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TuxedoPk
05-14-2003, 06:12 PM
I just received a price quote from Progressive on for my 1976 X-18 and 1970 21GT. The rep said he had never seen collission/comprehensive rates that high on low valued boats.

The boats were quoted in NY state, 1 ticket last 3 years. $500 deductible, 5 years boating experience.

HP Speed Value Collision Comprehensive
X-18 260 63 $5000 $591 $186
21GT 260 63 $7500 $916 $364

They also quoted $855 for $100k/$300k bodily injury,uninsured boater liability.

We played with the speed a bit: droping top speed to 55mph had no effect, raising it to 70 eliminated coverage.

They didn't show any X-18s, so the quote was based on an 18 2+3.

How do these rates compare to what everyone else is paying?

Rootsy
05-14-2003, 06:20 PM
I have national marine underwriters for my 97 16. valued @ 20K and trailer @ 2500. comp, collision and personal 100 / 300. 65 mph (actual w/ gen II) and the rate is $232/year.

i had progressive previously and they kept upping insurance 100/year til we were almost to 500 bucks... then RANMAN told me bout NMU and i was saved!

as with progressive they do not like anything over 70 and if your boat is more than 10 years old i believe they require a survey.

KMLFAMILY
05-14-2003, 06:38 PM
87 C22 330 HP
Property damage- Boat 13,000
Trl. 2,500
Ded. 1,300
Watercraft liability-300,000
Medical payments-10,000
Uninsured boaters liability-50,000
Premium $666.00
WWW.SKISAFE.COM (http://WWW.SKISAFE.COM)

Marlin275
05-14-2003, 07:09 PM
I have $100k/$300k bodily injury,uninsured boater liability.
$12,000 boat coverage
$250 deductible
35 years boating experience
60 mph top speed, down wind, with a strong tide

Rate: $342. USAA
New York

mphatc
05-14-2003, 08:08 PM
Just went with NMU for my 1969 Corsican

Full value $15K
(insurance required a marine survey)
Trailer value $1500

Insured 100/300
250 deductible
annual premium $224.00

Without survey max coverage was $7000.00

Mario L.

TuxedoPk
05-14-2003, 11:34 PM
The rates I was quoted are even worse than I thought! $2912 for the two boats with a combined value of $12,500 and a $500 deductible.

That's about 10x what you're saying you're paying, and 8.5x NYC which is my geographic area.

As I'm checking new rates, any suggestions as to the amount to insure the boat for? Replacement cost, partial, etc.?

mphatc
05-15-2003, 07:18 AM
try a different approach. . . .

Lower your HP rating to 200 and lower your top speed to 45. Tell the insurance company that these are old boats if the ask.

A clean driving record helps, possibly if you have speeding tickets in recent history you can have another family member be the first name on the policy.

Try www.NMU.com (http://www.NMU.com)

I went for the survey to get the value of my investment insured. The surveyor made recommendations for improvements which NMU required to insure at full value.
All the changes were maintenance items, all valid.

Are your boats salt water use? This increases rates.


Mario L.

MOP
05-15-2003, 07:45 AM
91 16 Mine reads about the same as KMLFAMILY for $324 by Old United Casualty. Much as I hate to admit a little over 50 years boat experiance. 60 if someone is towing me.

Doug G
05-15-2003, 08:30 AM
You might check with your homeowners carrier and package the coverage. 1988 23 Ragazza, 52mph, $1,000,000 personal liability, $20,000 value, $250 deductible, premium is $341. Carrier is Frankenmuth.

roadking
05-15-2003, 11:01 AM
try Erie Ins., I pay $230 for a 1999 22ZX.