insurance help needed ASAP please read. thanks

[delemorte]

So my insurance agent required me to get a appraisal done on the boat before they woudl cover it. 200 bucks later and the appraisal is better than i had expected. However now they think my stock 350 with a holly 4 barrell is pushing over 500 horses.
I need some help here estimating the HP. If you think you can help post here but email me at sean.condra@twcable.com and i can forward you the appraisal.
If you do insurance and think you can help me out let me know as well...
thanks guys.

[ratso]

So my insurance agent required me to get a appraisal done on the boat before they woudl cover it. 200 bucks later and the appraisal is better than i had expected. However now they think my stock 350 with a holly 4 barrell is pushing over 500 horses.
I need some help here estimating the HP. If you think you can help post here but email me at sean.condra@twcable.com and i can forward you the appraisal.
If you do insurance and think you can help me out let me know as well...
thanks guys.
NADA should have something on that if it is factory stock... Heck, a stock 454 is usually only around 330 or so... What insurance company?

[uvindex]

However now they think my stock 350 with a holly 4 barrell is pushing over 500 horses.Did they just pull that number out of their ass or did the appraiser have something to do with it or what?
It's easy to Google using keywords like "mercruiser 350 horsepower" to see that an engine like you describe is not going to make 500+ HP (for example, below is a link to a 350 MAG MPI rated at 300HP). Good luck!
http://www.lakeconroemarine.net/Mercruiser_Parts/Mercruiser_350_MAG_MPI_Horizon/mercruiser_350_mag_mpi_horizon.html

[ULTRA26 # 1]

So my insurance agent required me to get a appraisal done on the boat before they woudl cover it. 200 bucks later and the appraisal is better than i had expected. However now they think my stock 350 with a holly 4 barrell is pushing over 500 horses.
I need some help here estimating the HP. If you think you can help post here but email me at sean.condra@twcable.com and i can forward you the appraisal.
If you do insurance and think you can help me out let me know as well...
thanks guys.
Why would anyone think a stock 350 is anywhere near 500 hp? A stock 496 is only 425 and a stock 502 was 415 hp. Stock 350's generally range from 300 to 350 hp at the outside. :confused:

[delemorte]

i think the apprasier says this "Racing Chevy 350 Cubic Inch motor"
So they took racing to an extreme i think... i dont think a 350 is gona push 500 with our some major forced induction but WTF do i know. Any one out there who does insurance want to comment on this debocle...
See, this is how those Ebayers get their speed and HP rating.. they work for underwirters.

[delemorte]

NADA should have something on that if it is factory stock... Heck, a stock 454 is usually only around 330 or so... What insurance company?
State Farm.

[ULTRA26 # 1]

i think the apprasier says this "Racing Chevy 350 Cubic Inch motor"
So they took racing to an extreme i think... i dont think a 350 is gona push 500 with our some major forced induction but WTF do i know. Any one out there who does insurance want to comment on this debocle...
See, this is how those Ebayers get their speed and HP rating.. they work for underwirters.
Go to the GM Performace site. The racing version of the 350 puts out 350 HP and this is shown on the site.
http://skillmanracingparts.com/Merchant2/merchant.mvc?Screen=PROD&Product_Code=88958602&Category_Code=GPE
http://skillmanracingparts.com/Merchant2/merchant.mvc?Screen=CTGY&Store_Code=RM&Category_Code=GPE

[delemorte]

this is what my appraiser jsut sent me...
I hope the insurer cuts the crap... other wise im switching..
"It is my understanding that with the Olds BIG block 454, they were able to produce as much as 500hp with many modifications. The highest power rating on the SMALL block 350 that you currently have, with turbo was about 430hp and as yours (non Turbo) is set up I would guess that a maximum you would get on a Dyno without blowing it up would be around 375hp. Most of the boats with that block and setup like yours are rated at 300hp to 350hp. Even the newest boats with new 350 SMALL blocks aren't rated at more than 350hp. The big difference is that all you modifications have more to do with fuel delivery and spark advance. It is made to respond quickly but not built for top end. You are probably correct that the base rating of your engine is around the 300hp mark, maybe stretching out to about 325hp.
Some of these early Jet boats are available with the big block engines but they were not common in your size boat. You can find the boat without motor any where from $5000.00 to $8000.00 but they want an additional $8000.00 to $10000.00 for the big block engine added on.
Hope this helps."

