NewbieFromNJ
Senior Member
Does anyone know the hurricane boundary on the east coast meaning at what point north would insurance companies consider your slip location outside of the hurricane zone and thus lower premiums. Is there a sliding scale?
Hurricane boundary
- Thread starter NewbieFromNJ
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High Wire
Guru
Because every policy is different, it's the only way to be sure.
Gordon J
Guru
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I have found there are variations between companies. Just got a quote from Geico who said no boundaries at anytime of year and that the company would pay half the hauling costs for hurricanes. I asked about a discount should I keep the boat in the Chesapeake or higher during hurricane season. Answer: the company expects that owners will be prudent and take appropriate action to protect their property, either hauling or getting the boat to a safe place and securing appropriately.
Our current policy with ACE requires us to stay in the chesapeake or higher, until 1 Nov. That is cheaper than Geico's policy by $600.
New Hampshire, under which we insured our sailboat in 2014, required us to stay above the St. Mary's river until 1 Nov. Its policy was about the same price as ACE's, for a higher priced boat.
Bottom line, each company has its own policy and It appears that the further south you expect to be in hurricane season, the more you will pay.
Gordon
Our current policy with ACE requires us to stay in the chesapeake or higher, until 1 Nov. That is cheaper than Geico's policy by $600.
New Hampshire, under which we insured our sailboat in 2014, required us to stay above the St. Mary's river until 1 Nov. Its policy was about the same price as ACE's, for a higher priced boat.
Bottom line, each company has its own policy and It appears that the further south you expect to be in hurricane season, the more you will pay.
Gordon
psneeld
Guru
Most policies have navigation boundaries and draw the line at their whim where you have to be north of by a certain date.
My current policy is the FL/GA line. My last liveaboard was Morehead City, NC.
Even the dates may be different from the official hurricane season....but are close and generally you need to be at least out of FL from just listening to others.
My current policy is the FL/GA line. My last liveaboard was Morehead City, NC.
Even the dates may be different from the official hurricane season....but are close and generally you need to be at least out of FL from just listening to others.
OP
OP
NewbieFromNJ
Senior Member
The reason I am asking is that I'm still 2 years out in my purchase of a trawler. I live in central NJ and will be selling my home with a significant downsize and using the proceeds to buy a used trawler and modest home preferably with its own bulkhead. I notice some members have a slip in Florida used during non hurricane season and one up north used during hurricane season. So part of my due diligence is to see how far south I should move to to avoid the hurricane surcharges. Thanks for the replies so far.
Do you also notice that there are more boats in Florida than any other state and that the vast majority of those are in Florida during the hurricane season?
There is no absolute or consistent method of charges. We don't have a surcharge, but then we never got a policy quoted otherwise. We live in Fort Lauderdale, the boats are there, we're not moving them for half the year. It is what it is. Our area has been as long without a hurricane as any area on the East Coast.
I think you should decide where you want to live and then look into finding affordable insurance based on that.
Gabe n Em
Guru
Ours used to say something like "chesapeake or north during hurricane season" but when we wanted to head south (we're in georgia now) they said, "no problem, no additional charges, just let me change some wording" and now we have a clause that says "north of cumberland island (essentially ga/fl border) during hurricane season".
we have a flavor of ace insurance
we have a flavor of ace insurance
I wonder how many with such clauses moved their boats out of South Florida and north for Matthew. I do know of one who cut their trip to Fort Lauderdale short and ran a straight day and night run home to Hilton Head.
psneeld
Guru
If common sense applied in the insurance business.....lots of things might be different.
Risk can be calculated many different ways...thus the differences in different companies.
They charge me more for being a liveaboard where all my worldly possessions lie....and less for the guy who only sees his boat once a year, has no idea if his lines are almost worn through and does nothing when the occasional hurricane threatens.
Till he is proven an idiot....I pay more despite my background and nvolvement with my boat.
Risk can be calculated many different ways...thus the differences in different companies.
They charge me more for being a liveaboard where all my worldly possessions lie....and less for the guy who only sees his boat once a year, has no idea if his lines are almost worn through and does nothing when the occasional hurricane threatens.
Till he is proven an idiot....I pay more despite my background and nvolvement with my boat.
Unless you are planning on giving up a house completely and living full time on your new boat, you should also consider the risk of flooding when selecting where to live. FEMA flood insurance policies can now be very expensive. Before we sold our Massachusetts waterfront home, we heard ridiculous quotes of $40-50K per $250K of coverage!!! While I understand there has been something of a moratorium in the North East (and there have not been any major East Coast storms/floods for a few years) I fully expect the FEMA rates to eventually go up substantially. Consequently our new home is 60ft above the flood plain!! While we did consider canal front real estate in Ft. Lauderdale at one time, it seems to me now that much of the Ft. Lauderdale properties must be in the flood plain??
