State Farm Insurance MD

[Sadey]

Just tried to get a quote from State Farm which has to be from a broker licensed in the state for which the boat lives primarily. SF cannot write policies for boats with over a combined horsepower of 1000hp in Maryland. Anybody in MD care to chime in?

 

[madhatter1]

Thought you had 350HP naturals.
Seriously, find a different agency to get it quoted properly through underwriting. Its a MY, not a go fast. My 46 is through StateFarm and they know that at 1300HP it's just a cruising boat. A slug in fact by todays standards.

 

[Sadey]

No, I’ve have the twisted up 735HP Covingtons. Good idea to try another broker.

 

[madhatter1]

HA! the 350 HP was a joke. 735's in a boat like that is just a simple cruiser. Need a broker to work with underwriting when underwriting is getting it all wrong. It will work out.

 

[Sadey]

So I reached out to a different broker. Apparently the quoting tool used by the agents, won’t allow them to input anything over 999hp. However, the tool also tells the agent to call underwriting if the horsepower exceeds that for more information. This broker did some more digging and was able to get us a quote. We are currently paying around $9000 for an insured value of $350,000 and I have to be out of the hurricane zone July 1 to November 30. My deductible for that is $7500. For the same coverage amount and not having a hurricane season restriction, including the island chain down to about the midpoint of Long Island in the Exuma’s with a $250 deductible is $4300 for the year.
A number of people on other sites talk about State Farm. Does anybody here have experience either with claims or just longevity with State Farm?

 

[SKYCHENEY]

My experience is not related to boating. I also did not ever insure with them, but was on the other side of several accidents where my property was damaged by someone that was insured by SF. The claims were very difficult to get paid in all of those instances. My insurance company even had to call me to request video footage in an attempt to get SF to reimburse them for what was paid out to me as they were getting pushback. Maybe this is not the norm, its just my experience. YMMV

 

[Sadey]

That’s why I ask. Years ago we had a hail storm roll through and damage everybody’s roofs. The people with State Farm by far had the most problems getting claims paid.