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Old 10-15-2017, 09:00 AM   #21
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We know our boat insurance will increase due to hurricanes and the company's losses.
We also know house insurance will increase for the very same reasons.
I wonder of the two, house and boat, insurance increases by a greater percentage.
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Old 10-15-2017, 10:28 AM   #22
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We know our boat insurance will increase due to hurricanes and the company's losses.
We also know house insurance will increase for the very same reasons.
I wonder of the two, house and boat, insurance increases by a greater percentage.
Insurance is going to increase throughout the country, even in areas unaffected. In most states the insurance commission controls homeowner's rates and can limit the amount of the increases. Same with auto which with hundreds of thousands of lost cars will be hit. However, marine insurance isn't controlled and regulated in the same way. Therefore, I expect it to be hit hard. I think many people will have to switch insurers to keep reasonable prices.

There are some real oddities about what has happened. California has had thousands of homes destroyed completely by wildfires.

Texas is odd in that windstorm is separate from homeowners. Windstorm will definitely increase but the real damage in the state wasn't wind. It was flood. The biggest change will be everyone recognizing the need for flood insurance whether you're officially in a flood area or not. Moody's estimates $150 to $200 billion total cost of the two hurricanes. However, so much was infrastructure, loss of business, loss of tax revenue, and flood. Houston faces huge financial challenges as a city.

In Florida, you have huge home damage in the keys, but as a percentage of homes in the state and the dollar amount of homes it's not as big as it seems. It's very destructive but to a small area. Other parts of the state have their share of damage too but much is flood so not going to impact homeowners. Obviously this will challenge the entire flood insurance program. Unfortunately, many in Florida weren't covered either.

It will be interesting to see the total insurance claims and by type of insurance. I think insurance will cover a very small percentage of the total damage.

I'd project increases on homes and windstorm and flood overall of 20% or so. I'd project some boat insurers refusing to renew, some increasing 100% and then ultimately the ability to reinsure for about 20% more.
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Old 10-15-2017, 11:11 AM   #23
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Then there are those who don't have insurance, thinking they are saving money.
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Old 10-15-2017, 01:44 PM   #24
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Then there are those who don't have insurance, thinking they are saving money.
Well, I did notice a distinct difference in the level of preparations by those without insurance and those with it, during preparations for Hurricane Nate. An informal survey in my area revealed that every single boat lost was insured. I guess people with no insurance have a lot more incentive to prepare better. Many with insurance, didn't even bother to move them out of the marina here.
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Old 10-15-2017, 02:12 PM   #25
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I hope to never be w/o insurance.
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Old 10-15-2017, 03:03 PM   #26
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Well, I did notice a distinct difference in the level of preparations by those without insurance and those with it, during preparations for Hurricane Nate. An informal survey in my area revealed that every single boat lost was insured. I guess people with no insurance have a lot more incentive to prepare better. Many with insurance, didn't even bother to move them out of the marina here.
Did not notice such here. People with insurance did all the right things. Tied up well. Those at good marinas made it through with no issues for the most part. However, there were some here and there in the canals that tore pilings they were tied to out and then ended up with cosmetic damage due to floating into a dock. It's my believe that those who did that had tornado action whether the updrift from the hurricane or actually mini-tornadoes. They were in areas that had quite a few. In these same areas you'd see every house fine on a block except one hit hard.

People here don't move out of the marina if the marina is well prepared, concrete, floating, tall pilings. Now we're protected by barrier islands and don't have the extreme tides or surge.
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Old 10-15-2017, 03:04 PM   #27
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We always tie our boats in hurricane mode so all we really did was double and triple check.
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Old 10-15-2017, 03:48 PM   #28
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Bay Pelican was safe from both Irma and Marie, being 200 miles south of St. Martin. Our emotions however suffered with our friends whose boats were totaled and reached great heights celebrating with those friends whose boats escaped serious damage. In some cases it was the luck of the draw. A boat that was in St. Lucia (safe area) was moved to St. Martin for four months storage was miraculously safe, having been stored next to the wall of a building, while two other boats meters away in St. Martin were destroyed. We know all three owners.

We are thankful that among our fiends, acquaintances, no lives were lost.
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Old 10-16-2017, 07:38 PM   #29
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We boat in the SF Bay and Delta. This weekend we were in the Delta where smoke from the wine country fires brought very unhealty air. Lots of people complaining but only a few wearing masks. I'll take fire in the area any time to earthquakes as it relates to the Delta. The levees are not engineered structures, just piles of dirt, subsiding. A major earthquake on the Hayward Fault is expected to cause certain levees to fail. If one fails and lots of water moves quickly, others could fail--which could be catastrophic through out the CA Delta, an otherwise water wonderland.
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Old 10-16-2017, 08:20 PM   #30
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Good question.


My answer may sound glib, or non empathy. Do not mean it that way. But the number one thing that has impacted our boating is the fact we sold our boat a year ago and don't currently have a boat.


That is changing. Under contract, survey's this week, if everything goes well will close the following week.


That said - starting to plan our initial cruises.


Good friend of ours is headed to Galleon in Key West next week. His thought, the Key's are tourism driven - that it helps to get traffic back.


If closing works, we will be in the Key's over the holidays time period. We love Marathon, Burdines is open, the west basin at Faro has power - we will be there.


We also love the Napa region. Have looked at the photos, it looks like the surface of the moon - or a foreign planet. So sad for the people in the north bay region. As much as we love the area, that really does not impact our boating.


Key's, the coastal regions of FL. That is boating impact.


Talking with a friend of mine tonight who lives in Miami. He drove down to MM 20 this past weekend. Said it was a different place. For so many miles where in the past you did not see water, now you do. He grew up spending time there, his comment was he was in tears as he made the drive.


But the other comment he made was about talking to the people he knew there. The attitude was positive. It was, we will overcome this. Say's something about the resiliency of the people in the Key's.


For us, let us get this boat bought - and we are contributing tourism dollars to the Keys.
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