Insurance renewal... ouch

[kirley]

Joreyn, good words!

[JIMBO44]

This discussion has been one of the most informative and valuable of the many great one of AOG. Especially great is the fact that the contributors knew what they were talking about and the info was objective and helpful to many.

Thank you

Jimbo44
28TE
Matter of Time
Engine Box

[JFOkie]

I feel like a dope. When I received my Boat US renewal, I thought that it seemed high but paid it. After reading these posts, I looked at my policy from 2012 and I had an 18% increase for this year. There wasn't any notice in the letter saying that there was an increase or why the increase. I understand that they've taken a beating over the past few years with all of the storms, but I have never had a claim and was caught completely off guard. Perhaps it's time to look around and compare rates.

Regards,
John
"Nirvana"

[Nancy]

John, our BOAT/US renewal came with a cover letter explaining the increase. Seems odd that you didn't receive that. But don't be too quick to kick yourself. I shopped the rate, and BOAT/US was still the lowest. I think a lot depends on the location of the boat.

[johngp@cox.net]

My renewal went up considerably too, however I was able to decrease the cost by increasing the deductable. I could have also saved some money by decreasing the agreed upon value.


John Powell
Ariadne 27' AC
Chester Ct

[Chester B]

You may want to get a broker to check out Seaworthy Ins (a Warren Buffett company) they were far lower than Boat US and we saw no increase this year. And this is for a 34 DC year-round in FL; hard to find a company that will even do that.

[Pitou]

You may want to get a broker to check out Seaworthy Ins (a Warren Buffett company) they were far lower than Boat US and we saw no increase this year. And this is for a 34 DC year-round in FL; hard to find a company that will even do that.

CB - Thanks for bringing up Seaworthy. Funny that you mention Seaworthy as I had never heard of them until yesterday when a marine insurance buddy who has been visiting for the past week mentioned them. He's meeting with them in the upcoming future for a meet & greet dog & pony show before most likely taking them on as a direct writer. He felt that they'll be giving Travelers a run for their money. Though Travelers has been great to me, I'm standing by to do a little shopping.

[slimjim]

I got my Ins from Boat US and guess what? The ins binder is Seaworthy! When I call they answer the phone Geico/SEAWORTHY??

[Yearwood]

Boat/US is a broker not an insurer.

[JFOkie]

Nancy,

I guess I spoke too soon; I did get an explanation for the increase, I found it in my insurance folder. When I spoke to Boat US about the increase, we looked at the policy and I increased my deductable by a little bit; didn't want to go crazy as I don't think that it's too cost effective. Will look into Seaworthy as a possible option for next year.

John
"Nirvana"