hammered by boat insurance??

B

barnbuoy

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exMember
Joined
Jan 1, 2000
RO Number
1390
Messages
197
just got a cancellation notice from seahorse-
they will reinsure with exclusions
1.between the months of june and october(i think that was the months)
2.or any time below 35degrees lat.

boat u.s. says 2600 dollars a year to insure for a 25000.00 replacement cost...no exclusions.

10% of the value???

jeezze.

anyone else get hammered?
thinking about telling them to stick it.
boats paid for.
 
I pay just about 1/2 that premium for the same hull value of 25K. My insurance doesn't come due until August so perhaps I'll be in for a shock too. Excluding the months during the hurricane season is absolutely ridiculous!!!! I use State Farm for multiple policies on house, vehicles and boat. I hear Progressive Insurance is underwriting boats-you may want to check them out.
 
yup-

we were paying 900 and change for 5 years then...

it's the same thing that began to happen to the home owners ins..
get a cancellation notice for no apparent
reason,....(get them every year now.)
home owners went from 600.00 for years and years.
now it' 4000.00 and expected to go up another 57 percent next year.
they're pricing me right out of good old FLA.
Texas is becoming more and more appealing.
i personnally know of two families who are moving out of state specifically because of the insurance increases.
for many people on a fixed income, i can't see how 300.00 dollar per month increases can be managed.
my income is kinda flexible...a little easier to make up for it. but there is a principle involved here.
we've been in Florida for 19 years.....same home. i can honestly say that i'm one of those freaks that actually loves it here...weather/bugs/all of it. but it seems they are forcing us out.

I DONT WANNA GO!!!!

i just got some email about a group fighting the auto insurance rate increases which have apparently been slipping up in fla. (faster then anywhere)
without alot of us noticing....

still waiting to hear how charlie crist's campaign promises are going to pan out.

i'll give him a year..then we're outta here.
 
barnbuoy
Wow, I had no idea boat insurance was that bad, no wonder i don't have it. My policy is to drop it once it hit's 2% of hull. 10%, hell, you've bought the boat in less than 7 years. No way.

I also dropped my Sea Tow insurance. I figured I'd need it in the first 3 or 4 years, being new to a larger boat and would do something stupid. I did a lot of stupid things, but didn't need the towing. I figure if I can go 5 years, I'm better off without.

I'm also disgusted with FL insurance, but not quite bad enough to leave. What will force me out is the crowds and traffic.
 
well larry,
i'm not quite either. haven't packed the bags yet...
thinking about trading the house for a piece of land, buying a big arse motorhome and the insurance people can kiss my butt.[}}:-|>>]
 
You guys crack me up. Where did you find these guys.. Do a search for boat insurance and find United Marine they have much better prices and have been around for a lot longer. I have my trinity 2002 covered through them and no other company came close to their price. Gluck. -Gerald
 
Gerald:

They are all from Florida. Insurance down there has gone ballistic in all forms. My brother used to live in Lakeland. Doctors were leaving in droves because of malpractice costs. Most were going to Texas. Those that made the move were saddened only in that they had not done it sooner.

When I called USAA to insure our present boat, the FIRST question I was asked was "you're not boating in Florida are you?".
 
hey gerald,
dont laugh man!
the ONLY home insurance i can get is a citizens.
a state run insurance company. everyone else pulled out.

i did however find insurance for 1350.00 for the boat.

i didnt take it out yet---keep telling the agent i'm still thinking about it!
 
I'm guessing all you guys have a lot bigger boat than mine. I have Progressive, my boat is 24ft insured for $25,000.00 and pay $50.00 a month. My boat is trailered though so that might make a big difference.
 
quote:
Originally posted by jonesy

I'm guessing all you guys have a lot bigger boat than mine. I have Progressive, my boat is 24ft insured for $25,000.00 and pay $50.00 a month. My boat is trailered though so that might make a big difference.

Click to expand...


To make a comparison Jonesy, I have a 24.5 foot insured through USAA for replacement value of a new boat. It is kept in drystack. The cost is $32.67 per month. NORVA, VA to JAX, FL what, roughly 400 miles. An overnight trip on a frigate. The point is natural disasters occur more frequently in FLA than here and the cost has to borne by somebody.
 
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