Insurance in Fla

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

Any suggestions who to call?

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

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.

Wdeertz said:

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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Why be wary? Please explain.

catalinajack said:

Why be wary? Please explain.

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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.

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.

Wdeertz said:

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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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.

Geico is only cutting out brokers, they still insure direct in Florida. I am insured directly with Geico in FL.

lipets said:

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

Any suggestions who to call?

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Call your broker.

psneeld said:

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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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?

lipets said:

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

Any suggestions who to call?

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You can always go direct to them, or via BoatUS?

Wdeertz said:

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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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.