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Old 06-30-2021, 12:10 PM   #1
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Question Insurance in Fla

Gieco just sent cancellation they R no longer going thru brokers.

Any suggestions who to call?
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Old 06-30-2021, 12:39 PM   #2
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My broker sent me notification, their plan was to switch to a new company who already accepted most of the old Geico/BoatUS policies at this year's prices.

For service on Policy email: service@insuretheboat.com
Kenneth A Marks-Yacht Insurance Specialist
Marks Insurance Group-Marks Marine Insurance Est. 1990
Sponsor and Speaker America's Great Loop Cruisers Assoc.
856-384-8744; 1-888-4marks1
fax 856-344-4049
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Old 07-08-2021, 09:58 AM   #3
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I’m caught up in this non renewable situation and initial quotes are coming back at a 100+% increase so be wary of the email you received from Marks Marine.
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Old 07-08-2021, 11:28 AM   #4
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Quote:
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I’m caught up in this non renewable situation and initial quotes are coming back at a 100+% increase so be wary of the email you received from Marks Marine.
Why be wary? Please explain.
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Old 07-08-2021, 11:33 AM   #5
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Why be wary? Please explain.
Their email message makes it appear they have identified an insurer to move all their policies at existing premium levels but that may not be the case.
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Old 07-08-2021, 11:33 AM   #6
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FWIW, I just bought an old (1980) boat and got what seems like decent coverage with these guys:
Boat Insurance Quotes - United Marine Underwriters.

In FL year round, lives in the water.
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Old 07-08-2021, 12:49 PM   #7
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Their email message makes it appear they have identified an insurer to move all their policies at existing premium levels but that may not be the case.
Mine said they would have alternatives if that insurer wasn't satisfactory.

Any time you switch companies a big increase could be possible depending on your boat/risks.
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Old 07-08-2021, 01:25 PM   #8
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Geico is only cutting out brokers, they still insure direct in Florida. I am insured directly with Geico in FL.
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Old 07-08-2021, 02:42 PM   #9
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Originally Posted by lipets View Post
Gieco just sent cancellation they R no longer going thru brokers.

Any suggestions who to call?
Call your broker.
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Old 07-08-2021, 03:16 PM   #10
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Mine said they would have alternatives if that insurer wasn't satisfactory.

Any time you switch companies a big increase could be possible depending on your boat/risks.
Always alternatives available but at what costs? With increased storms an increase is expected but when it’s over 100% does this imply Geico mispriced the risk or the others are gouging the market?
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Old 07-08-2021, 04:23 PM   #11
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Gieco just sent cancellation they R no longer going thru brokers.

Any suggestions who to call?


You can always go direct to them, or via BoatUS?
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Old 07-08-2021, 04:38 PM   #12
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Always alternatives available but at what costs? With increased storms an increase is expected but when it’s over 100% does this imply Geico mispriced the risk or the others are gouging the market?
It is fairly random from what I can tell.

Boaters within one company have had major differences in premiums depending on the new revised risk assessment.
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