My annual premium from Boat/US Geico just went up by 33%.
Must have been the 2017 hurricanes.
The letter from the underwriter stated:
"Congratulations! Because of your excellent claims record, you're receiving the benefit of our Diminishing Deductible which decreases your hull deductible by 25%.
The increase in your premium is to cover the rising costs of providing insurance protection for your investment".
Who knew?...my boat is an investment. Could've fooled me.
