Insurance for twin 1350’s ?

[DWC]

My new 37R/450R boat was $3800 first year and I think $4200 second year. I was 41 when I got it. Had faster previous cat experience.

Worst thing about insuring these is the lack of umbrella. Seams like you can only get a $2M? Don’t recall but leaves a hell of a lot of exposure!

I was considering Silver Lining before Preston bought it and was quoted 12.5k or 14.5k a year. But that boat was almost 10 years old then and had a value of about $475K. Not a $1.1M 388 skater.

Thanks for the detail. It’s incredible how much more those 30mph cost. Makes the choice easier on OB vs inboard IMO.

 

[Mikemo_SDS]

Did you used to own the red m35xl? I think I remember seeing it for sale years ago and it being a 16.

Negative. My brother in law's boat. I spent a lot of time in it!

 

[JFMFG]

Negative. My brother in law's boat. I spent a lot of time in it!

I was thinking it was yours cause similar colors. I miss watching his videos on YouTube of running that thing on the rails. Did he get something else or take a break from boating?

 

[Tank]

Im just a poor man with big dreams but what does a 1350 say m35 or skater 368 for comparison run a year insurance wise

Bobbit was paying 45ish 200mph 1500hp 40 skater. Think he was through Markel. Buddy Steve was paying 35k 1550 190mph M35. Forget who he had. Both had layups too.

Cats and high speed are not for the faint of heart….or checkbook.

 

[DarkHorseRacing]

Doesn’t everyone just insure these with State Farm for $900 a year and claim they don’t go over 75mph

Well I actually boat on a lake that has A 35mph speed limit, but that didn’t make any difference to the underwriter when he researched my TCM engine and came back and said that was a high performance engine and they don’t write insurance for high performance boats.

They didn’t give a rats ass that I have 40 years of boat driving experience or the fact the lake has a speed limit (and actually enforced).

It’s fucked up. They don’t make car insurance decisions on solely how fast a car is “capable of”.

I’ll try X insurance or the other guy mentioned. Wozencraft was no help either.

 

[Javajoe]

Well I actually boat on a lake that has A 35mph speed limit, but that didn’t make any difference to the underwriter when he researched my TCM engine and came back and said that was a high performance engine and they don’t write insurance for high performance boats.

They didn’t give a rats ass that I have 40 years of boat driving experience or the fact the lake has a speed limit (and actually enforced).

It’s fucked up. They don’t make car insurance decisions on solely how fast a car is “capable of”.

I’ll try X insurance or the other guy mentioned. Wozencraft was no help either.

You can at least get Liability for cheap

 

[AZLineman]

Funny my boat insurance just went up seven dollars a month and I about had a heart attack

 

[crzy2bealive]

L

Funny my boat insurance just went up seven dollars a month and I about had a heart attack

my insurance for 2 boats went down 150 bucks for the year lol

 

[Nosocks]

I was told by Wozencraft that any more than a 20mph jump from boat to boat can cause rates to skyrocket 2-3x with Cats if you're coming from a V.

Was looking at 25-28ft cats that go 20-40mph faster.

Not sure how accurate this is but presumably they'll know best. I didn't get a call back after my most recent call asking questions to get some rough quotes on boats I'm looking at.

 

[JFMFG]

Bobbit was paying 45ish 200mph 1500hp 40 skater. Think he was through Markel. Buddy Steve was paying 35k 1550 190mph M35. Forget who he had. Both had layups too.

Cats and high speed are not for the faint of heart….or checkbook.

That’s some deep pockets there

 

[DarkHorseRacing]

You can at least get Liability for cheap

My lake has strict requirements for boat insurance (and they are a required named additional insured, so they see my insurance).

Maybe if I boated on Havasu no one cares about insurance.

 

[Tank]

You’d be shocked how many people run no insurance. Not illegal I just don’t want to incite that liability. And it god forbid the boat gets stolen or sinks in the ocean I dont wanna be out that much cash.

Our last boat (35’ cigarette wiyh 496’s / 65ish top speed) was $800 a year. Current cig with 1,000’s….wee bit more. But not horrible. Wozencraft for both. Always treated well with Devin.

