Insurance Provider

[Hawkshaw1]

I am starting to look around for insurance quotes as I read here that many owners are receiving significant premium increases.
I found a company named SkiSafe Insurance. Their quote was about 20% less than what I am paying now on my Mainship 390.

Has anyone heard of this company?

Experience with this company?

Hawk

 

[magna 6882]

I used marine underwriters who shopped the carriers and chubb was the best deal with premium a few hundred less than last year.

 

[Macrophylla]

I used Latitude 34 out of Morehead City, NC great brokers with lots of insight into how to find the policy I needed for the price I wanted to pay.

The quotes they gathered were all over the place, from lowest to highest was over 100% difference in price for nearly identical policies. Ended up going for second lowest because they didn’t require a named storm haul out at my home marina.

 

[Pau Hana]

I am starting to look around for insurance quotes as I read here that many owners are receiving significant premium increases.
I found a company named SkiSafe Insurance. Their quote was about 20% less than what I am paying now on my Mainship 390.

Has anyone heard of this company?

Experience with this company?

Hawk

Ski Safe falls into the category of "caveat emptor" coverage, in that you have to know what coverages you want to ensure you are adequately covered.

This is typical of companies that prioritize a pricing strategy over coverage. A lower price is great as long as the coverage meets the needs of the boater.

Take the Ski Safe quote and policy language and compare to your current policy and see if it's an apples to apples comparison or not. I can assist if you need.

 

[BandB]

Don't shop companies like Ski Safe, shop brokers who can find you the best policies for the price and who will research the policies, then you read every word of them before signing on the dotted line. Price is such a small part of the policy. I'll make you a deal. I'll write you a policy 10% cheaper than any of them. Easy to do. Won't cover any losses you might have, but will look good based on price. No, I'm not licensed so can't personally write it, but sure could find someone to do so. Boat insurance is largely not regulated by states in that there are not the standard things they must have like auto policies, and policies differ considerably.

 

[tiltrider1]

I just got my renewal notice from Red Shield. It went up 3%. I'm assuming my coverage stayed the same( I count on Pau Hanna to let me know if my coverage changes).

3% pretty much sounds like inflation adjustment so pretty normal. I am in the Pacific NW and we haven't experienced nature induced reasons for rate changes.