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Old 12-09-2017, 10:30 AM   #1
seasalt007's Avatar
City: Punta Gorda, FL
Vessel Name: Aweigh
Vessel Model: Nordic Tug 42
Join Date: Jun 2014
Posts: 628
Boat Insurance Increase

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? boat is an investment. Could've fooled me.
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