 

[4Waters]

M35 w/1350's brand new in 2016 for a first time boater of that caliber-$31k a year with Tres Martin school. Got a little cheaper after that first year by about $2k.

388 with 1350/1550's, boat is 8 years old i think, about $25k a year.

I'm gonna go over here and be poor

 

[NicPaus]

That doesn't seem like that much. Buddy recently posted the costs of owning his previous jet. It was $30K a month not including jet fuel. So 30k a year for a million dollar boat is reasonable.

 

[ToMorrow44]

I was told by Wozencraft that any more than a 20mph jump from boat to boat can cause rates to skyrocket 2-3x with Cats if you're coming from a V.

Was looking at 25-28ft cats that go 20-40mph faster.

Not sure how accurate this is but presumably they'll know best. I didn't get a call back after my most recent call asking questions to get some rough quotes on boats I'm looking at.

I was told the same. 15-20mph speed increase max, 700hp per engine max (which is dumb because twin 700s would be less than a single 1000).

In this scenario, an M31 with 700s would probably be much more reasonable.

 

[RiverDave]

My Hallett with 1420 hp is like 5k a year if I remember right. I about shot with that

 

[JFMFG]

My Hallett with 1420 hp is like 5k a year if I remember right. I about shot with that

Fuuhhhhhh. Is it fixed yet?

 

[pixrthis]

You’d be shocked how many people run no insurance. Not illegal I just don’t want to incite that liability. And it god forbid the boat gets stolen or sinks in the ocean I dont wanna be out that much cash.

Our last boat (35’ cigarette wiyh 496’s / 65ish top speed) was $800 a year. Current cig with 1,000’s….wee bit more. But not horrible. Wozencraft for both. Always treated well with Devin.

This is how I’ve seen the 180 mph boats I’ve been around handled. Boats were used less than five times a year and owners weren’t going to pay it.

 

[575cat]

My Hallett with 1420 hp is like 5k a year if I remember right. I about shot with that

My M31 1720HP s less than that

 

[FROGMAN524]

My Hallett with 1420 hp is like 5k a year if I remember right. I about shot with that

My Hallett with 1800HP is $1,500 a year. State Farm. It was like $1,300 but has gone up.

 

[ChrisV]

4K here for two 100mph boats.

My friend keeps pushing me to work harder to get a windshield turbo Merc cat. He doesn’t understand all the other shit that cost money besides the boat. Storage, wash, insurance, fuel.

 

[USCFAN]

My Hallett with 1420 hp is like 5k a year if I remember right. I about shot with that

1420? Ilmor 710’s only make 700 Horsepower. The 710 is just a truncated way to say 700HP 10 cylinders.

 

[JFMFG]

4K here for two 100mph boats.

My friend keeps pushing me to work harder to get a windshield turbo Merc cat. He doesn’t understand all the other shit that cost money besides the boat. Storage, wash, insurance, fuel.

You don’t wash your own shit? . I couldn’t afford anything twin turbo cat wether it’s maint or insurance

 

[ChrisV]

You don’t wash your own shit? . I couldn’t afford anything twin turbo cat wether it’s maint or insurance

I’m not washing a 30ft boat at that point. I’m already struggling with my 26.

 

[n2otoofast4u]

My Hallett with 1420 hp is like 5k a year if I remember right. I about shot with that

If that's the real number, you need a new agent IMO!

 

[RiverDave]

Fuuhhhhhh. Is it fixed yet?

Absolute is pulling the header today and I’ll get it fixed.. it’s not top of priority right now the sign truck is

 

[RiverDave]

Looks like I’ll be making a call today lol

 

[RiverDave]

I called my guy I guess it’s 1941 a year

 

[Tank]

My Hallett with 1800HP is $1,500 a year. State Farm. It was like $1,300 but has gone up.

Who’s your agent?

 

[OC Daytona]

My Hallett with 1800HP is $1,500 a year. State Farm. It was like $1,300 but has gone up.

My 33 Daytona 2000 HP is $1500/yr

28 Daytona 1500HP is $1200/yr

Same insurer for 3 boats for last 30 years.....22 years with 120 mph+ cats with twins....

they told me the reason I have those rates is 0 claims in 30+ years

 

[steamin rice]

My Hallett with 1800HP is $1,500 a year. State Farm. It was like $1,300 but has gone up.

