Boat Insurance?

[HoosierShooter]

So I bought my boat a month or so ago and insured it with State Farm, just like my house, two vehicles and my travel trailer. I get a call and a letter stating they are dropping me because the stock AQ231A is too much hp for the stock 1990 Barretta Phaser 230 hull. :facepalm:

They said that hull is rated at 70mph and the engine package at 231 from the factory with a GM 305 in it. So where do you all get your boat insurance? I have to haul this thing home in a couple of weeks and I don't like having an investment sitting out there uninsured at the moment. I search the forum before asking so I hope this isn't a used up question. Thanks

 

[Texasmark]

Re: Boat Insurance?

I have SF and a boat rated for 130 hp per the BIA sticker attached to the boat with a 90 hp engine installed. I get a discount. What does your BIA sticker say? If less than your engine size, you just need to suck it up. Any insurance company that would insure you is sticking their neck out in a liability suit.

Mark

 

[pckeen]

Re: Boat Insurance?

Ditto on what tex has said, but i you have a stock motor on a stock boat, then your motor should be properly rated for the boat - sounds like someone at State Farm may have looked up something wrong on this boat. Go back and talk to them again, with some documentation showing that this boat is rated for this motor.

 

[NYBo]

Re: Boat Insurance?

Maybe they saw your resto thread where you describe replacing the stock 5.0 with a 5.7.

 

[HoosierShooter]

Re: Boat Insurance?

It actually does have a 5.7 in it, but that is coming out for another new short block, which could be 5.0 if I need to, this is just a cruiser run about. All I gave them was the AQ231A, which means 231hp I believe. Is the BIA the weight tag at the helm? I/O's don't have hp ratings on those, just the outboards as far as I know. Maybe it's the flames on the boat, they do make it look faster. :facepalm:

 

[NYBo]

Re: Boat Insurance?

Their explanation doesn't make a lot of sense, frankly. Is there a way to appeal? Can you get your agent to at least dig a little deeper?

You may have to remove those flame decals. Every "rice rocket" owner knows that the right decals boost HP, big time!

 

[H20Rat]

Re: Boat Insurance?

Insurance doesn't care about the sticker in the boat, period.. Doesn't matter if you are well above it or not, it comes down to a formula of hull length, type, weight, and engine power. If you exceed a magic number derived from all those, you won't get insurance. Its usually meant for the high horsepower muscle PWC's, but some extremely fast, light, small boats will fall into it. (and as you found out, much like stock PWC's, a stock boat can hit those magic numbers also.)

(used to work in insurance)

 

[roscoe]

Re: Boat Insurance?

What a pain.

I wonder what they would do with my 450# Starcraft, rated for 75hp, with a 75hp on it ?


Aquity Ins treated my right for years.

 

[crabby captain john]

Re: Boat Insurance?

I have 3 homes and 5 vehicles with SF. My boat is with Boat US. State Farm knows nothing about spill liability and much more. Wells is another great company and there are others too.

 

[HoosierShooter]

Re: Boat Insurance?

I'm looking at Boat US right now, taking the free boating course first.

 

[pikefisherman]

Re: Boat Insurance?

Try Progressive?

 

[HoosierShooter]

Re: Boat Insurance?

Not yet,but they are on the list. State Farm called me today and I have coverage until the end of the month and they are looking into it further to see if there are some errors. Thanks for all the tips.

 

[h2odick]

Re: Boat Insurance?

I insure with BoatUS

 

[Natesms]

Re: Boat Insurance?

I've had Progressive and now go through Gieco (Seaworthy). I'm about to change to american family, better coverage and less money.

FWIW - I had a bad experience with progressive. I hit a stump last year thanks to the drought and stripped the engine coupler. There was "not enough prop damage" for them to pay the claim. Apparently they don't like you to run stainless steel props.

 

[Scott Danforth]

Re: Boat Insurance?

your boat is over 20' long and has an IO. you could have 2000000000000 hp and it would not matter. CG rules for wetted length x transom beam stop at 20'. and its only for outboards

http://www.jamestowndistributors.com/userportal/pdfs/SafetyStandardforBackyardBoatBuilders.pdf

note on page 5 (Note, there is no limit to I/O powered boats)

there is an error somewhere with state farm.

 

[lncoop]

Re: Boat Insurance?

I have Foremost. They've always given me exceptional service.

 

[BRICH1260]

Re: Boat Insurance?

I work for SF and have them for my boat insurance. Something does not sound right with your story. I have a 270HP motor and a 24` boat and they accepted me. SF basically goes on HP to legnth ratio, if they did mine, they should do yours.

 

[jkust]

Re: Boat Insurance?

After shopping around...I've found Progressive to be inexpensive by comparison. They paid me out this past summer for a new Trailer for my sig boat without hassle.

 

[Chris1956]

Re: Boat Insurance?

That motor/boat combo sounds pretty standard to me. A 24-25 footer with a 5.0L motor can be severely underpowered. Something is wrong. I would sit down with them and see if they have something wrong in the paperwork. Bring a factory brochure with that boat/motor combo with you. If that fails, BoatUS should take you.

 

[h2odick]

Re: Boat Insurance?

Agreed. I've got a 24' with 310 HP and have no issues with BoatUS. They probably wouldn't hassle me if i had 500+ hp