25 years. Sucked, but it was just ridiculous. Went to Geico.
 

braindead

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More idiots causing more accidents

My insurance goes up every year also, gotta pay for all the uninsured idiots.

IMG_1799.JPG
 

RiverDave

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This can't be just a coincidence, but a friend who has a 25', stock 502 power boat goes 75 on a perfect day, his insurance went from $1100 to $2600, zero changes also through Andy and Foremost.

That’s crazy $$ for that. Depending on what it is should be like 600’ish?
 

hallett21

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That’s crazy $$ for that. Depending on what it is should be like 600’ish?

I’m over a grand a year with hallett and 2002 sea doo. I have the liability up pretty high and boat valued at 25k


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Mike K

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I have Foremost too ... mine went up $400 for no reason.
I have no claims and no changes.
I called Foremost ... that was a waste of time.
The new quote I got from Wozencraft was cheaper.
 
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NicPaus

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I have Allstate, my boat insurance has stayed the same but car insurance has almost doubled in 5 years no claims
Same here. Hate to price shop my buddy (agent) but my old 2006 truck worth 5k was over $1200 a year. Lynch said his F450 is like $900 a year. I had a cold call from state farm and asked about 1 truck to compare and it was half.
 

ArizonaKevin

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I have Allstate, my boat insurance has stayed the same but car insurance has almost doubled in 5 years no claims

Just updated the quote we worked on earlier in the year, came down a bit. Let me know if you want me to send it over
 

guest hs

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Foremost just doubled my motorhome policy. My agent canceled it and wrote a new policy with only a $15 increase
 

Deckin Around

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AAA Auto just signed us up for half of what we paid through farmers
 

OldSchoolBoats

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Before we sold the boat, my premium went from $547 to $963

They said because it is stored in AZ.....

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DWC

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Ours just went up $1,000 with All State. Time to start shopping.
 

Shlbyntro

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One word: Hurricanes.

The insurance companies are passing on the costs of all their losses that they've incurred over the past couple of years across the country which are much higher on average than what they have been in years past.

I know Progressive has been hit especially hard as they insure a much larger percentage of boats than most other insurers.
 

LargeOrangeFont

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Before we sold the boat, my premium went from $547 to $963

They said because it is stored in AZ.....

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Jesus. Mine is $300 a year with AAA. Stored in AZ as well.
 

n2otoofast4u

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I called Wozencraft today, and should have a quote back tomorrow (the guy asking questions didn’t seem to know much, but we got through it) as well as left Brad Stern a message, who I’m sure will call me back tomorrow. Hopefully I’ll have some options this week.
 

Melloyellovector

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I use allstate out of agent in Phoenix, they will take cats and 90 mph plus boats, its pretty reasonable, around $2000 a year for the 120 mph Daytona and 41 mph toon.

Post his info up, or pm me
I’m running the conquest uninsured right now, or I was before motor went boom.
Quotes were 3700-5000 per year.
It’s a glorified Suburban on the water that happens to have big power. :D
Known facts- 2001,28ft cat/deck boat, YPM925 with scx drive. I have marine survey.
 

4Waters

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Jesus. Mine is $300 a year with AAA. Stored in AZ as well.
Same here 300 a year with AAA. Insured as a big block even though it has a 305 (they say because it's over 230hp it's a big block:rolleyes:) didn't change.
 

wzuber

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Same here 300 a year with AAA. Insured as a big block even though it has a 305 (they say because it's over 230hp it's a big block:rolleyes:) didn't change.
sounds like a big block in there somewhere for the cost of a deductible to me? lol
 

brgrcru

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Nicki bostick ins. Agency
619 303-4108

They insure my 95 mph cp Jet boat , and my cole tr2 flat 35 k values with exposed engine and basset headers .
No fudged numbers , Both legit , no bs . About $900 for one.

They are hot boaters , and know there stuff .
 

LC925

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Would the high used market prices be affecting the premiums? I mean replacement cost has to be twice as much for them right now compared to 4-5 years ago unless you have a stated fixed $ amount.

I’ve been boat-less since April 3018, but my 2001 Stoker with a 300 OB was $700ish and prior to that my 2007 25’ Tremor was $850ish for the year with Farmers/Foremost.
 

KingofBeers

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Call Brad Stern. After reading all the threads around earlier in the year about premiums going through the roof for no reason I got a little nervous as my renewal date was approaching. My premium went DOWN by about a hundo. 100mph single engine 21' cat. Right around $1000/yr.
 

Cole Trickle

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Foremost is owned by Farmers. Tons of companies have gotten really hammered by hurricanes and wild fires in the past 2-3 years and they all are having rate changes to offset the gigantic multi billion dollar losses.

