Cat Insurance HELP!

http://www.wakezoneinsurance.com/Product.html

I do not know for sure but they claim to have programs for cats up to 130 mph. Let me know how you do. I have a cat being built 26 ft with twin 300 xs.

Stu

Yep, Stacy at Wakezone can help you. I just signed up with her (not a cat though ... ). She is great.

WORLDWIDE UNDERWRITERS 800.339.1235 OR www.worldwidemarineins.com or MARKELMARINE 800.759.2628 - www.epboatins.com - These guys insure cats up to 150 MPH . :winker:

daga,

what kind of boat is it? spectre?

DagaH2X said:

Where are you cat guys getting your insurance? A buddy just overnighted the check to a guy for his new boat and paid the shipping company to deliver it. He called around for insurance last week and got it (not sure where) and now the ins company is backing out saying basically they changed thier mind....

Now the lender is looking for a binder and the boat will be here next week. Everywhere he calls they say we dont do it or you have to take the tres martin driving schooll. ANY IDEAS WOULD BE AWESOME!!!!
BTW the boats 30' with 2 promax 225's.

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State Farm insures a buddys 28 Skater with 280 OSR Engines for 875 yr.

I would love to know how he pulled that off...

Re: Re: Cat Insurance HELP!

Pachanga_Rick said:

State Farm insures a buddys 28 Skater with 280 OSR Engines for 875 yr.

I would love to know how he pulled that off...

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State Farm is tricky.

When I called before we got our most recent boat the chick on the phone was like "Uh, does it have a pointy nose"? I said, yup.

She claimed they don't insure boats with "point" noses.

(no bs, that is what they told me).

The boat is a Motion, looks like he secured insurance on Saturday, not sure where but thanks for the help.....

Im not sure if the boat has a pointy nose or not... :dead: :laugher:

DagaH2X said:

The boat is a Motion, looks like he secured insurance on Saturday, not sure where but thanks for the help.....

Im not sure if the boat has a pointy nose or not... :dead: :laugher:

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Looks like the boat will be on the lake on friday....

Well the ins company just called and missed the fact that they want him to take the tres martin school before the binder can be issued. Any more advice would be great!

Tough issue Rob.... We've been successful getting our Cats insured as an attachment to our Homeowners policy.... even that has not always worked.... many years of ownership & expirience has helped.... start with the exisiting companies he insures his home, car etc with... but if he has prior boat claims... especially in the past 5 years..... he may be out of luck... either way my guess is he's looking at $3k + just for the basics from the description of the boat.... Good Luck!!!!

Why not take the class. Expierence means nothing. Way too many experts dumping boats at relatively slow speeds. The value of the class is not getting a reduced insurance rate or even getting insurance.

The value is understanding how to properly run and enjoy your boat.

DagaH2X said:

Well the ins company just called and missed the fact that they want him to take the tres martin school before the binder can be issued. Any more advice would be great!

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I can't help but I can complain.

WTF !!!!!!!!!!!!!!!!! Do we keep hearing about Ins companies saying 'Yes' and then came back later to say no, or yes with stipulations.

Stipulations are fine as long as they fukin tell us up frt.

This just burns my azz and makes me really paranoid when the time comes.

Following is sarcastic: How the hell to we get insurance before we buy a boat ? That way we can find out later if it 'sticks or not' before we buy the boat. :devious:

From what I see, most often the agent is eager and tells the customer no problem. Then it goes to underwriting and they have to make the I am sorry but I forgot to tell you call.

Getting insurance for the purchase is easy. The binder is issued with warranty provisions. This way the boat can be sold and insured right away subject to these provisions. We so this all the time. Very simple.

BRAD S said:

Expierence means nothing. The value is understanding how to properly run and enjoy your boat.

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I disagree.... my insurance Co.... NY Central Mutual.... has made numerous exceptions because of my 30+ years of history operating High Performance Boats.... with only one claim..... the question is a part of their application... and no where on the application does it ask if I have attended a "high performance school"... I'm sure attending can't hurt... but not sure it would help.... expirience certainly helps....

You are right, it does help you get insurance.

It does not mean you know how to drive a boat or understand how the bottom of a boat works or responds.

I am a retired Coast Guard Officer and have seen and heard from all the expirenced experts who at the end of the day do not have a clue!

Demonstrated performance to a measureable criteria is the only way to idenify if a proposed insured can really handle the boat they are moving in to.

Insurance companies have learned the hard way, just because someone has 50 years of boat ownership does not mean they know how to drive at all.

You're right.... there is alot more money then brains out there!

But I believe insurance companies will consider someone that has owned high performance boats for 30+ years without incident less of a risk then someone with 5 years expirience... and may write one & not the other becasue of it... my point was emphasize the expirience if you have it.... if not get it... Tres Martin by all accounts does an excellent job of teaching how to handle a boat.... its a good option....

BRAD S said:

Why not take the class.

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Bank wants the binder right now, boat is paid for and will be here Thursday. The class is 1200 miles away and costs over 2k to take. Its just not realistic right now. If he knew BEFORE the purchase he had to take maybe it would have went down a little different.
IMO $2000 buys a lot of gas for experience and he has a few Cat drivers on our lake that have offered to show him the ropes.

I do agree, to be clear and transparent I am Tres' Partner with the Boat School.

We have seen some very interesting senarios with all of this and at the end of the day not one boat shool student has walked away not feeling they got great value from the time and money spent.

Thanks and BeSafe

Brad