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Old 12-10-2017, 05:27 PM   #13
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City: Fort Lauderdale. Florida, USA
Join Date: Jan 2014
Posts: 21,451
Originally Posted by Edelweiss View Post
Boat US has always been hard on Gulf coast and South East coast boaters. I'm guessing the higher risk due to storm loss is the deciding factor.

I referred friends in Texas to them and I was shocked by the high insurance quote they received. I've been with them for 16 years and rates have been relatively stable here in the PNW. I raised my liability another notch when I renewed in September and it went up only $30.
One thing I saw on the Gulf Coast a couple of years ago was some companies raising rates significantly and the underlying reason was they wanted fewer customers in the area. Insurers don't just look at the exposure in areas but at their exposure. They hope to have coverage balanced across areas so one storm wouldn't impact them disproportionately. It's a bit like resort hotels now with their active changing prices where the fuller they are, the higher the price. In this case the insurer may have a target of x% of their business being in a specific area. If they find it's significantly above that they'll take steps to reduce it. Either it drops or the profits from it increase enough to justify the risk.
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