- Location
- Long Island
Doesn't sound like insurance will cover a loss due to sinking while riding. You would ultimately have to lie about what you are doing with the Jetski for it to fall under their rules of coverage. Paying 300 a year for nothing
Other How do you insure your AM hull build
- Thread starter rwilliamtaylor
- Start date
- Location
- Annapolis, MD
I have called multiple companies. And a friend who's a lawyer himself stated it does not matter what they agree on, you can insure a xbox 1 for 100,000$ but go and try to make a claim on it, when it all hit's court your getting 0. You can have all the text's saved and photo's, ect you want. And my fear is paying $xxx a month for something is ok till push comes to shove and your ski is at the bottom of the ocean and you want $20,000 for it. He says what i fear, " your not getting it ".
Just got off the phone with another agent. " Well i go right to the Rickter website and see people backflipping them. That off the bat is a NO GO ".
I found the main problem is with them all i have no way to prove such value of a ski, it's not like a boat or car in that case. And for it's main purpose to be flipped and thrashed nobody will give you a dime for that. You can lie, but once your make a claim and they investigate it do you wanna go to jail for fraud? It's sad it's just such a gray area. We all want our stuff insured most of us are on 20k ski's plus. But I want real proof of a real claim in a real case that Joe Nobody got his say 20k or 30k for his carbon 1200 setup. It's never happen i can bet you that.
Just got off the phone with another agent. " Well i go right to the Rickter website and see people backflipping them. That off the bat is a NO GO ".
I found the main problem is with them all i have no way to prove such value of a ski, it's not like a boat or car in that case. And for it's main purpose to be flipped and thrashed nobody will give you a dime for that. You can lie, but once your make a claim and they investigate it do you wanna go to jail for fraud? It's sad it's just such a gray area. We all want our stuff insured most of us are on 20k ski's plus. But I want real proof of a real claim in a real case that Joe Nobody got his say 20k or 30k for his carbon 1200 setup. It's never happen i can bet you that.
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^^^^
Thats what I am worrying about as well. I would feel a lot better being "fully insured" but the few times it's been asked if WakeZone ever paid a claim or whatnot,.....it was never answered??!!!!
I'd like to know too!!
chadman154
#Itsonlymoney !!!!!
- Location
- Dirty south
email sent!
- Location
- Fort Worth, Texas
It was hard to find a seaworthy agent... I just left all my info and i'll post what i get.... wakezone was $503 if paid in full, but they found i had 1 speeding ticket at 5mph over and turned it to $575 which i think is a bit high...that's if i pay a year in advance... it's around $650/yr if i pay in 2 or 4 pmts.... I may be a little tight but i can't see spending that much on a ski that's used very little and only during 6 months of the year... Hopefully seaworthy will get me in like you at $2-400
What are you trying to insure and for how much?
- Location
- Fort Worth, Texas
18k trinity Epic pro...
^Should be cheaper than those other companies. After reading some of the posts regarding "exclusions" I'm going to review my current binder.
wakezoneINS
WakeZoneInsurance
- Location
- Southern California
Sorry guys but I do not come on here every day and quite honestly, I don't get feed messages. I am crazy busy this time of year so I'm sorry you think I haven't answered you. Here's the deal, it's what I have told all callers that ask...
Thankfully our carrier for custom skis hasn't had to pay any claims from guys on this forum that went through Wake Zone to get a policy, haven't had to. If we were, then the carrier would cut off the custom ski market and claim that it was not a profitable line for them. Our agency does have claims submitted for all lines of marine coverage with our contracted companies. I can tell you truthfully that the last time one of our carriers denied a claim was about 9 years ago. The claim was denied for serious misrepresentation (changed his engines and didn't report it to us). Secondly, if you have read my previous posts, you'll note that our policies are AGREED VALUE for the full amount of your ski BUT I put high deductibles on them to keep "small claims" at bay and in your hands. The purpose of the policy is for catastrophic losses.
I have been insuring hard to place marine risks for many years. I have seen claims of all types. The one thing our carriers do, is live up to the terms of the policy. IF the policy says they need to pay, THEY DO! We only work with A+ Rated first class preferred carriers. I do not write junk insurance policies like Progressive, Seaworthy etc. I assure you that if I can insure a 202mph Turbine powered 50' Mystic, I can surely insure a custom jet ski. It's all hard to place and THAT IS WHAT I DO! THAT IS WHAT I AM KNOWN FOR. The reason I can do it over the next Joe Smith agent is because 1., I have relationships with carriers that they do not. 2.) I understand the risk 3.) I dot my i's and cross my t's every stop of the way. Yes, it is a pain in the back side when I require receipts. Yes, it is a pain in the backside when I tell you that I will not let you use anything but a LEGIT HIN (not one you took from another USCG approved vessel).
But at the end of the day you walk away with a real policy from a real insurance company that knows exactly what they are insuring because we documented and underwriting accepted it before actually issuing a policy.
Yes, my policy IS going to be more expensive. Why? BECAUSE IT IS A REAL POLICY with a carrier that understands EXACTLY what they are insuring and that stand by their policy. I use this company personally and have been through their claims department personally. I believe in them.
