Liability insurance for 'homebuilt' or 'kit' watercraft

[freestylegeek]

What are you fellas with custom skis that are titled 'homebuilt' or 'kit' doing for liability insurance? My broker can't find anyone to write a policy for liability on my "assembled" watercraft. So guys with Rickters, Q8's, XFT's, Waterdawg hulls - who are you using? My umbrella policy won't cover liability either because it has to have a watercraft policy to cover the first $500K before it'll kick in.

I'm kinda not liking this.

 

[WAB]

Most big name companies reject all coverage on Kit or homemade motorcycles, cars, boats, etc.
Try these guys:
skisafe/sullivan companies - 800-225-6560
ocean marine ins - 310-493-6677
nat'l marine underwriters - 800-262-8467

 

[freestylegeek]

Killer - thank you WAB!!!

 

[Alex]

let me know who you use im looking for insurance on the rickter

 

[freestylegeek]

Well, my agent just checked with all 3 and they are not licensed in Michigan, so they will not do it.
Any other suggestions of companies that might do it? These companies write $30-$40 million liability policies for offshore boats that can go 120+ mph, but they won't write $500K for a 45 mph jetski.... UGH!!!!
I need help!

Alex - as far as your Rickter goes, I think RRP qualifies as an OEM, so you shouldn't have a problem. It's the "kit built" thing that seems to throw the wrench into the whole thing.

 

[tipafew]

But I think the Rickters don't come with VIN or title right? I think they will end up registered as home built too?????

 

[Cannibal]

Might be time to find a crapped out SN hull on CL. What you do with that hull and it's HINs and Title is up to you. :sneaky:

 

[bllewis394]

What are you fellas with custom skis that are titled 'homebuilt' or 'kit' doing for liability insurance? My broker can't find anyone to write a policy for liability on my "assembled" watercraft. So guys with Rickters, Q8's, XFT's, Waterdawg hulls - who are you using? My umbrella policy won't cover liability either because it has to have a watercraft policy to cover the first $500K before it'll kick in.

I'm kinda not liking this.

are you required to have it there or do you feel you need it? i'm just wondering because it's not a req in NC to have liability.

 

[freestylegeek]

are you required to have it there or do you feel you need it? i'm just wondering because it's not a req in NC to have liability.

In Michigan, I want to have it. There's always a chance of damaging an expensive property on the lake, or worse severely injuring or killing someone. I want my assets protected if something like that ever happens. It's so cheap (on everything else) that it's dumb not to have it.

 

[smusleh]

In Michigan, I want to have it. There's always a chance of damaging an expensive property on the lake, or worse severely injuring or killing someone. I want my assets protected if something like that ever happens. It's so cheap (on everything else) that it's dumb not to have it.

Keep me posted on what you find because I have been looking myself and haven't had much luck.

 

[ncbrock]

Might be time to find a crapped out SN hull on CL. What you do with that hull and it's HINs and Title is up to you. :sneaky:

Id try this also.

 

[Waternut]

That's funny that this thread was just started since I just signed up for insurance through Progressive this morning. I insured my stunt hull for what it would cost to replace everything with new/similar parts and it came to around $16k so that what I set the value at. My yearly rate is $180.

My coverages are as follows:
-Bodily Injury & Property Damage:
$100,000 person/$300,000 accident/$50,000 property damage
-Uninsured Boater:
No coverage
-Medical Payments:
No coverage
-Fishing Equipment:
No coverage

-Vehicle coverages for 2010 Other Manufacturer Not Listed Stunt Hull :
-Comprehensive:
$2,500 deductible (Total Loss Replacement/Purchase Price)
-Collision:
$2,500 deductible (Total Loss Replacement/Purchase Price)
-On-Water Towing:
No coverage
-Coastal Navigation:
75 Nautical Miles
-Replacement Cost Personal Effects:
No coverage
-Roadside Assistance:
No coverage

Granted the coverages I chose aren't spectacular but at the same time, a whole lot better than nothing at all. Additionally, since there is no category for homebuilt PWC, I had to register it as a mini jetboat. I registered the hull as a homebuilt and therefore was able to give them my homebuilt HIN #.

