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Author Topic:   Insuring an overpowered boat

onlyawhaler posted 02-26-2005 03:42 AM ET (US)
I have searched through the threads on the overpowering issues, both pro and con.
My question is that one chooses to overpower their Whaler, is there a insurance company that will insure that situation for an increased premium?
Thanks
Onlyawhaler
jimh posted 02-26-2005 08:46 AM ET (US)
In the Reference section article on this topic, The Traveller's Insurance Company is mentioned.
Can insurance coverage be purchased for boats powered above their rating?
http://continuouswave.com/whaler/reference/ratedHP.html
rves posted 02-26-2005 09:17 AM ET (US)
A customer of mine just obtained insurance for a new 32' skater, I am building the engines , and the insurance company called me to find out top speed ! I tried to BS them a little on the low side 95mph, but they were a little too smart for that ! So I asked them why would it matter so much , I mean 95,110,122mph? its all dangerous!
They said they have drastically different rates according to speed and power , the orig package of blown big blocks were going to cost my customer around $13,000 per year @ 130mph,
My customer changed his order to 496 natrually asperated engines and a 85mph projection (they believed that?) and the rate came down to $2300 per year. they told me they have performance plateaus and formulas that they use to rate overpower situations !
My 22 revenge insurance was the same amount with 300hp or 400hp $343. per year! the hull tag says 400hp and that is what I used because they said the price would indeed go up if I were to change to 400hp at a later date! GOOD LUCK T
Marsh posted 02-27-2005 06:49 AM ET (US)
My insuror was totally unconcerned when I asked the impact of my repower to a 115 hp on my '04 Montauk (rated at max 90hp). Zero impact on my premium. It may or may not matter that my insurance is liability only. I do not insure my boat for comprehensive coverage.
Marsh
waterguy posted 02-27-2005 01:21 PM ET (US)
I got the same answer from my agent as Marsh did concering my '01 Montauk.
brainstormer posted 02-27-2005 08:22 PM ET (US)
Same here, putting a 115 on my 100hp rated SuperSport 17.
There's no hard rules in the midwest ;-)
Binkie posted 02-27-2005 08:43 PM ET (US)
I can`t even get insurance on my boat. I`ve called several insurance companys, and they all tell me the same thing. We don`t insure unregistered boats. Sounds like discrimination to me. Its an antique race boat and I will only run it at the Antique Outboard meets.
rves posted 02-27-2005 09:11 PM ET (US)
binkie , we have whats called inland marine coverage on our non registerable equiptment and vehicles,trailers ect...
(its pricey though) T
onlyawhaler posted 02-28-2005 02:54 PM ET (US)
Just checking back in with some info on insuring overpowered boats. I picked up a nice mid 90s Johnson carb 200 over the winter and wanted to put in on my 18 outrage and retire the 150.
Little did I realize where this would go. I am presently insured with Progressive. Absolute no, I have called Travelers, no, Geico, no.
It is possible to call in on a Progressive existing policy and simply update the motor on line and they would probably not notice. But they have a over power clause and a coast guard plate clause and if it came to a claim, it could possibly be denied paticularly if bodily injury was involved.
I am bringing this up simply because it appears that overpowering an outboard boat happens alot (different rules for stern drives) in amounts above the plate limit it will potentially void a claim when the light is put on it.
From a coast guard issue, transom can handle it isn't the issue.
It is all about the insurance issue and it appears that when push come to shove with an outboard overpower situation there is real risk in the claim area in not being covered on the back end.
Simply putting it through and it not being noticed doesnt' appear to be the answer. It can be denied in a accident situation and the plate on the boat will be used.
If anyone knows any different or a reputable company that would insure an outboard overpower, please let me know.
So far it looks dismal
Onlyawhaler
LHG posted 02-28-2005 03:14 PM ET (US)
Safeco Insurance company will do it. That's where I insure mine with the twin 115's. Contact a local Safeco independent Agent.
Binkie posted 02-28-2005 07:20 PM ET (US)
onlyawhaler:
Here`s another way of looking at this overpower situation, if you don`t have a motor under warrentee.Here`s an example. Many small lakes have a 10 horsepower limit. That is the reason manufactures have been making 9.9hp motors for years. Mercury`s 9.9 and 15hp motors are identical on the exterior. Many people buy 15hp Mercs and then get a 9.9 hood or decals, and there good to go on the small lakes. I don`t know if the 200hp Johnson and the 150 takes the same hood but you could change the decals so you have a 150. Then the most important thing to do, is go to a marine salvage yard and pry off the Id plate from a 150 and interchange it with your 200 plate and presto you have a 150. If you have a claim, the insurance company will not tear down your motor to see if it is a 200. Just remember for yourself in case you have a repair. This is called fudging. Politicions do it all the time. That is how they get to be president. LOL I have never done this personally, but I would in a heartbeat, if I had to.