I realize that everyone is suspect, And given your options for so many year, I don’t blame you! But, the bottom line guys is that there is NO sale that you could put in front of me that is worth the solid reputation I have built for myself and my agency in the marine insurance world. I would not sell a policy that wasn’t valid and risk all I have worked for to sell a $400 insurance policy where I make $40.. Not worth it to me. My agency does well and I am not desperate for business.
I have noticed that the custom jet ski market lacks solid and legit insurance companies. I found a carrier for that need and filled it. For those that would like assistance in insuring their skis, I am here. IF not, no big deal, I am still here should you need any insurance advice or have any questions.
Guys, if you need your questions answered, please call or email me. I am a straight shooter and run a no BS agency. Everything in my agency is done 100% above the line.
if you need references google my company. Go to offshoreonly.com INSURANCE section.
I thought your policy price was pretty reasonable, thanks for helping correctly insure my ski, it's much appreciated.
Thanks for coming on this form and helping out, it was by this that I found your company, many Thanks
Edit: The policy helps for sure and I feel way more comfortable, but My wish would be to have coverage against sinking and theft while at an organized event
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- Location
- Lake Lotawana, MO
A $300 yearly premium for an agreed value of $8000 for my ski is very reasonable. I was paying $15 a month for my 94 SN with a local agent and it was a cash value policy which wouldn't have been worth my time for filing a claim. Safeco/wakezone was very easy to work with and I had the documents to me within a day or two. Just received my full policy and everything looks great!
wakezoneINS
WakeZoneInsurance
- Location
- Southern California
It does not cover you while IN a competition, run or organized event. It surely does cover it any other random time.
wakezoneINS
WakeZoneInsurance
- Location
- Southern California
Thank you!
I am glad you are happy. You would be shocked the responses I get.... I appreciate your support!
wakezoneINS
WakeZoneInsurance
- Location
- Southern California
I thought your policy price was pretty reasonable, thanks for helping correctly insure my ski, it's much appreciated.
Thanks for coming on this form and helping out, it was by this that I found your company, many Thanks
Edit: The policy helps for sure and I feel way more comfortable, but My wish would be to have coverage against sinking and theft while at an organized event
I am happy that I could help. Thank you for trusting in me and allowing me to assist you. Welcome to Wake Zone!
- Location
- chardon, ohio
I have to throw a comment in here. WakeZone is GREAT and it is even better when you can talk to a REAL person and not have to hit 1 to talk to someone then hit 1,2,3 or 4 for a quote. They answer all the questions you have and are professional when you talk to them. I couldn't be happier with my policy from them. Sure it may be higher but I can trust that they will do their part if I need them to and that in its self is worth the extra money.
LOTS OF BENIFITS USING WAKEZONE.
LOTS OF BENIFITS USING WAKEZONE.
- Location
- Long Island
So if I'm out casually riding doing backflips and barrel rolls in the surf and I crash off the thing resulting in it sinking who's fault is it? You guys are really going to pay for my $15,000 ski?
Quinc
Buy a Superjet
- Location
- California
I asked the claim adjuster from Progressive this same question about my Superjet and hey said yes. Even if someone else was riding it.
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- Location
- Fort Worth, Texas
well, As much as I don't like the price, I really don't have a choice and I hope that the rate goes down upon renewals.... The benefit tho is someone that is in these forums and seems to be an advocate for us. I tried several other places and they all won't insure custom or home built skis.... If they said they would, they end up not doing it... I also tried another agent that is a Safeco and seaworthy agent and they also said it was a no-go which to me, means they didn't try because of the small amount they would make. That really is what made my decision to go with Stacy... She does make it painless and always replies even to my bitching about price lol... now that is a good agent
- Location
- Forsyth County, GA
So, the way I read what Stacy said was that if claims began to be made that their carrier would cut them off. Doesn't that blatantly state that if claims were ever made they would eventually not pay anymore. Well, my question is how many would it take before they stop paying should claims start coming in? To me there also seems to be a lot of gray area blanket statements for them to wiggle out of.
Like the "damage caused by an intentional act" what intentional act? A flip off a boat wake??
Loss or damage due to the vessel not being structurally sound. Ok landing upside down on a flip, hood cracking apart and sinking? Does that mean the hood wasn't structurally sound causing it to sink?
Damage from wear and tear? Ok, can normal abuse from freestyle be wear and tear?
There just seems to be a lot of loop holes for them to use making me skeptical. Especially since the claims have never been proven. Also, I am in no way bashing I am simply curious. I worry about my ski every time I go out and would love to have some good assurance that if something did happen I'm covered. To me 300-400 a year is well worth potentially being out 10-20k
Like the "damage caused by an intentional act" what intentional act? A flip off a boat wake??
Loss or damage due to the vessel not being structurally sound. Ok landing upside down on a flip, hood cracking apart and sinking? Does that mean the hood wasn't structurally sound causing it to sink?
Damage from wear and tear? Ok, can normal abuse from freestyle be wear and tear?
There just seems to be a lot of loop holes for them to use making me skeptical. Especially since the claims have never been proven. Also, I am in no way bashing I am simply curious. I worry about my ski every time I go out and would love to have some good assurance that if something did happen I'm covered. To me 300-400 a year is well worth potentially being out 10-20k
Fro Diesel
creative control
- Location
- Kzoo
Thank you for offering a service to our tiny niche market wakezone!