BoatUS

Audrey II

Audrey II

Active member
Member
Joined
Aug 5, 2008
RO Number
30499
Messages
6,405
I just received the renewal for my policy and it seems to have jumped up several hundred dollars, Has anyone had this happen and why. I haven't had a claim in years there is no reason for the price to have jumped at all no the less so much!
 
They use geico marine which has taken an average increase of 30%. I write a lot of marine insurance and can probably help
 
I have been using GIECO for everything since I have been 16 even motorcycle coverage.
30% is a huge jump I will have to do some homework to figure out what my options are!
 
When I had. Boat US it went up about 10%/year, never a claim. I have had Progressive for many years
 
When they switched to Geico they hammered us. Zero claims. It was the nail in the coffin that said enough was enough and we sold the boat.
 
I haven't had an increase in years. But we are Lake Michigan. No hurricanes. 3 month season.
 
I haven't a claim since Sandy there was no reason for an increase and it was a large increase I will have to call them tomorrow to see want I can work out or else I will have to find another provider. The last time this happened I posted something on their forum and I received a call shortly after and they made a good deal that I was happy with unfortunately they no longer have a forum to comment on.
 
I have Travelers and have put in many claims and never had much of an increase! I put in for a sunken boat, trashed motor and Sandy damage. I probably have gotten more back than I put in...
 
I'm on the phone with progressive and they are quoting me a price less the half the price as BoatUS.
I will try Brit as well I just hate wasting a day on the phone dealing with this.
 
I take that back Progressive is will not insure hull damage for a boat over 20 years old? This is why the rate was so cheap it was liability only.
 
I'm on Lake St. Clair with no claims and mine went up over 30% this year with BOATUS. Didn't have time to look around or talk with them but I'm going to over the winter. For the people who's insurance went up, do you have agreed value? I do and wondering if the increase is due to the boat not being worth the agreed value now that it's 4 or 5 years older.
 
I do have an agreed value and it has been years since it was adjusted but they claim my risk factor went up and this is the reason. I have no idea what would cause my risk factor to go up. Except that 5 years ago my son had a car accident and recently my insurance settled a case and paid out even though the other car hit my son it was clearly stated in the report it was an 80 / 20 fault and yet the guy sued me and they settled. This is the only thing I can come up with that might effect my risk factor but they won't say. Very upset that they paid this guy a penny and now it may cost me for years to come!
 
Waiting on my renewal to arrive any day, been with BoatUS for over 15 years. One of my companies recently began writing boat insurance through a few popular carriers(not Gieco). Reviewing production reports from June, Progressive seems to be competitive. If anyone wants, I’d be happy to review your policy and give you some thoughts/comparative quotes.
 
We used Boat/US for four boats over 32 years, but with the sale to Berkshire Hathaway and the changed depreciation clause for boats over 20 years, I went shopping. I ended up with a Travelers yacht policy. I'm very satisfied with the coverage and the premium. Maintained the agreed hull value with no problem.
 
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