Florida insurance cost breakdown?

[Bob Quinn]

I know insurance in Florida is through the roof.

Question: Is it the full coverage part of it or the liability part of it that is so expensive or both?

I am assuming marinas are only worried about having liability coverage?

Thanks!

[madhatter1]

All I can tell you is that more and more marinas require insurance to stay, even for 1 day. We keep a copy on the boat.

[Briankinley2004]

Sometimes liability only is not alot less. Hull value desired and deductibles play a large role in premiums. It also pays to shop around. Im paying $1900/year for 60K hull value and 3000 deductible on my 46C. I just looked at my quote and it was 2100 for a 2K deductible. This is full coverage and State Farm never asked about a hurricane plan or any of the usual stuff. This was purchased after the hurricane last year but probably before all of the payouts. Hopefully it won't go up much

[Bob Quinn]

Sounds like I just need to call my insurance guy!

Edit: I called my State Farm here in Michigan, and they said it would have to be insured by a Florida based agent.
Didn't know that. I will try to find one.

[jmooney]

I have only liability insurance. For years it was $740 per year. The last full quote was for $8500 fifteen years ago .Two years ago in went to $1250 . This year it’s $1400 . A friend here in Miami says he is paying $350 . I use Markel through USAA . I would shop around , but I have to have all my insurance through USAA in order to have an umbrella policy.

[Bob Quinn]

All I can tell you is that more and more marinas require insurance to stay, even for 1 day. We keep a copy on the boat.

Good idea! I wouldn't have thought about doing that.

[Bob Quinn]

I have only liability insurance. For years it was $740 per year. The last full quote was for $8500 fifteen years ago .Two years ago in went to $1250 . This year it’s $1400 . A friend here in Miami says he is paying $350 . I use Markel through USAA . I would shop around , but I have to have all my insurance through USAA in order to have an umbrella policy.

That is what I was thinking is that I could switch to liability only. I have no desire to throw away 10k a year on insurance LOL.

Any chance you know who your friend goes through at $350 a year?

[Bob Quinn]

Sometimes liability only is not alot less. Hull value desired and deductibles play a large role in premiums. It also pays to shop around. Im paying $1900/year for 60K hull value and 3000 deductible on my 46C. I just looked at my quote and it was 2100 for a 2K deductible. This is full coverage and State Farm never asked about a hurricane plan or any of the usual stuff. This was purchased after the hurricane last year but probably before all of the payouts. Hopefully it won't go up much

Is this a Florida based State Farm person? If so, any chance you could share the number?
I use State Farm up here in Michigan and they seemed to have the best rates, but said I would have to insure in Florida if I go down there.

[jmooney]

That is what I was thinking is that I could switch to liability only. I have no desire to throw away 10k a year on insurance LOL.

Any chance you know who your friend goes through at $350 a year?

Bob, will check with him when I see him again.

[Briankinley2004]

Mine is through Ryan Lampanosa in Crystal River, FL 352-795-4747. Laynee Nadal is my rep. The biggest issue I had is they didn't ask for a survey but after they got the premium their underwriters told the agent I had 10 working days to get one.

I also use the company below alot. They told me upfront I would need a current survey (less than 5 yr old) to get a policy. The only reason I didn't go with them was State Farm already had the boat insured by prior owner and didn't ask for one with the quote. Lesson learned

http://marineins.com/