Another Insurance Question For You Guys
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Another Insurance Question For You Guys

  1. #1
    Senior Member n8dawg's Avatar
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    Default Another Insurance Question For You Guys

    For all you guys with expensive (meaning more than 12k) CP's, Daytona's, Ultras, ect, ect... With exposed motors, OT exhuast.
    Do you guys have insurance on those things? If so How did you go about insuring it?

    Thanks in advance.
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  3. #2
    Senior Member Need4Speed77's Avatar
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    Quote Originally Posted by n8dawg View Post
    For all you guys with expensive (meaning more than 12k) CP's, Daytona's, Ultras, ect, ect... With exposed motors, OT exhuast.
    Do you guys have insurance on those things? If so How did you go about insuring it?

    Thanks in advance.
    I have two boats with exposed motors and OT exhaust. I have an agreed value policy for each of them. One $17,000 and one $21,000. I have the policy through Progressive. The values indicate approximately what I have invested in the boats so that if ANYTHING were to happen to them I will get my money back. Progressive will insure just about anything, although I do not know if they will insure it if you tell them you are going to race it. Whatever you do make sure it is an "AGREED VALUE" policy and not an "ACV" policy. I lost my ass on my Nordic because I had an "ACV" policy ( actual cash value, means whatever it could be sold for at the time of loss). I had about 18k into it and when a bitch wiped it out on the freeway my insurance company only gave me $7100. I had to fight tooth and nail for that too. They originally only wanted to give me $4800. READ THE SMALL PRINT!!!
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  4. #3
    Senior Member GAWnCA's Avatar
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    Quote Originally Posted by Need4Speed77 View Post
    I have two boats with exposed motors and OT exhaust. I have an agreed value policy for each of them. One $17,000 and one $21,000. I have the policy through Progressive. The values indicate approximately what I have invested in the boats so that if ANYTHING were to happen to them I will get my money back. Progressive will insure just about anything, although I do not know if they will insure it if you tell them you are going to race it. Whatever you do make sure it is an "AGREED VALUE" policy and not an "ACV" policy. I lost my ass on my Nordic because I had an "ACV" policy ( actual cash value, means whatever it could be sold for at the time of loss). I had about 18k into it and when a bitch wiped it out on the freeway my insurance company only gave me $7100. I had to fight tooth and nail for that too. They originally only wanted to give me $4800. READ THE SMALL PRINT!!!
    Speed, So what kind of cost for the premium are we talking? Thanks.
    Wags
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  6. #4
    Glendale Arizona Squirtcha?'s Avatar
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    Another thing to keep in mind. Although it's nice to have the boat covered..........that's small potatoes if god forbid someone should get hurt. Liability would be more of a concern to me than the boat itself.

    Boat value $21,000.00

    Wrongful death suit (or similar) $1,000,000.00 or more.

    No insurance? No money? I believe it's a misnomer that you can't squeeze blood from a turnip.
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  7. #5
    "That Guy" floatn turd's Avatar
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    I'm having a big problem too, but some of it is my fault. I have a ft jet,tunnel hull, open engine,blower,high$, high HP,o-ya and a sweet ass DUI.
    So I think that I'm screwed. But I am mainly just concerned with sinking and theft. If anyone has any ideas for me please drop a reply.

    Sorry to piggyback on your thread n8dawg but I'm in the same boat (well sort of)
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  8. #6
    Senior Member SLACKER's Avatar
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    I have mine through State Farm, I have it insured for $10k just in case it sinks etc.. I also have full coverage like I do on everything, but it (liability) is at a minumum. My sunkist is a jet with ot exhaust, the only thing that is hurting me is I dont have enough boating exp (according to them). Of course I have mutiple policies with them so I am sure that that helps. I have been meaning to up the $ since I have upgraded the motor just in case.

    I will have full coverage on everything I own... Why??? Because a few years back my street/strip car got stolen and I lost about 4 grand, could have lost more if it wasnt for the dealer (long story similar to SPEED).

    While at the BOTE two weeks ago I was asked this same question. He said he has tried everywhere but no one would insure him with OT exhaust. I dont know his record but said it was clean. The gentleman was from MD, so are there different stipulations for different states??

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  9. #7
    I'm baaaaack... hkunz's Avatar
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    We got ours through State Farm, if you can imagine, for the Advantage, blower, air entrapment, etc. BUT, no DUI's, so you might want to call them.

    Our Cheetah is with BoatUS, but they don't like air entrapment hulls. Blowers seemed to be ok.
    It is impossible to defeat an ignorant man in argument. -William G. McAdoo, lawyer and politician (1863-1941)

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  10. #8
    Senior Member cyclone's Avatar
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    been with state farm for all my insurance needs for 18 years. they wont touch a boat with OT headers according my 3 different agents i talked with.

    i have a tunnel, big hp, and OT's and need insurance. if anyone has a for sure company that will cover me i'd gladly pay.

    i've struck out with markel and all the others that supposedly would cover me. my driving record is great as well. no deuces.
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  11. #9
    "That Guy" floatn turd's Avatar
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    I just want it insured so if it sinks or some POS steals it, I can get back most of what I have it. So i don't want to lie about the value of the boat.
    But i did call state farm, they laughed at me.. along with the other big comps. So i think with all my factors I'm shit out'a luck...

    I think I'm going to hook up a cheesy "shock sensor" car alarm up to the battery, so if someone hop's in it or farts with it, the alarm will go off.
    I think thats called trailer park insurance,,
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  12. #10
    Senior Member milkmoney's Avatar
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    i just checked progressive and the online quote said that they dont insure exposed engines.. if you are in az or cali i think you might try a guy named al thompson at performance insurance, they have a web site with a 800 #, he can insure me, i just haven't done it yet..worth a try..? tell him dave montgomery sent you.. the website is performance insurance specalist
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  13. #11
    Renegade jet tunneljet's Avatar
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    I also have my cheyenne covered by state farm full coverage. Like $40/ month!!
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  14. #12
    Senior Member Need4Speed77's Avatar
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    Quote Originally Posted by milkmoney View Post
    i just checked progressive and the online quote said that they dont insure exposed engines.. if you are in az or cali i think you might try a guy named al thompson at performance insurance, they have a web site with a 800 #, he can insure me, i just haven't done it yet..worth a try..? tell him dave montgomery sent you.. the website is performance insurance specalist
    I have my policies through Progressive and both are OT exhaust and exposed engine. I hooked up with an Agent in Apache Junction named JHI Insurance. I have each boat covered fully for ANY type of loss and 1,000,000 limit on bodily injury. My premium is $385 a year and I have had these policies for over three years. If they don't offer this type of coverage anymore then I must be grandfathered in from when they did.
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  15. #13
    Senior Member milkmoney's Avatar
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    Quote Originally Posted by Need4Speed77 View Post
    I have my policies through Progressive and both are OT exhaust and exposed engine. I hooked up with an Agent in Apache Junction named JHI Insurance. I have each boat covered fully for ANY type of loss and 1,000,000 limit on bodily injury. My premium is $385 a year and I have had these policies for over three years. If they don't offer this type of coverage anymore then I must be grandfathered in from when they did.
    would you happen to have their #,, thanks.
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  16. #14
    Senior Member Need4Speed77's Avatar
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    Quote Originally Posted by milkmoney View Post
    would you happen to have their #,, thanks.
    480-982-0273
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