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mphatc
01-05-2003, 07:21 PM
I'm looking for comments on boat insurance companies and which companies to stay away from.
As the new owner of a 1969 Corsican I am a bit concerned about "classic" value and getting hammered by some insurance company if anything were to happen to the boat. I see this all to often with classic cars and don't want to experience it myself.
FWIW, I will be trailering the boat extensively, and using it primarily in fresh water. So my concerns extend to road damages as well.

thank you!
Mario L.

Dalelama
01-05-2003, 07:40 PM
Try BOAT US.... other than Lloyds-London, only carriers I found, that would do a DONZI.

It was easier getting a $1m policy on the plane.

When I mentioned DONZI, most would giggle, then hang up.

Rootsy
01-05-2003, 08:01 PM
Sorry that it won't likely happen on the corsican but owners of newer donzis that don't exceed 70ish will be pleased iwth the rates from National Marine Underwriters... Have to thank Ranman for turning me onto them... half the price of Progressive and better coverage... may i NEVER have to use it...

olredalert
01-06-2003, 01:15 AM
Mario,

-------Haggerty Ins. for classic cars.They started out as a boat insurer,and I have been told that they would be a good choice,as they are spreading out into the classic boat market.I dont use them yet,but come next spring I intend to give them a call,as they have been excellent with the 6 cars I insure with them presently.Its worth a phone call,and we would all like to hear the outcome..............Bill S.........ol red!

LKSD
01-06-2003, 09:23 AM
TRY JACKSON MARINE INS. THEY SPECIALIZE IN DONZI. ASK FOR STEFHANIE DELGRIPPO & TELL THEM JAMIE FROM LAKESIDE RESTORATIONS SENT YOU FOR AN INS. QUOTE. THERE COVERAGE & PRICES ARE EXCELENT THEY CAN USUALLY TAILOR A PLAN JUST FOR YOU & YOUR USAGE..........JAMIE
OH YEAH, THE TEL # IS 410-287-9400 EXT 247 (STEFHANIE DELGRIPPO)

Ranman
01-06-2003, 09:40 AM
I'm with Jamie on the NMU deal. This insurance is great for newer boats (10 yrs or less) that run under 70mph. I believe they will insure an older boat with a recent survey. Surveys are required by many underwriters so if you have to get one anyway, you may still want to look into National Marine Underwriters. www.nmu.com. (http://www.nmu.com.)

1997 18 Classic 300hp
$325/year

$25,000 boat
$2,500 trailer
$100,000 Liability

BS
01-07-2003, 09:12 AM
When I hit something in the water last fall in my 1988 Crossbow State Farm stepped up to the plate for the $18000.00 bill without a wimper.

They may not be the cheapest, but when you have a claim, that's not important.

Bill

KRAVEN
01-07-2003, 10:32 AM
2002 18 SCORPION classic,$48,000 boat
$ 3,000 trailer
$1000,000 liability
PROGRESSIVE $1086.00
NMU $456.00
I will be changing when policy expires.

doug hess
01-08-2003, 02:18 PM
I have a 1988 Donzi Ragazza 25 ft insured at replacement value of $15,000m, no trailer coverage. Location, Long Island Sound.

Quotes in the last 30 days for 2003 were:

State Farm $878 (use their homeowners)

National Marine Underwriters $676

Boat US $575

Markel America/Insurance Co. $440

I used Markel last year used thru local broker and had no claims. A neighbor boater got good service and check for $3500 when his I/O lost out to a rock.

Does anyone know of a better source?

Formula Jr
01-08-2003, 04:02 PM
Glad to see, at least one human, on the whole planet Earth, has had a pleasent
experience with Satan Farm. :)

Bryan Tuvell 33ZX
01-08-2003, 04:20 PM
Great thread, research "insurance rates" on OSO for hundreds of replies, before buying off just a few opinions.
We have State Farm for everything we own, about 20 years give or take, multiple policies is a true plus in getting a big company, $640 annually, agreed on value of $70K, 3K on trailer, $500 deductible.

Allot of the insurance gig has to do with the "agreed on value"/replacement value, we have agreed on, stated on our policy. My quote above is WAY above minimum coverage and I pay an additional $120 a year for the $1 Mil umbrella, GOD knows I will be sued if I make a mistake.