I didn't realize that State Farm covers performance boats. My boat with 1050 HP is around $1500 per year through American Modern. I just moved my homeowners, umbrella, and 4 cars to State Farm and didn't ask them to quote my boat insurance because I didn't think they would cover it.

 

[2Driver]

It will take a few month and they will probably find out about your boat. They will double your umbrella if the boat isn't covered by them.

 

[Sportin' Wood]

Threads like this remind me how insignificantly small my life is.

 

[ToMorrow44]

1420? Ilmor 710’s only make 700 Horsepower. The 710 is just a truncated way to say 700HP 10 cylinders.

Yep exactly. And being 700hp will be less than 710hp from what I understand. Theres some underwriter that they all use and there’s a strict 700hp limit, 701 goes into a different category I guess

 

[FROGMAN524]

Who’s your agent?

 

[steamin rice]

It will take a few month and they will probably find out about your boat. They will double your umbrella if the boat isn't covered by them.

Was that for me? I'd be happy to move my boat insurance to State Farm if they offer something comparable or better than what I have with American Modern. I'll contact the agent and get his feedback. (Thx for the agent referral btw, he set me up with better coverage and lower total premiums than I had previously)

 

[DarkHorseRacing]

Can a CA resident call an AZ insurance agent or do I have to deal with CA offices?

 

[2Driver]

Was that for me? I'd be happy to move my boat insurance to State Farm if they offer something comparable or better than what I have with American Modern. I'll contact the agent and get his feedback. (Thx for the agent referral btw, he set me up with better coverage and lower total premiums than I had previously)

Yes for you. if they know you have coverage outside of SF they double your umbrella.

They found out I had a dirt bike with progressive and sent me a letter to the effect. How they data mine that info im not sure

 

[OC Daytona]

Can a CA resident call an AZ insurance agent or do I have to deal with CA offices?

Yes, I'm still in Kommiefornia, but have AZ insurance because that's where I use and store my boats

 

[2Driver]

I thought Id follow up on this. Hate to read informational threads with no outcome posted. Thanks everyone.

Andy Holthe got it insured for $18k with a layup Nov- April.

 

[n2otoofast4u]

We’ve been in LOTO for a week, been super blessed to get some time in a few newer OB cats, and the wife is relentless now that we get another cat. I was surprised of the insurance rates on them, as I expected worse. We’re sitting on a member of this sites dock and a 57’ MTI CC rolls by with quad or quint 600s on it….. BEAUTIFUL…… The insurance cost came up about it and one of the fellas had the info… fell out my chair!

 

[2Driver]

That would be great. Thanks!

He is putting the Hallett 275 up for sale. 159k I believe is the number. Its very nice

 

[hallett21]

We’ve been in LOTO for a week, been super blessed to get some time in a few newer OB cats, and the wife is relentless now that we get another cat. I was surprised of the insurance rates on them, as I expected worse. We’re sitting on a member of this sites dock and a 57’ MTI CC rolls by with quad or quint 600s on it….. BEAUTIFUL…… The insurance cost came up about it and one of the fellas had the info… fell out my chair!

I’m sure it’s a big number. But does it seem out of line if that boat ended up at the bottom of the ocean and the owner wants a replacement?

 

[n2otoofast4u]

Absolutely not. If a total loss occurred, the payout would be big, not to mention the liability piece when the thing can hold a ludicrous number of people and their expensive property!

I wish I’d have taken a picture, it was freaking enormous!

 

[RiverDave]

1420? Ilmor 710’s only make 700 Horsepower. The 710 is just a truncated way to say 700HP 10 cylinders.

Good to know!

 

[FROGMAN524]

We’ve been in LOTO for a week, been super blessed to get some time in a few newer OB cats, and the wife is relentless now that we get another cat. I was surprised of the insurance rates on them, as I expected worse. We’re sitting on a member of this sites dock and a 57’ MTI CC rolls by with quad or quint 600s on it….. BEAUTIFUL…… The insurance cost came up about it and one of the fellas had the info… fell out my chair!

Spill the tea! Guessing close to $40K/annual