FL insurance question

[finatic]

My insurance company tells me they won't insure a boat south of the FL/GA line from June 1 to Nov.1 ! What do most people with boats in FL do about insurance? I sure every boat in FL doesn't move up the coast every summer.

 

[JuiceClark]

My insurance company tells me they won't insure a boat south of the FL/GA line from June 1 to Nov.1 ! What do most people with boats in FL do about insurance? I sure every boat in FL doesn't move up the coast every summer.

You replace that firm with a better one.

I still am paying a huge premium with Boat US. My survey will be done in January - and then I shall switch to a cheaper policy.
If you use the search function, you can find a lot of insurance related threads. I have a few companies I plan to call for quotes when the time comes.

Summer is the only time to boat in FL. It's too cold this time of year!

 

[Captain Ralph]

You replace that firm with a better one.

Yep...

 

[Thelog]

I’m pretty sure we pay a much higher premium down here though. I just renewed the policy this month after doing the required in/out survey every third year, and my premium came in just shy of 5K.

 

[importmonkey]

Who do you use?These days they seem to be extremely picky and VERY expensive. Anything over 10 years old, over 64 feet, and especially*down here in Florida gets you a $10k+ premium and a 1/3 coverage during named storms. WTF?Anyone have any ideas or solutions?Edit * And I mean the ONLY provider! No one will insure anymore and those who will give you very little.We*have*gotten*NOs from:*Travelers,*Geico,*State*Farm,Progressive, NBOA, Boat US, Charter Lakes, et cetera. There's only been 1 (Concepts) that have said yes, and they have a ridiculous deductible. We are talking 15%/30% for normal/named storms.They have reviewed our history for ownership and operation and that's not the problem. Seems the industry is going through a restructuring of sorts lately.

 

[captcrunch]

There’s only 3-4 markets that are potentially writing larger older boats in the south east and most are requiring a haul plan for named storms these days. Concept minimum deductible is 10% these days, kemah and American modern will write some of them.

 

[Bob Quinn]

I’m pretty sure we pay a much higher premium down here though. I just renewed the policy this month after doing the required in/out survey every third year, and my premium came in just shy of 5K.

We just got a 53 and for the Great Lakes area I was quoted up to I think $2800 a year, and some places didn't want to insure me because of lack of experience.

Finally called State Farm and got 80k coverage for $900 a year. 150k was only a couple or 400 hundred more. It really pays to shop around...... a lot!

Some wouldn't quote me due to age of boat (1980), Some didn't like my lack of experience, and I know some won't quote southern "hurricane" zone areas.

State farm barely asked any questions and issued a policy, they did require a recent survey though.

One local guy had an o.k. price but then said "we can only give you that price if you insure your house and cars with us." Pfffff whatever!

 

[SEVEN]

We ended up with Chub. 180,000 coverage with 9,000 deductible for 1,800.00. That’s still 600 more than last year and a much higher deductible.

 

[jim rosenthal]

Seems like the maritime insurance market badly needs a mutual insurance company, which is actually dedicated to insuring its members. I have stuck with BoatUS but each year I pay more and seem to get less coverage, or a higher deductible. The chiseling never stops.