Foremost is big in UTV and boats and honestly most agents don't write it correctly and things get nasty when there is a loss on a boat or a 45K can am that was insured as stock. The whole deal is so screwy i choose not to even mess with that market as a Foremost agent. I have never enjoyed playing in the boat/utv market as I know too much and alot of agents will write a shit policy and 90% of consumers are just looking at price.
 

DWC

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I called Wozencraft today, and should have a quote back tomorrow (the guy asking questions didn’t seem to know much, but we got through it) as well as left Brad Stern a message, who I’m sure will call me back tomorrow. Hopefully I’ll have some options this week.
Can you post or PM the phone numbers?
 

COCA COLA COWBOY

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You ever think that maybe they are getting ready for something? The media is talking about a recession and in every recession, boats seem to disappear and get stolen quite a bit. Just a thought...no factual information to base this thought.
 

RiverDave

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You ever think that maybe they are getting ready for something? The media is talking about a recession and in every recession, boats seem to disappear and get stolen quite a bit. Just a thought...no factual information to base this thought.

A lot of companies are paying out hurricane and storm damage across the country
 

MagicMan

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Gotta throw a shout out to Wozencraft, filed my first claim with American Modern Insurance. Had some gel damage after the monsoon storm at the Nautical a few weeks ago. They handled my claim quickly. Got a quote for damages from Kornowskys, submitted claim, processed right away. Pleasure to deal with. American Modern Insurance was the policy carrier provided by Wozencraft.
 
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EmpirE231

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Insurance rates will continue to rise, all across the board for the next few years.
 

MrMayhem

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Hurricanes and fires causing auto rates to go up? Not in the state of California! Where do you people find this stuff? In the state of California, auto insurance cannot be subsidized with homeowner claims or claims from other states. Each line of insurance (and the rates that are charged) need to be justified by their own claims and operating costs. In California, claims costs are on the rise. Two reasons... 1- more claims because everybody feels the need to text and drive. 2- increased claims costs because of all the technology in cars nowadays. A small bumper repair costs 4-5 times what it used to. Back up cameras, sensors, 4 stage paint, etc.... Hurricanes causing auto rates to go up..... Try explaining that to a auto customer!
 

copterzach

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Helicopter policy went up $7000. No one had an answer. Just straight across. Shopped it around. All about the same quotes so just stuck with who I have had for 11 yrs.


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hallett21

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Brad has always done good in my book


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blue wonder

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Nicki bostick ins. Agency
619 303-4108

They insure my 95 mph cp Jet boat , and my cole tr2 flat 35 k values with exposed engine and basset headers .
No fudged numbers , Both legit , no bs . About $900 for one.

They are hot boaters , and know there stuff .

THIS!!!!!....she is awesome, not only a great friend but a great insurance person, she does a DCB Mach 22’ for me for under a grand with twin 280’s on it, and we all know what those run :)
 

spectras only

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My insurance here in Canada went up 40%, no claims. I have agreed value for 15 years, premiums never changed until this year. It's all a mumbo jumbo.:p The few major underwriters control the entire insurance business around the world.
Here are the biggest challenges for insurance companies.
  • Lack of trust. This is a reason why many individuals don`t bother with insurance. ...
  • Competition. ...
  • Mismanagement. ...
  • Economic instability. ...
  • Weak manpower. ...
  • Excessive politicization of the insurance industry.
https://www2.deloitte.com/us/en/pages/financial-services/articles/insurance-industry-outlook.html
Sustained economic growth, rising interest rates, and higher investment income contributed to a strong year for insurers in 2018. Although 2019 is shaping up to be a banner year, longer term challenges like the potential for economic slowdown and ongoing disputes over tariffs and trade rules may cast a shadow on the insurance market outlook.
We're all fucked:rolleyes:
 

MrMayhem

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Helicopter policy went up $7000. No one had an answer. Just straight across. Shopped it around. All about the same quotes so just stuck with who I have had for 11 yrs.


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Now that’s a rate increase! Yikes.


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D19

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My Car insurance went up 600 a year for no reason. No accidents, tickets or anything. I called 6 other companies and they were all about the same. Something about policies in CA going up.


I’ve been trying to get ins with Wozencraft but they never call back and if I get someone on the phone they say they have to look into my quote and call me back yet they don’t.
 

D19

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I use allstate out of agent in Phoenix, they will take cats and 90 mph plus boats, its pretty reasonable, around $2000 a year for the 120 mph Daytona and 41 mph toon.


May I have your agents contact info?
 
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