Originally Posted by Blissboat
Having insurance doesn't prevent us from worrying about and taking care of our boats when the weather threatens. I think actuaries know that, which helps account for why insurers are willing to rate and underwrite boat policies in Florida at all.
They definitely know that for a couple of reasons. People don't want to lose homes or boats. Second, people prefer to avoid the financial loss even of a deductible plus the fact a replacement boat is likely going to cost more. Hurricane plans are just thought processes. Ours list all the things we might or might not do but makes it clear we're not likely to and not obligated to do most of them. We don't commit to doing anything. However, we do what we can to protect our boats. We don't want to lose them. We like them. And the deductible on hurricanes is sizable enough we don't want to spend it.
Really the only ones who go against these assumptions are those boats that aren't being used and have long been on the market for sale. Most of those are still protected well, but the occasional owner might try to take advantage of a hurricane through negligence.