Other Does ANYONE have AM Hull Insurance?

GDFL

GDFL

Location
Melbourne, FL
I'm struggling here. I haven't ridden much at all this year (maybe 7 gallons) so it wasn't a big deal. I've been searching for full coverage insurance for my Matrix and I can't find ANYONE that offers it. I'm talking about legitimate insurance that will actually pay out if I need it, not some backwards way of getting it done. It is registered in AL as a homebuilt and has a state assigned VIN.

Does anyone have insurance on an aftermarket hull/ski? I've searched and searched and not found anyone that does. I have only found one place to quote it and based on the info he gave me, I have no confidence that he knew what he was doing. Any help? Are there really hundreds of big $$ skis out there with no coverage or liability only?
 
OCD Solutions

OCD Solutions

Original, Clean and Dependable Solutions
Location
Rentz, GA
I got a quote online from Progressive and it was $897 for the year...Our current State Farm agent said they could do something for us but after taking down all the details we haven't heard anything back since. I think that's a bad sign.
 
RyanITV

RyanITV

Living on the lake!
Location
Lewes, DE
I insured my 1000cc Matrix with progressive as a "2010 Florida Matrix Pro" as it was titled as a home built boat in Florida and given a HIN before I bought it. I just set the value at what it would cost to replace it and made sure the option was to pay that agreed-upod value (I picked $40k). The coverage costs me $639/yr. By comparison, the 97 RN, 2008 RXPX and 2008 RXTX I have insured on the same policy are all between $165-185/yr. with $1000 deductibles across the board.

Ryan
 
freestylegeek

freestylegeek

waiting...
Location
Grand Rapids, MI
In addition to coverage for a high dollar custom boat, I've been struggling (more so) with LIABILITY insurance!!!! That's what concerns me far more than replacement value. If I need to, I can self insure a $20,00-$40,000 machine. I don't want to self insure a $2,000,000 liability claim if my boat paralyzes or kills someone. I'll have to give Hagerty a call.
 
RyanITV

RyanITV

Living on the lake!
Location
Lewes, DE
On the liability front, there's also Personal Umbrella policies available - always a good idea, considering someone could sue you at a backyard BBQ if the steak was too hot and they burn themselves...
 
freestylegeek

freestylegeek

waiting...
Location
Grand Rapids, MI
RyanITV said:
On the liability front, there's also Personal Umbrella policies available - always a good idea, considering someone could sue you at a backyard BBQ if the steak was too hot and they burn themselves...
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Absolutely!! BUT, the umbrella won't cover anything that isn't already covered. For example, if I have liabilty inusrance on my ski, THAT pays the first $300,000, THEN the umbrella kicks in and covers the the remaining $1,000,000. If I dont' have liability on my ski, the umbrella does nothing.
 
RyanITV

RyanITV

Living on the lake!
Location
Lewes, DE
freestylegeek said:
Absolutely!! BUT, the umbrella won't cover anything that isn't already covered. For example, if I have liabilty inusrance on my ski, THAT pays the first $300,000, THEN the umbrella kicks in and covers the the remaining $1,000,000. If I dont' have liability on my ski, the umbrella does nothing.
Click to expand...

Great point!
 
GDFL

GDFL

Location
Melbourne, FL
I called Markel. They can't do full coverage. The lady gave me a quote pending underwriting and then called back and said the underwriters won't take the risk. Progressive wouldn't cover when I called their national number. I'm still stuck.
 
freestylegeek

freestylegeek

waiting...
Location
Grand Rapids, MI
GDFL said:
I called Markel. They can't do full coverage. The lady gave me a quote pending underwriting and then called back and said the underwriters won't take the risk. Progressive wouldn't cover when I called their national number. I'm still stuck.
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So Markel wouldn't do full coverage, but they'd do liability, right?
I'm also waiting to hear back from Grundy insurance as well.

I think once we find a place that will insure, they're going to get about 10-15 policies written in a 24 hour period!
 
TOBY

TOBY

BNA
Location
NashVegas
GDFL said:
I called Markel. They can't do full coverage. The lady gave me a quote pending underwriting and then called back and said the underwriters won't take the risk. Progressive wouldn't cover when I called their national number. I'm still stuck.
Click to expand...

you comming to nats? i got a guy LOCAL that got my REV (homebuild) /HM- insured no prob..
 
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