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Old 11-08-2017, 01:10 PM   #1
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Boat insurance increase

We just got our boat insurance renewal from BoatUS/Geico and it went up $150.00. Seems like a big bite to me, since we have never made a claim.
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Old 11-08-2017, 01:52 PM   #2
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I have a feeling all of us are going to be paying more after this hurricane season.
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Old 11-08-2017, 02:25 PM   #3
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Quote:
Originally Posted by ancora View Post
We just got our boat insurance renewal from BoatUS/Geico and it went up $150.00. Seems like a big bite to me, since we have never made a claim.
Bummer. We're with Geico and ours went down $125 when we renewed on October 2. Who can figure and Hobo's in Florida?

The best part, even with the decrease was our deductible changed (excluding damage from named storms which is 5%).

Geico Marine has added a "Disappearing Deductible" benefit to their yacht policies. For those people with good loss experience, the hull deductible was reduced to $0.
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Old 12-01-2017, 04:39 AM   #4
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I'm curious what others are paying for insurance. I just insured my boat here in Turkey for sailing in the Med and Black Sea and I paid around $580 on a valuation of $110k. The insurance is with a Turkish branch of a major international provider.
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Old 12-01-2017, 04:55 AM   #5
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I am paying $900 per year on a replacement value of $45,000.
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Old 12-01-2017, 06:00 AM   #6
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Mine sounds more than reasonable then but the 3rd party liability limits in the US are probably much higher than ours - mine is €4m = $4.75
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Old 12-01-2017, 06:27 AM   #7
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Sadly it's been cimfirmed my trawler is a CTL (constructive total loss) from hurricane Irma in the Caribbean. I have another trawler in mind and talking to the broker (LLoyds) yesterday he's expecting a increase of 30-40% over the next few months . He's forecasting a calming of rates early next year when the providers can truely assess there loss's.
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