Florida insurance cost breakdown?

[madhatter1]

In 2006 after all the high hurricane activity my insurance was canceled, they weren’t writing Florida anymore. Got quotes of $7K for $35K coverage! Big ole WTF. Someone said self insure, you can afford to fix it up again (the 34) if something happens. So I haven’t had any insurance on the boat for 16 years or so. We protect the boats in storm situations. Wonder how much I saved over the years. The knee jerk 7K quote I’m sure went much lower after a couple years. But at 2K a year at least 32K plus. And that was for near zero coverage.

 

[jmooney]

A friend here in Miami pays over $40,000 for a boat that is valued at 1.5 to 2 million. He sold it last week. I’m sure he could easily afford the cost , but even the wealthy hate to be gouged.

 

[rwaldrop13]

A friend here in Miami pays over $40,000 for a boat that is valued at 1.5 to 2 million. He sold it last week. I’m sure he could easily afford the cost , but even the wealthy hate to be gouged.

I saw same situation with a Marlowe 70' here in Fort Myers. He had "hurricane club" haulout and covered storage up between LaBelle and Lake Okeechobee. His insurance went from $40K full coverage to 3x that post-Ian and he listed the boat for sale.