boat insurance

mike6868

Seaman Apprentice
Joined
Nov 27, 2017
Messages
39
I have a 19' Bahner with a 200 Mercury outboard. On a good day by myself I can hit 70 MPH. All my insurance quotes are coming back saying my boat/engine combo has a max speed of 90 MPH. BIG difference with insurance premiums. How can I get documentation or proof of my "real" max speed?
 

aspeck

Moderator
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May 29, 2003
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18,588
As for your question, I do not know the answer. I would ask the insurance company what you would need to do. I am sure their formulas say with the right prop and all conditions just so, that is what your boat COULD do. They will have to tell you what they would accept for certification that you can't go over 70mph.
 

briangcc

Commander
Joined
Jul 10, 2012
Messages
2,090
Good luck.

On my Four Winns, the marina argued with Insurance as the claim was my boat as setup would do 65mph. Marina said max was 55mph. I think the marina won out on that one as I know my max speed, GPS verified, was 55mph the entire time I owned the boat. My premiums weren't much...$28/mo.
 

LonnyP

Recruit
Joined
Dec 13, 2017
Messages
5
This is a tough one. First you have to find the right insurance agent who will fight the adjusters for you! Insurance companies can manipulate there policies with "Exceptions" if your agent/agency will fight for you.
 

alldodge

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Mar 8, 2009
Messages
40,582
May not be an option for you but all my boats are old. My cruiser is only worth about 20K (at most), and to replace it would probably take at least 50K do to all the mods I did to it. My point is I have all my boats (cruiser, run about, PWC) are on my home owners policy as liability only. So if it sinks, I have to pay, but it is insured if something happens to something else around it which is caused by me of the boat, I'm covered
 

Scott Danforth

Grumpy Vintage Moderator still playing with boats
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Jul 23, 2011
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47,306
my boat is insured with progressive in a bundled package with all my cars. they asked what the i wanted the boat to be worth, i said $10k for boat, $6k for gear, they said OK, x amount per month.
 

BRICH1260

Lieutenant
Joined
Jul 6, 2011
Messages
1,342
It`s probably based on a HP to weight ratio. I`m in the insurance industry and have never heard of a premium being based on top speed. Usually the factors are amount of coverage requested, length of boat, HP of engine and driving and claim history of the individual driver.
 

garbageguy

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May 8, 2012
Messages
1,531
I have found that going through an insurance agent is often the best way to go - they will use their experience and desire to have good customers to find you a good insurance company/plan to cover you. If you get quotes directly from insurance companies, you get stuff like that
 

roffey

Commander
Joined
Nov 22, 2012
Messages
2,187
When I insured my boat the agent asked if I could go over 60 mph as the premiums would go up. I did not ask by how much. FIY, my insurance bill is $643.68 Canadian. My insurance covers me for every thing, if I break it, they fix it.
 

Old Ironmaker

Captain
Joined
Dec 28, 2015
Messages
3,050
Interesting dilemma. I have never had a vehicles insurance based on how fast it would go. A rate based on price and category such as , luxury, sports Car or horsepower but not maximum speed. I once had a big V8 Benz that the speedo showed 260 KPH (156 MPH) or some ridiculous speed but that doesn't mean the car would do that., I know I tried
 

mike6868

Seaman Apprentice
Joined
Nov 27, 2017
Messages
39
more research, I learned that a boat that is rated at 77 MPH or faster is considered a performance boat which means higher rates...
 

roffey

Commander
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Nov 22, 2012
Messages
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Interesting dilemma. I have never had a vehicles insurance based on how fast it would go. A rate based on price and category such as , luxury, sports Car or horsepower but not maximum speed. I once had a big V8 Benz that the speedo showed 260 KPH (156 MPH) or some ridiculous speed but that doesn't mean the car would do that., I know I tried

Not hijacking this thread, but.... My current vehicle is a 3.5 Echobost, 375 hp and 450 lb-ft of torque. It will go 0-60 in 5.7 sec. but will not go over 100 mph, those darn micro chips, lol.
 

Old Ironmaker

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Dec 28, 2015
Messages
3,050
Not hijacking this thread, but.... My current vehicle is a 3.5 Echobost, 375 hp and 450 lb-ft of torque. It will go 0-60 in 5.7 sec. but will not go over 100 mph, those darn micro chips, lol.

Why won't it go more than 100? Who cares how fast one can get to a speeding ticket? I know my Silverado will do more than 100. It sure shacked a bit. But did 105 then I chickened out. I won't be doing that again.

I just remembered. I got my VW Beetle up to 100MPH coming down the Burlington Skyway Bridge in the 70's. I buried the needle, we were insane at 18. Please don't try that at home.
 
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Old Ironmaker

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Dec 28, 2015
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Nothing like pulling G's in a V8 when no on has had that experience. I don't care how many HP a small V6 has there's nothing like a good old fashioned V8. My wife has been driving my 350 ci V8 since we have had some snow here, now she doesn't want to give me back my Silverado. Say what?
 

roscoe

Supreme Mariner
Joined
Oct 30, 2002
Messages
21,657
more research, I learned that a boat that is rated at 77 MPH or faster is considered a performance boat which means higher rates...


I've never seen a boat rated for speed. who does these ratings?

I need to look at some bigger faster boats.
 

roffey

Commander
Joined
Nov 22, 2012
Messages
2,187
I've never seen a boat rated for speed. who does these ratings?

I need to look at some bigger faster boats.

If you look up the specifications for your boat it will list the top speed, best speed for gas mileage and how far you can go on a tank of gas. When I insured my boat one of the questions was top speed. I was asked if I could go over 60 mph. I suspect honesty is the best policy as if you tell them an untruth and wreck your boat they have an out not to pay. Makes sense to me, 40 mph on the water is fast. 70 mph is crazy fast and if you hit someone or something its going to be deadly.

I was told by an insurance agent if you are asked if you smoke on a life insurance policy and you say no, die in a plane crash they would nullify the policy.
 
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