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Speedboat and offshore raceboat insurance
Short answer
Speed is where many insurers step back. We write fast boats too, but we ask for the top speed.
A speedboat is not a sportsboat with a bigger engine, it is a different risk. With Cigarette, Nor-Tech, Mystic, Outerlimits, Skater, MTI, Otam or Tullio Abbate the top speeds are far beyond what a hull forgives when it lands on a wave. Center consoles with four outboards now belong here too.
That is why our calculator asks for the top speed. Above one hundred kilometres per hour we apply a hazard loading of twenty percent. That is not a refusal but an honest reflection of the losses this class produces: rarely collision, often hull damage from slamming and engine damage from sustained load.
Racing is a separate matter. Offshore races and scored events are not included in standard hull cover and need an express agreement, in some classes also proof of safety equipment and a racing licence. Declare it when taking out the policy, then it is in the contract instead of being examined after the loss.
Questions and answers
What owners of these boats ask
From what speed does the loading apply?
From one hundred kilometres per hour top speed, then twenty percent. The calculator asks for it directly.
Is racing included?
Not automatically. Offshore races and scored events we agree expressly, which includes details of equipment and licence.
What applies with four outboards?
No problem; what matters is total power and top speed. The calculator asks for both.
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