 

[rollin5150]

Id try this also.

The problem with using a SN or any other boats vin is that if you make a claim for replacement, they will look up that model year and such and price it accordingly. You could really loose out.

 

[Cannibal]

The problem with using a SN or any other boats vin is that if you make a claim for replacement, they will look up that model year and such and price it accordingly. You could really loose out.

You should be able to have your agent write the policy with an agreed upon value. Keep all receipts for proof. Now, the OP is just looking for liability insurance, so it really wouldn't matter if he did $500k in damage with a SN or with his custom hull. He's looking to protect his other assets in the case of an accident.

If you wanted to get all technical, you can replace your hull. It may be too late, but worth checking on. Let say you have a crapped out SN hull and you buy a nice carbon Superfreak hull to replace that. That would be considered a replacement hull and since it comes with no HINs, the State Patrol will inspect it, certify the old hull is yours, and either remove the HINs and affix them to your new hull, or have a certified technician do it. Since there would be no proof of whether you bought just a hull on CL or an entire ski, it could easily be justified that all of the donor parts that went into your custom hull came from the crapped out one. This would be the completely legit way of titling an A/M hull.

 

[kevbo]

Dont expect a state to willingly allow replacement hulls, registration is how they make money. The government will eventually wise up to aftermarket hulls and start having cops impound ones with a Kawi or Yamaha HIN. An airplane is about the only thing that is not titled by a state and can be almost completely replaced without new paperwork.

 

[shawn_NJ]

Another option is to look into a personal liability umbrella policy, if you are interested in liabilty/protecting your assets. Covers you in alot of different lawsuits/accidents (car crashes, bar fights, dirt bike crashes, boats, jetski throttle stick and plowing into 700K boat, snow mobile & atv crashes) which gives you really wide range of coverage for the $$$. And you can buy a few million in coverage for about the same price as a jetski policy.

 

[SUPERJET-113]

How is your ski licensed geek?

 

[WAB]

Maybe check with the AWA, apba, or ijsba and see if they have any ideas for ya??

He's got the umbrella, but as he said the umbrella policy requires that he have a seperate $500k liability policy on the ski. Called 'underlying limits'.
The umbrella has +Million liability, but only after the primary liab policy in the ski reaches it policy limit. So really, the umbrella has a $500k deductible before it provides any coverage.

Everybody should have liability coverage.

waternut, I'd call progressive's underwriting or claim dept and make sure they actually cover aftermarket jetskis. It would stink to pay for the policy, then have a claim denied.

 

[shawn_NJ]

Maybe check with the AWA, apba, or ijsba and see if they have any ideas for ya??

He's got the umbrella, but as he said the umbrella policy requires that he have a seperate $500k liability policy on the ski. Called 'underlying limits'.
The umbrella has +Million liability, but only after the primary liab policy in the ski reaches it policy limit. So really, the umbrella has a $500k deductible before it provides any coverage.

Everybody should have liability coverage.

waternut, I'd call progressive's underwriting or claim dept and make sure they actually cover aftermarket jetskis. It would stink to pay for the policy, then have a claim denied.

Ahhh didnt see that he already had an umbrella. Ya I have progressive for my first 500k liability only on the SJ. But I know progressive would not cover my AM lightweight X2 here in NJ when I tried to have them insure it.

 

[freestylegeek]

That's funny that this thread was just started since I just signed up for insurance through Progressive this morning....
Granted the coverages I chose aren't spectacular but at the same time, a whole lot better than nothing at all. Additionally, since there is no category for homebuilt PWC, I had to register it as a mini jetboat. I registered the hull as a homebuilt and therefore was able to give them my homebuilt HIN #.

Interesting. I didn't think about registering it as a mini jetboat. Technically, that's what it is anyway. I'll look into that and see if they'll cover an aftermarket "jetski" under that.
Thanks!