Yet some of my friends can not even get State Farm, ALLSTATE, Progressive and others to even talk to them. I think the Agent is a key player.
In comparison to my 26ZX policy, the 33ZX with twin 500's was only going to be $1100 for us if we bought it, the agent we have could only write policies to 100K. It took SF headquarters 4 or 5 days to get me a quote.

I respect some of the smaller companies competitive prices, I worry, will they pay. The 2 drives StateFarm bought me last year was legit, and they had a marine specialist drive up from NC come to VA to work my claim, check in hand in about 4 to 5 days, on one, after my deductible I made $200... go figure....

Others debate that HP is not listed on many policies, not the case here. I recommend a name brand company, pay a little more now, and get paid when you need them. Drives and lives are not cheap....

My worthless 2 cents, 2nd human on this earth to like SFarm... :)
Bryan

olemissalum
01-09-2003, 06:21 PM
ditto on what Bryan said. I have been with State Farm foir 16 years. Homeowners and cars and now my boat. My 26ZX insurance cost $425 this year. I was worried because my last boat I paid insurance on for 1 year and sold and had one claim that ran into the thousands so was worried they might deny me, but was not a problem. got a buddy with a 32 Fountain and State Farm will not even talk to him. His cheapest quote so far is over 3500, OUCH!!!!!
Something about the beak being very expensive to fix if ever damaged :D

catch 22
01-09-2003, 07:47 PM
We called several insurance companies here in South Florida and alot of them said "Whats a Donzi"? I decided to call Allstate since I have my 1998 Wellcraft with them and they hooked me up. My 1998 22 classic is insured for :30,000.....27,500. for boat and motor, 2500.00 for trailer and 100,000.00 for liability I pay 750.00 a year. Not the cheapest but heard good things if you have a claim. :)

mphatc
01-19-2003, 08:07 PM
I have a response from NMU for my Corsican at $244.00 annually, 15K value $2500 trailer 100K liability . . I expect a few more quotes this week from State Farm, MMG and Haggerty and will post those ASAP.
In the interim I have to wait for 4' of snow to melt and a temperature increase of close to 100 degrees from last nights low!!!

yikes!!!

Mario

Scott Pearson
01-20-2003, 06:15 AM
I have my 1968 18 insured with National Marine Underwriters. Its insured for $30,000 and the trailer for $2,000. I pay around $689.00 or something like that.

(NJ)Scott

mphatc
01-27-2003, 03:13 PM
Here's the reply I got from Haggerty . . . and also form several others . . classic boats to many insurance companies are wood and if it's glass it can't be over 25 years old!

Mr Langsten:
Unfortunately, we will be unable to offer you a quote on your Donzi. We do mostly wooden boats and can also cover some fiberglass boats, but we have very strict criteria which your boat does not fit. I suggest you call Offshore aat (800) 773-0105. Thank you for your interest in our program.

Dianne Hamilton
Licensed Agent
Hagerty Marine Insurance
(800) 762-2628, ext 8741
fax (231) 933-1581
www.hagerty.com (http://www.hagerty.com)

Dino
01-27-2003, 09:33 PM
Try Boats US
I had some problems with another insurance company and Boats US took me the same day.
You can find them on the net.
Dino

Sean
01-28-2003, 04:48 PM
How have all of you with boats over 70MPH been handled by you insurance carriers. My carrier began dumping boats like mine after last year. I am getting coverage with Markel Insurance Co. My premium with 2% deductible will run $3,200 a year. I was paying $1,000 with previous carrier for a $5,000 deductible. I got denied by many carriers such as Progressive because of the speed of my boat. Other carriers wanted as much as $5,500 for coverage. eek!

Friends of mine with boats over 70MPH have told their insurance carriers that the top end on their boats is under 70MPH. I don't have the balls to go this route. I'd be worried that if I had a claim and the insurance company did some investigation as to the speed of my boat I would be denied payment. I hate the extra premium but I feel I am guaranteed coverage as all details of the boat have been laid out with this policy.

Good luck in finding the right company.

mphatc
01-29-2003, 06:55 PM
US Boat came in at $347.00 with an additional $14.00 requirement to join US Boat. They limited the insurance coverage to $7K w/o a survey and need pictures of the boat.
They were also the first to question my rating of 150 HP ( Yes a bit stretched :D ). They knew precisely what engines came in these boats and what the HP rating was!

Mario L.