www.iFourWinns.com

We are moving and for the short term we will only require rental insurance instead of homeowners. Unfortunately my boat is tied into my homeowners policy so we may need to rewrite my boat policy as well. I don't think I ever answered this question the first time around. I think I only answered the horsepower question. Is there a particular speed at which premiums go significantly higher? By no means is this a "Go fast" boat so I don't want to be stuck with "Go Fast" premiums.

_________________
2008 Horizon 260 VP 8.1 Gi

I'd answer by saying something like, "I'm not exactly sure but I've had it up to ___MPH and I'm not sure it can go much faster."

Hopefully that number you'd fill in is in the 40MPH range.

_________________
Paul
2007 Four Winns Horizon 220
Mercruiser 350 Mag MPI w/ Bravo III Drive
2004 Ford Explorer Limited (V8-AWD)
Pomme de Terre Lake (Southwest Missouri)

Always best to answer truthfully. In the event a bad claim happens an insurer that is really trying to save money could try and void the policy if they could prove that you willfully lied on the application. I've heard stories of things like that (but never heard of it first hand), and I'm almost positive it's legal. I work in the IT dept of a large insurance company but only know the basics of the insurance business.

You're probably better of with the truth than having someone look at the "375HP" and just conclude that it's a fast boat from that number ignoring the weight.

_________________
2005 Horizon 230 5.7 GXi/DP "Nauti Addiction"
Towed with a 2003 Suburban Z71

The fastest way to not be covered when you need it most is to lie to an insurance company.

_________________
Current Boat:
2004 Sea Ray 320 Sundancer "Nauti Luvin'"

Previous Boats:
1999 298 Vista "Seas The Day"
2008 H200SS "Nauti Luv"
2006 Tahoe Q4

Honest answer is best. Besides, I don't think FW makes a boat that goes fast enough to make an insurance company nervous.

_________________
'01 Vista 298

Don't lie. But I have never had an insurance company ask that though. Is that common question? I assume they just got that information themselves, or maybe my agent gave it to them?

_________________

2001 328 Vista

Previous Boats:
2004 Sea Ray 220 Select

I would ask if the underwriters are now inquiring as to max speed since this has never been asked of you before.....i never have heard of that - they always asked me the size, model, HP and style of boat and where stored. Most boat claims are from docked or stored boats anyway so i understand them asking where moored and or stored.

I would ask them under what conditions? Wind, wave size, load, prop pitch and size, altitude, salt vs fresh water - the range of max speed for the same boat/motor can be huge depending on all these variables......tell them about 10 mph slower than the typical bass boat with 250 hp.....or.....how bout 10 mph faster than the typical Grady White with 500 hp......or......just tell them the max speed would be on I-10 just West of Kerville where the speed limit is 80mph.

Call Seahorse Insurance and get a quote from them over the phone and i assure you will not be asked such an ignorant question.

_________________
http://i1339.photobucket.com/albums/o71 ... wqm355.jpg


08' H210SS
VP 5.7Gi

I just checked my insurance and either of my Boat or Homeowner’s insurance does not have maximum speed info…
I would not lie but 45 mph would work for it since if you put F4 prop on your 260 that would be the max speed at red line of engine…. Although if you left F6 prop your top end should be 55 mph….

_________________

08 H260 VP 8.1Gi DP.....Previous
2013 Crownline E6 Merc 8.2MAG BIIIX, DTS/SC

As far as why they're asking. I'm guessing some actuary calculated that boats that go over X mph have a xx % higher incidence of claims. Insurance companies are always trying to improve their rates - to get more premium from higher risks and to to compete at a lower cost for low risk.

IMO, MPH is not a good indicator. Well, actually maybe it is for certain types of accidents, but the threshold would be much higher than your boat is capable of.

I'd respond with the truth, but ask questions like (if it was slower or faster, what sort of a difference would it make). If you're well clear of the cutoff don't worry about it. If you're in a higher rate then argue the other points that have been brought up.

_________________
2005 Horizon 230 5.7 GXi/DP "Nauti Addiction"
Towed with a 2003 Suburban Z71

I got turned down several times with mine. Last summer we only took it to a little over 65mph at about 3/4 throttle.
Even the stock 340hp per engine was enough to put it in the "go fast" section.
But, on the other hand, my is the good ole days as far as Four Winns is concerned.

_________________
1992 Baja 38 Special Twin 502 Mags

03 Stingray 3.0
88 261 Liberator 460 King Cobras
95 Bayliner 1850 3.0
77 Fiber Form 20ft 350/385hp
70 Wescraft 1800 SS 455 Jet

Lead, Follow, or get the Hell out of the Way!

Ah, the good 'ole days...

The company I work for is very conservative, which is why we maybe didn't make as much money as others from the late 90s - 2008 but also why we were one of the few to remain profitable over the past two years. We insure small to mid size businesses of certain "classes" but because a lot of times the owners of those businesses want all their insurance in one spot we offer some personal insurance (home, auto, RV, etc.) I'm not sure if we insure boats or not.

But even if it's a large account, where we'd really like to keep the business owner happy, there are certain things that will get a definete no! Like fast cars, motorcyles, etc. Whether it's accurate or not, it's just one of those unbendable rules. Even though it's easily argued that a 19 YO old on a 1984 Suzuki 550 is a higher risk than a 45 YO on a Yamaha R1, the R1 won't be insured by us.

I can only assume some companies will have similar rules for boats.

_________________
2005 Horizon 230 5.7 GXi/DP "Nauti Addiction"
Towed with a 2003 Suburban Z71

I can't seem to remember right now, But I do believe anything over the magic number of either it's was 53 or 55 MPH will affect the "insurance" policy cost in a big way.

I would quote exactly what the FW specs list for your particular boat. Should you every have a claim, there would be no disputing the information you originally gave the insurance company. This is what I do now and in the past.

My HP and top speed was required by my carrier when I originally requested a quote from them. Other than that, it does not appear anywhere on my policy.

_________________

2010 278 Vista
5.7 GXi DP

Past:
1999 225 Sundowner
5.7 GSi SX

Not sure if this helps at all, but our Baja is considered to be a "Go Fast" boat. It only reaches 53 MPH and my premiums are not to bad I don't think. Of course its an older model, but I have it insured for $25K and tied to my home owners policy as well and still only pay about $375/year with full coverage and additional covererage for on board stuff.

_________________
1998 Baja Boss 252 7.4L MPI Bravo 1 (SOLD)
2007 FW H200SS 5.0GXI (Sold)
2004 Chevy Silverado 2500 Crew 6.0L (tow vehicle)
1991 FW 170 Freedom 4.3L (SOLD)

Ask the adjuster what factors he wants top speed at. Water condition, load, trim setting etc... Two can play the stupid game.

_________________