Insurance???

[Scott Pearson]

Ok,
The boat is almost done and I plan on taking it out next weekend for the BIG test drive. Im having a survey done on Tuesday and then I will be calling an insurance company. My question is what insurance company should I use? Will the insurance company let me put my own $ amount on this boat? Or is that up to the Survey?

Thanks Guys!

(NJ)Scott

[Christopher Gentile]

Regarding insurance.
Here in Canada i tryed a couple marine brokers to get a price on my sixteen. The difference was about thirty dollars from staying wiith my home broker. Also if you have a lot of policies listed with the same broker you can beat them up like a bank.
Regarding the replacement cost. I was able to just tell them what a replacement boat (used) of course would be and that was the amount i was able to insure for.
Anything after that you have to have a custom survey done.
A 1994 sixteen here will cost about twenty -one thousand to replace with trailor. If you can find one.

Good luck

[Forrest]

Use an insurance company that will insure you! For some reason, most of the big name insurance companys will not insure boats over 12 years old, no matter what the condition.

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Forrest

[This message has been edited by Forrest (edited 05-25-2001).]

[RedDog]

I recently bought a policy online through http://www.progressive.com - reasonable cost and coverage. Don't know about the responsiveness on a claim - but then hope I never have to find out.

[riesr]

I also have mine with Progressive. The big trick is the HP. Since mine is a 67 16 I really don't want more than 205 or 210 to show up for the risk rating. Since the engine is not a standard Mercruiser, in all fairness, I really have no idea what the actual HP might be. I have a wish(idea), but the insurance company doesn't need to know my wish. Even if it were dyno tested that would not be the prop shaft HP now listed from Mercruiser on new boats. The only ting they need to know is that I have a small block chevy 350. They accepted my $$ amount for value. The only time I worry about insurance is on the trailer on the road. I don't need some uninsured jerk running into to me.

[jaroot]

have my 97 16 insured with progressive also. They were the only reasonable insurance i could find. Under 400 a year with 20,000 for value on the boat and a few thousand for the single axle eagle trailer. plus GOOD full coverage (comprehensive, collision, liability, fire and theft, 250 deductible) and my boat has a 350/210. progressive wants to know top speed, motor size, etc etc etc... my regular insurance agent didn't even want to touch my boat. small boat/big motor... the local donzi dealer or i should say ex donzi dealer in Monroe, Mi actually suggested progressive to me.

[Dr. Dan]

Hey Scott, I talked to my resident insurance expert and she explained for boaters that the most important thing is to have your boat insured for and "Agreed To Value and or Replacement Cost", all companies will have their own methods for varification,I explained the nature of your specific restoration and she kept going back to the agreed/replacement value, hope you find this helpful. We are insured through National Marine Underwriters, www.nmu.com (http://www.nmu.com) 1-800-BOAT-INS. Good Luck...Doc

[Scott Pearson]

Guys,
Thatnks for the info! I will be calling around this week after I get the survey done.

I will let you know how I make out

(NJ)Scott