Been with Geico since 2017
Started at $2200 for 250k boat value boat 13 years old
Last year $4500
Got renewal yesterday $9300
Called an they said increase across the board
Anyone else?
Will not be staying with these crooks
Speaking of insurance… what liability limit would you recommend in order to satisfy most marina/yard requirements one might find in the US, Canada and Bahamas?
$300,000? $500,000? More?
Thanks!
Bizarre
America being such a sue happy country I would have thought you'd need far more.
In Oz, $10,000,000 is the minimum requirement
We had Boat/US, Geico, for over 40 years but dropped them last year because they got crazy. Try Peter Ricks at Novamar. He got us much better coverage and the price was very reasonable. He is a member here. 206-350-5051. No affiliation other than being a satisfied customer.
I am in a different "boat" LOL! Trying to get insurance in FL as an absentee owner on a boat I am under contract with. Holy crap I had no idea it was gonna be this big of a pain in the butt!
The only quote I have gotten so far requires me to move the boat 100 miles from the cone of any named storm or they don't pay... ummm so you mean there is no hurricane coverage then right? Because if I am 100 miles form the cone there is no way my boat will be damaged lol! What a bunch of malarky
I am in a different "boat" LOL! Trying to get insurance in FL as an absentee owner on a boat I am under contract with. Holy crap I had no idea it was gonna be this big of a pain in the butt!
The only quote I have gotten so far requires me to move the boat 100 miles from the cone of any named storm or they don't pay... ummm so you mean there is no hurricane coverage then right? Because if I am 100 miles form the cone there is no way my boat will be damaged lol! What a bunch of malarky
I am in a different "boat" LOL! Trying to get insurance in FL as an absentee owner on a boat I am under contract with. Holy crap I had no idea it was gonna be this big of a pain in the butt!
The only quote I have gotten so far requires me to move the boat 100 miles from the cone of any named storm or they don't pay... ummm so you mean there is no hurricane coverage then right? Because if I am 100 miles form the cone there is no way my boat will be damaged lol! What a bunch of malarky
I think there's another way (the insurance company side) to look at this. If you look at hurricane Ian and the thousands of boats lost in SW Fl, there will likely be a percentage of owners who think, " it's insured, not my problem if the hurricane takes it away." While there are owners that make a great effort to keep their boat safe and have a viable hurricane plan, there are probably more owners who tell the insurance company they have a plan, but don't follow through with it.
After hurricane Ian and the loss of all those boats, I find it hard to understand how an insurance company doesn't have a 33% deductible for named storm loss or claims in the prime hurricane zone.
I see a time coming when insurance companies will have large deductibles for named storm claims of movable assets (unlike a house). The idea that you choose to evacuate but not take your car and the insurance has to pay for it, seems ridiculous to me.
For the record, I'm a Fort Myers resident and my boat is based in Fort Myers. My insurance policy has me North of Savannah, GA between June 1st and November 1st. My insurance is very reasonable as I take a proactive approach of keeping it away from named storms.
Ted
See post #3. There may be no alternative but if anyone can help you Peter can and will.
Been with Geico since 2017
Started at $2200 for 250k boat value boat 13 years old
Last year $4500
Got renewal yesterday $9300
Called an they said increase across the board
Anyone else?
Will not be staying with these crooks
I can confirm $10M Liability is the norm in Australia. How in litigious USA could.5M be adequate.Yikes! That would cost more than the boat!
I am in a different "boat" LOL! Trying to get insurance in FL as an absentee owner on a boat I am under contract with. Holy crap I had no idea it was gonna be this big of a pain in the butt!
The only quote I have gotten so far requires me to move the boat 100 miles from the cone of any named storm or they don't pay... ummm so you mean there is no hurricane coverage then right? Because if I am 100 miles form the cone there is no way my boat will be damaged lol! What a bunch of malarky
And that's not so safe anymore, the last big storm hit September 15, two weeks after the season was "over".