[ULTRA26 # 1]

this is what my appraiser jsut sent me...
I hope the insurer cuts the crap... other wise im switching..
"It is my understanding that with the Olds BIG block 454, they were able to produce as much as 500hp with many modifications. The highest power rating on the SMALL block 350 that you currently have, with turbo was about 430hp and as yours (non Turbo) is set up I would guess that a maximum you would get on a Dyno without blowing it up would be around 375hp. Most of the boats with that block and setup like yours are rated at 300hp to 350hp. Even the newest boats with new 350 SMALL blocks aren't rated at more than 350hp. The big difference is that all you modifications have more to do with fuel delivery and spark advance. It is made to respond quickly but not built for top end. You are probably correct that the base rating of your engine is around the 300hp mark, maybe stretching out to about 325hp.
Some of these early Jet boats are available with the big block engines but they were not common in your size boat. You can find the boat without motor any where from $5000.00 to $8000.00 but they want an additional $8000.00 to $10000.00 for the big block engine added on.
Hope this helps."
St Farm, which is who I have, needs to read this statement, especially this You are probably correct that the base rating of your engine is around the 300hp mark, maybe stretching out to about 325hp. Advise your agent that your boat is at the outside 325 HP and if SF is going to rate it at 500, either going elsewhere or contacting the Department of Insurance.
John

[delemorte]

St Farm, which is who I have, needs to read this statement, especially this You are probably correct that the base rating of your engine is around the 300hp mark, maybe stretching out to about 325hp. Advise your agent that your boat is at the outside 325 HP and if SF is going to rate it at 500, either going elsewhere or contacting the Department of Insurance.
John
I will see what they say. I sent them that info. If they dont im taking my 3 cars my home owners personal liability and life insurance else were.. my jaw hit the floor when they said 500... I think that little 18 footer might be down right scary with 500 HP.

[ULTRA26 # 1]

I will see what they say. I sent them that info. If they dont im taking my 3 cars my home owners personal liability and life insurance else were.. my jaw hit the floor when they said 500... I think that little 18 footer might be down right scary with 500 HP.
Good luck. I have everything I own with them too. My boat and trailer are insured for $95K with a $1000 Ded ,stock power, $900 a year no lay up. In your part of the country and boat size etc, $300 to $375 should cover it, unless you have young drivers in the household.
John

[delemorte]

so this was State Farms responce:
"Sorry about the wait on this. My underwriter had to go to someone higher up and they are not able to write the policy. This is a racing engine and has racing capabilities. Even though the HP you will be operating at is much lower than its potential of 500... the engine is still operating at a HP over 300 and unfortunately it will still be considered too high performance for State Farm's guidelines.
I will recommend that you call an independent agency. Most of those types of insurance agents deal with companies that specialize in boats and they would likely have a program they would be able to place this boat in. "
and my rebutal:
"That’s fine and I completely understand. Can you get me a break down of our other policies as well and what they are costing us monthly and coverage so that I can also shop around for those while I am shopping for this. If I can get a better discount for multiple policies with another carrier we will probably take that avenue.
Thanks."
We pay them a small fortune... Im pretty pissed...

[ULTRA26 # 1]

so this was State Farms responce:
"Sorry about the wait on this. My underwriter had to go to someone higher up and they are not able to write the policy. This is a racing engine and has racing capabilities. Even though the HP you will be operating at is much lower than its potential of 500... the engine is still operating at a HP over 300 and unfortunately it will still be considered too high performance for State Farm's guidelines.
I will recommend that you call an independent agency. Most of those types of insurance agents deal with companies that specialize in boats and they would likely have a program they would be able to place this boat in. "
and my rebutal:
"That’s fine and I completely understand. Can you get me a break down of our other policies as well and what they are costing us monthly and coverage so that I can also shop around for those while I am shopping for this. If I can get a better discount for multiple policies with another carrier we will probably take that avenue.
Thanks."
We pay them a small fortune... Im pretty pissed...
Buddy,
I'm sorry to hear this. It sounds as if St Farm is being completely out of line. If I were you I would be taking all of my coverage elsewhere. I'm surprized that your agent wasn't able to have a bit more input. F'm and move on.
John M
PS. In CA, there have to be written guidelines that must be followed. Based on your description of the boat, St Farm's position seems unreasonable. I would also contact your State's Department of Insurance for assistance.