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Author	Topic: Insuring an overpowered boat
onlyawhaler	posted 02-26-2005 03:42 AM ET (US) I have searched through the threads on the overpowering issues, both pro and con. My question is that one chooses to overpower their Whaler, is there a insurance company that will insure that situation for an increased premium? Thanks Onlyawhaler
jimh	posted 02-26-2005 08:46 AM ET (US) In the Reference section article on this topic, The Traveller's Insurance Company is mentioned. Can insurance coverage be purchased for boats powered above their rating? http://continuouswave.com/whaler/reference/ratedHP.html
rves	posted 02-26-2005 09:17 AM ET (US) A customer of mine just obtained insurance for a new 32' skater, I am building the engines , and the insurance company called me to find out top speed ! I tried to BS them a little on the low side 95mph, but they were a little too smart for that ! So I asked them why would it matter so much , I mean 95,110,122mph? its all dangerous! They said they have drastically different rates according to speed and power , the orig package of blown big blocks were going to cost my customer around $13,000 per year @ 130mph, My customer changed his order to 496 natrually asperated engines and a 85mph projection (they believed that?) and the rate came down to $2300 per year. they told me they have performance plateaus and formulas that they use to rate overpower situations ! My 22 revenge insurance was the same amount with 300hp or 400hp $343. per year! the hull tag says 400hp and that is what I used because they said the price would indeed go up if I were to change to 400hp at a later date! GOOD LUCK T
Marsh	posted 02-27-2005 06:49 AM ET (US) My insuror was totally unconcerned when I asked the impact of my repower to a 115 hp on my '04 Montauk (rated at max 90hp). Zero impact on my premium. It may or may not matter that my insurance is liability only. I do not insure my boat for comprehensive coverage. Marsh
waterguy	posted 02-27-2005 01:21 PM ET (US) I got the same answer from my agent as Marsh did concering my '01 Montauk.
brainstormer	posted 02-27-2005 08:22 PM ET (US) Same here, putting a 115 on my 100hp rated SuperSport 17. There's no hard rules in the midwest ;-)
Binkie	posted 02-27-2005 08:43 PM ET (US) I can`t even get insurance on my boat. I`ve called several insurance companys, and they all tell me the same thing. We don`t insure unregistered boats. Sounds like discrimination to me. Its an antique race boat and I will only run it at the Antique Outboard meets.
rves	posted 02-27-2005 09:11 PM ET (US) binkie , we have whats called inland marine coverage on our non registerable equiptment and vehicles,trailers ect... (its pricey though) T
onlyawhaler	posted 02-28-2005 02:54 PM ET (US) Just checking back in with some info on insuring overpowered boats. I picked up a nice mid 90s Johnson carb 200 over the winter and wanted to put in on my 18 outrage and retire the 150. Little did I realize where this would go. I am presently insured with Progressive. Absolute no, I have called Travelers, no, Geico, no. It is possible to call in on a Progressive existing policy and simply update the motor on line and they would probably not notice. But they have a over power clause and a coast guard plate clause and if it came to a claim, it could possibly be denied paticularly if bodily injury was involved. I am bringing this up simply because it appears that overpowering an outboard boat happens alot (different rules for stern drives) in amounts above the plate limit it will potentially void a claim when the light is put on it. From a coast guard issue, transom can handle it isn't the issue. It is all about the insurance issue and it appears that when push come to shove with an outboard overpower situation there is real risk in the claim area in not being covered on the back end. Simply putting it through and it not being noticed doesnt' appear to be the answer. It can be denied in a accident situation and the plate on the boat will be used. If anyone knows any different or a reputable company that would insure an outboard overpower, please let me know. So far it looks dismal Onlyawhaler
LHG	posted 02-28-2005 03:14 PM ET (US) Safeco Insurance company will do it. That's where I insure mine with the twin 115's. Contact a local Safeco independent Agent.
Binkie	posted 02-28-2005 07:20 PM ET (US) onlyawhaler: Here`s another way of looking at this overpower situation, if you don`t have a motor under warrentee.Here`s an example. Many small lakes have a 10 horsepower limit. That is the reason manufactures have been making 9.9hp motors for years. Mercury`s 9.9 and 15hp motors are identical on the exterior. Many people buy 15hp Mercs and then get a 9.9 hood or decals, and there good to go on the small lakes. I don`t know if the 200hp Johnson and the 150 takes the same hood but you could change the decals so you have a 150. Then the most important thing to do, is go to a marine salvage yard and pry off the Id plate from a 150 and interchange it with your 200 plate and presto you have a 150. If you have a claim, the insurance company will not tear down your motor to see if it is a 200. Just remember for yourself in case you have a repair. This is called fudging. Politicions do it all the time. That is how they get to be president. LOL I have never done this personally, but I would in a heartbeat, if I had to.