You can get liability only , but you might have to change company. The insurance brokers don’t want you to reduce what you’re paying now. I have had liability only for over ten years. It only went up last year from $700 to $850 this is with Markel . This tells me that they are being squeezed, and searching for money. Another bad hurricane season and no insurance will be available.
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Thread: 2020 Insurance Renewal
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05-15-2020 09:25 AM #11Senior Member
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Re: 2020 Insurance Renewal
JMooney
61 MY 1983 #341
“Jerrie”
Miami , FL
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05-15-2020 10:46 AM #12Senior Member
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- Apr 2005
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- 2,826
Re: 2020 Insurance Renewal
I'd be thrilled with a $5000 premium on my 1988, 63 MY. Insurance went nutz in FL after Irma in 2017. 2018 was not a bad storm season and my premium went down $1000. 2019 was Dorian, and even though it did not hit the US too hard, the devastation it could have caused spooked the insurance industry.
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05-15-2020 10:59 AM #13Senior Member
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- Apr 2005
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05-15-2020 12:03 PM #14Senior Member
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- Jun 2015
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- 338
Re: 2020 Insurance Renewal
As an insurance broker, one of the driving costs of insurance ecspecially in Florida aside from storms is theft. With an abundance of multi outboard center consoles there has been a rash of motor theft claims which is also driving premiums aside from the storm damage. The fact there are many “absentee” owners also drives rate. I’d be glad to answer any insurance questions anyone may have.
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05-15-2020 12:11 PM #15Senior Member
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- Apr 2005
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Re: 2020 Insurance Renewal
Can you confirm that Florida has only 4 carriers willing to service this market? With so many boats in FL, there must be money to be made despite the risks.
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05-15-2020 01:05 PM #17Senior Member
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05-15-2020 04:33 PM #18Senior Member
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- Jun 2015
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- 338
Re: 2020 Insurance Renewal
There is a very limited number of carriers but more then 4
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Re: 2020 Insurance Renewal
Thanks,
Tony
2008 Cheoy Lee Bravo 78 "Bella Sophia"
1989 78' Hatteras CPMY #311 "Bella Sophia" (sold)
2007 Everglades 290cc “Bada Bing” (sold)
2006 Advanced Outdoors 28cc (sold)
2003 Melges 24 "Bada Bing" (sold)
2023 HCB 42 “Bada Bing”
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05-15-2020 08:57 PM #20