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insurance 35 mph max speed


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my underwriter wants to sell a policy that says my boat max's out at 35mph and says that is a normal occurrence in selling the towboat policy..

i bf at 42 and boat tops out at 48.

is that a normal or line item in your policy?

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My concern with that clause would be, if in fact you had an incident and it was while under way,

they could / might renegade on insurance by the simple fact that your boat goes over the stated limit top speed.

Something to think about.

By the way I have no speed clause in my policy.

Edited by Dare2goBare
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yeah, i'm not heading in that direction unless it gets changed.

i don't like that the umbrella policy wants drivers named, either.

not like you can ski alone.

i've skied a dozen boats this year and most of those owners have piloted mine.

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I look at the primary driver statement to be like on your car insurance. They need someone on each vehicle to list as the primary (main) driver so they can come up with a risk based assessment (i.e how many DUIs, tickets or accidents does the person that will do the most driving on that particular vehicle have). As with anyone else with a boat this method really doesn't translate over to boating as there are always going to be a number of different "drivers" if you plan on doing any activities yourself. From my perspective there can only be one primary (main) driver on a single owner boat and that is typically the owner. Everyone else in a single owner boat is secondary or an occasional driver. Adding more only increases your rate as they are assuming the other persons listed will be using the boat exclusively on their own or equally as much, which could be true with some situations but certainly not in most.

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C

my underwriter wants to sell a policy that says my boat max's out at 35mph and says that is a normal occurrence in selling the towboat policy..

i bf at 42 and boat tops out at 48.

is that a normal or line item in your policy?

My wife has been selling insurance for above 35 years here in Michigan., if you remember when the Silver Dome roof caved in, that was her policy. Her first statement after she fooled her eyes was " what, go fine another insurance salesman and company". Also as stated, if they is an accident and it can be proved that you were at a higher speed you are not covered. Never had to give the names of any other then the main driver, which is myself.

In fact all of are boats went faster then 35, OB/IB. Most pontoons go faster.

Bhai

We have had either SkiSafe or Progressive on all of them. Now we have never had claim, in 1985 when the radio and lose gear was taken, but it was under the deductible, $250 at the time.

Only issue we have had, was the replacement value of ski, vest and such, (when I go I could have close to $2000 of ski equipment. For all of our skis, ( 3 top end skis and badges), wet and dry suit and other equipment we have added I it to our house policy as scheduled property just like our jewelry, for pennies on the dollar.

Any issues with the speed that you can tow the boat at ?

@Tavno if you have questions, PM me and

Edited by onamission
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In 2002 when I was getting my insurance binder, I was questioned about the speed of the boat. Somebody at the company (State Farm) was concerned that the boat was 21' long with a 325 HP engine. If I remember correctly, I had to attest to the fact that the boat would not go over 70 MPH. My agent said it had something to do with the proliferation of Bass Boats around here that can reach insane speeds.

  • Like 2
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In 2002 when I was getting my insurance binder, I was questioned about the speed of the boat. Somebody at the company (State Farm) was concerned that the boat was 21' long with a 325 HP engine. If I remember correctly, I had to attest to the fact that the boat would not go over 70 MPH. My agent said it had something to do with the proliferation of Bass Boats around here that can reach insane speeds.

Forgot about that, speed t hiing we had to do the same thing a number of years ago.

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I recall a number of years back having to sign something about top speed because my 19' MasterCraft had a 285HP engine in it. They were estimating the top speed at 65 MPH and wouldn't touch it without me signing a statement that the top speed was under 50 MPH. I think I was with AAA at the time and seemed to have no clue about boats.

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I recall a number of years back having to sign something about top speed because my 19' MasterCraft had a 285HP engine in it. They were estimating the top speed at 65 MPH and wouldn't touch it without me signing a statement that the top speed was under 50 MPH. I think I was with AAA at the time and seemed to have no clue about boats.

This reminds me of when I had my 18' Catalina powered by a 454 CID with a Dominator Jet drive, every time I went

to renew my insurance, I had to explain what a jet drive was, Not a Jet Engine... :Doh:

and declare my top speed.

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Hay Dare, I had a 21 foot hornet big block whith a panther jet, dominion of Canada did my ins back then, at one point my policy stated I could not fly over city's, gota love Canada

  • Like 1
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To many people today are looking to lower Insurance costs so most agents will lower values and what not. In the end when something happens people find them self's being under Insured and paying thousands out of pocket.

In Ca. with all the fires and people losing homes, agents are having to pay the full policy without being close to the insured being made hole.

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I'm with Progressive and I don't have that clause.

I am not sure about any clause, but when I applied for insurance, Progressive did ask me about the top speed. I would suspect if I answered 65MPH, my rate would be different. It sounds like most insurances ask about top speed, even if they do not have a specific exemption in the policy for going over that. It would not suprise me that even without anything in print, they could deny a claim if they could prove my boat was going faster than the 45 MPH I told them it could go. That top speed is clearly listed on my policy declaration.

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i thought the general rates were based on HP/Length for the majority of insurance companies these days? At least thats how the few insurance companies i've been with all cared about in years past...

although that stinks for most Towboat owners because they are geared slow ........well except mine :biggrin:

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