Custom/Hybrid Insuring a Rickter??

IWannaYama

IWannaYama

Location
Delray Beach, FL
Can anyone recommend an insurance company that will insure a new Rickter? I am having a hard time with this. My loan depends on me having proof of insurance on it with Liability with the Rickter HIN. Called progressive and they called me back and said the underwriter said that due to this ski being used for acrobatics and tricks, they cannot insure it. LOL. Someone help!
 
tightithrash

tightithrash

Zack Bright. I Thrash.
Site Supporter
Location
Oceanside, CA
Contact Zac Cullen of http://Protectthetoys.com. Protect The Toys specializes in insuring all things badass. Tell him Zack Bright sent you. He makes it happen. He's a local friend of my family. supports free riding and got me to France this year. Hit him up
 
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S

Schmidty721

someone turf my rails
Location
WI
IWannaYama said:
Can anyone recommend an insurance company that will insure a new Rickter? I am having a hard time with this. My loan depends on me having proof of insurance on it with Liability with the Rickter HIN. Called progressive and they called me back and said the underwriter said that due to this ski being used for acrobatics and tricks, they cannot insure it. LOL. Someone help!
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If you can't afford to buy it in the first place you sure as heck can't afford to lose a custom ski
 
shawn_NJ

shawn_NJ

Chasing waves.
Location
Daytona Beach
IWannaYama said:
Can anyone recommend an insurance company that will insure a new Rickter? I am having a hard time with this. My loan depends on me having proof of insurance on it with Liability with the Rickter HIN. Called progressive and they called me back and said the underwriter said that due to this ski being used for acrobatics and tricks, they cannot insure it. LOL. Someone help!
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Rickters do not come with HIN numbers. You have to get your state to issue you a homebuilt title and HIN. This is where it gets tricky because NO insurance company will touch a homemade HIN. Except....

Draggingto said:
I remember reading that a lot of companies wanted nothing to do with insuring custom skis. But if i remember correctly this was one of the few companys that where doing it. Not sure how it panned out, but might be worth a look into. I beleive they are forum members too.

http://www.wakezoneinsurance.com/
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Wakezone was the only company I ever got to give me a quote on insuring my Rickter with my NJ homemade title. (I reached out to over 50 companies) There underwriters would not do any agreed value policy in excess of $10,000 on a jetski. The quote I got was about $320/yr for 300k liability. I discussed with them about the value calculation used in the event of a loss.... I did not get a clear answer. I really dont think you'd ever see more then a few grand if anything at all in the event of a loss. Otherwise atleast they are willing to give you liability coverage, which is good. Doubt that is sufficient coverage for a loan though.
 
shawn_NJ

shawn_NJ

Chasing waves.
Location
Daytona Beach
MattSmith said:
Wakestone and they seem legit but still I want to see someone get paid after the loss
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X2, after talking with them about this, I'm VERY doubtful about any payout. They have so many outs in the contract. (hull/engine modifications clauses, competitions exemptions, race exemptions)
 
Matt_E

Matt_E

steals hub caps from cars
Site Supporter
Location
at peace
IWannaYama said:
Can anyone recommend an insurance company that will insure a new Rickter? I am having a hard time with this. My loan depends on me having proof of insurance on it with Liability with the Rickter HIN. Called progressive and they called me back and said the underwriter said that due to this ski being used for acrobatics and tricks, they cannot insure it. LOL. Someone help!
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Didn't the for sale thread for your Superjet hull imply that you were keeping the Superjet title and HIN for your Rickter?
http://www.x-h2o.com/threads/141841-2003-Superjet&highlight=

IwannaYama said:
No title included.
...
Not selling title. Going in Rickter
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Maybe I am wrong about that and/or you went through the motions of getting that Rickter legally titled.
If that's is not the case, you should be aware that this practice is a felony. Lots of people do it, sure. However, if found out, the vessel that HIN is attached to can and will be confiscated indefinitely.
If you use that HIN for insurance, the insurance company will write the policy for a Superjet. If you ever have a claim, the best case would be that they pay the claim for a Superjet. Worst case, they won't pay a dime.

Finally, I am reasonably certain that any bank writing a loan for such an illegally transferred title will likely sue you for fraud if they find out.


Ignore all that if I am wrong about the Superjet title. However, in that case you will have a hard time finding an insurance company that will do anything but liability on the ski (with a custom HIN). The company that Zack (tightithrash) referenced may be the solution; you'll have to call and find out.

Good luck.
 
IWannaYama

IWannaYama

Location
Delray Beach, FL
Well this 2013 does have a HIN number...
Starts with a TH-
It may not be a state issued HIN but it does have one
I was quoted $800 by wake zone for the minimum coverage !
 
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MattSmith

MattSmith

Wanna ride tommorrow am?
Location
Oceanside, California, United States, 108109819210
shawn_NJ said:
X2, after talking with them about this, I'm VERY doubtful about any payout. They have so many outs in the contract. (hull/engine modifications clauses, competitions exemptions, race exemptions)
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I guess I need to read my wakezone policy I wonder if there is any problems with jumping in the surf or arial manuvers. I may have a false sense of security.
 
Quinc

Quinc

Buy a Superjet
Location
California
waterfreak said:
I wonder what the insurance actually covers! Theft ? fire? hitting bottom? sinking?
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I talked to the claim specialist at progressive about my SJ and she told me that if the ski sunk even with someone else riding it, or if it was crashed into rocks etc it would be covered. Of course they will probably tell you anything to get your money and something completely different when it comes time to pay...
 
MattSmith

MattSmith

Wanna ride tommorrow am?
Location
Oceanside, California, United States, 108109819210
Quinc said:
I talked to the claim specialist at progressive about my SJ and she told me that if the ski sunk even with someone else riding it, or if it was crashed into rocks etc it would be covered. Of course they will probably tell you anything to get your money and something completely different when it comes time to pay...
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get in writing and will hold up in court. Their E and O insurance will have to pay out for mistakes or fraud.
 
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