Actually much of the area has been removed from the flood plain and reclassified. As a result, my flood insurance has dropped very significantly in cost. They were classifying any home on the water as a high flood risk. Now, it's based on 100 year flood history and although my home is on a canal, just off the ICW, facing the ICW, no floods have ever reached the levels of our homes here. I don't have all the details and specifics handy. Just suffice it to say the reclassification was logical, supported by history, and of great benefit to us.
You are one lucky man!!!
Our home was originally rated as moderate risk with a premium of $2.5K for $250K coverage. The rating was changed to velocity zone (high risk) about 3 years ago.
The last storm damage/flood was 27 years ago (Hurricane Bob). Neighbors trying to sell were getting quotes of $40-50K for the same coverage that was being required by mortgage lenders. Fortunately, some local towns in the same county (Plymouth, MA) challenged the maps used by FEMA and dragged out map revisions until just recently, when FEMA said "no more". It is my understanding that apart from delays initiated by Congress there was also a moratorium on rate increases specific to Plymouth County. Now that moratorium has ended or is about to end. So, at some time, I fully expect rates to increase significantly with little to no grandfathering.
Our home was in a protected small bay just off of Cape Cod Canal but FEMA rated it high risk with probability of significant wave damage. So, advice remains the same, before buying near the ocean or any water, best to check whether the property is in the flood plain and if so how it is rated. Boats float, houses do not!!!
Our home was originally rated as moderate risk with a premium of $2.5K for $250K coverage. The rating was changed to velocity zone (high risk) about 3 years ago.
The last storm damage/flood was 27 years ago (Hurricane Bob). Neighbors trying to sell were getting quotes of $40-50K for the same coverage that was being required by mortgage lenders. Fortunately, some local towns in the same county (Plymouth, MA) challenged the maps used by FEMA and dragged out map revisions until just recently, when FEMA said "no more". It is my understanding that apart from delays initiated by Congress there was also a moratorium on rate increases specific to Plymouth County. Now that moratorium has ended or is about to end. So, at some time, I fully expect rates to increase significantly with little to no grandfathering.
Our home was in a protected small bay just off of Cape Cod Canal but FEMA rated it high risk with probability of significant wave damage. So, advice remains the same, before buying near the ocean or any water, best to check whether the property is in the flood plain and if so how it is rated. Boats float, houses do not!!!
High Wire
Guru
I guess I kind of fit that description. My boat is stored on the hard in FL from May to Nov 15th. That's when I'm there. Never really checked on anything else.
Is it on the hard because you're not there to use it or because of some hurricane whispers or statements by agents?
And Hilton Head got hit hard by Matthew. Lots and lots of damage.
One never knows where a hurricane might hit. Annapolis, MD got hit hard by one a few years back.
Yes, they and their insurer very much regretted that decision.
RT Firefly
Enigma
Greetings,
All good information so far. Our previous insurer designated Morehead City NC as the southern extent of our coverage during hurricane season without a special extra $$ rider.
I say previous insurer because after Sandy they changed the regulations in that the boat had to be stored ashore during a named storm or there would be no coverage. We were docked in a marina, at the time of the policy change, that was considered a hurricane hole. Statistically (100 years of data) there was a .01% chance of a cat 5 hitting the area. The closest place to haul was on the Outer Banks of NC. Statistically, an area that regularly got hammered by almost any named storm that ran up the coast. Trying to explain the dangers and lack of rationale of leaving a safe harbor and putting our boat in harm's way was completely lost on the agent(s). See ya...
Anecdotal, to be sure, but some folks just don't have a clue.
All good information so far. Our previous insurer designated Morehead City NC as the southern extent of our coverage during hurricane season without a special extra $$ rider.
I say previous insurer because after Sandy they changed the regulations in that the boat had to be stored ashore during a named storm or there would be no coverage. We were docked in a marina, at the time of the policy change, that was considered a hurricane hole. Statistically (100 years of data) there was a .01% chance of a cat 5 hitting the area. The closest place to haul was on the Outer Banks of NC. Statistically, an area that regularly got hammered by almost any named storm that ran up the coast. Trying to explain the dangers and lack of rationale of leaving a safe harbor and putting our boat in harm's way was completely lost on the agent(s). See ya...
Anecdotal, to be sure, but some folks just don't have a clue.
High Wire
Guru
Yes and yes.
I live in NJ May thru Oct for the foreseeable future. Ins co says I must have a hurricane plan to move boat to safety OR store in a slip behind house that I own. Since I have neither, the other option that does work for me is to pull boat for hurricane season. I think it would be irresponsible to leave an empty boat in the water for 6 months of summer in Florida. Too risky for me even if it was NJ.
There are many choices of insurance companies and many different sets of requirements. If you don't like what one tells you, shop around for a company that best meets your requirements.
