OFF TOPIC BUT NEED HELP ON BOAT INSURANCE

PURPLE FEVER · 09-12-2006, 12:05 PM

Just received my renewal notice from Travelers. As expected, my premium increased by 80%. I can live with that. My problrm is they increased the deductible for windstorm from 2% to 10% of the agreed value. Is this now "standard"? Has anyone recently acquired boat insurance with a lower than 10% windstorm deductible? Please advise. Thanks.

CHRIS · 09-12-2006, 05:23 PM

Have you tried Progressive? They will reduce your deductible 25% per year with each aditional year of no claim. I am happy with them so far and they also have the extended range aption up to 125 miles offshore. That is pleanty for me since I am usually going to the close islands.

Chris

ausum · 09-12-2006, 05:49 PM

Im with a.c.e. and my premium went up 25 percent and my deductable went to 10 percent also...From what I understand,it is almost impossible to get insurance on a larger boat and in a named storm, even with a policy, they will not cover you. I guess they want the owner to take some care also.

Disco Lady · 09-12-2006, 06:03 PM

CONO!!!!!!!!!!! :shock:

dpdash · 09-12-2006, 11:42 PM

Don't know what type of boat you have but I would call Skip Smith at Smith-Merritt Insurance in Pompano. He is very knowledgable and has my business. I also heard he gives 50% premium rebates for each referral. :razz:

CompleteAngler · 09-13-2006, 09:06 AM

we just got a new policy with statefarm. They where cheaper with the same amount of coverage. In both quotes i recieved, the deductable is doubled during named storms. At least they are starting to insure the triple engine boats. The deductable is 3% of the hull coverage. Atlass Insurance was the other company, they had a good price, a couple hundred over state farm.

PURPLE FEVER · 09-13-2006, 10:21 AM

THANK YOU for the replies. I'm exploring all options.

Warrior · 09-13-2006, 10:32 AM

Try State Farm. I have a 31 Contender, their policy covers Nassau thru the Northern Bahamas... Cost was $1260 per year. I still need to meet with them about the deductibles.

PURPLE FEVER · 09-13-2006, 03:21 PM

UPDATE State Farm wont write policies if you live w/i a mile off the coast. It looks like LHP & most of Pompano is out of luck for new policies.

Warrior · 09-13-2006, 03:54 PM

I guess living in the woods has its rewards. My agent didn't even ask me where my house was.

Fishalways · 09-13-2006, 04:52 PM

Kinda interesting. What all of you are paying for ins.

Im with USAA and its only 200.00 yes, 200.00 not thousand per year.

That being said its on a trailer, 21 ft, behind a gate.

Still they never had any restrictions and it has liabitlity.

2ndChance · 09-13-2006, 05:06 PM

http://www.charterlakes.com/

You need to be a SKA member $40/yr.

the best prices I found with my contender

dpdash · 09-13-2006, 05:32 PM

I just asked Charterlakes for a quote and they are not writing new policies in FL.

Sword Hunter · 09-13-2006, 11:54 PM

what about charter inshurance carring passengers for hire up to 100 Mi 26-31ft

BrassyHooker · 09-14-2006, 12:00 AM

Quote:

Originally Posted by Fishalways

Kinda interesting. What all of you are paying for ins.

Im with USAA and its only 200.00 yes, 200.00 not thousand per year.

That being said its on a trailer, 21 ft, behind a gate.

Still they never had any restrictions and it has liabitlity.

USAA Caps off at 50,000 then they farm you to progressive who caps out at 100000..

PURPLE FEVER · 09-15-2006, 11:42 AM

From all the research I've done it looks like I have to stick with what I,ve got with Travelers. Charter Lakes same price but I would be required to put the boat on a trailer[ Which I dont own or a vehicle big enough to pull a 34ft. boat with triples] and take the boat out of the flood zone whereever that is! Boat US quoted a rate 300% higher than my new rate which is 80% higher than last year. The insurance companies have us by the balls and keep squeezing! At some point it is going to be completely prohibitive to own a boat in S. FLA.

Thanks for the help.

Skip Smith · 09-18-2006, 09:38 AM

Very funny Ddash. We do not pay anything for referrals.

The boat insurance market is terrible for South Florida. Nobody wants to write anything under $1,000,000 in the 4 lower counties, and then you need a full-time Captain.

With smaller vessels you should always check with your auto and homeowners first. If they can not provide you with coverage then you should call an agency that writes only boats.

We are hoping that with no storms this season, that the companies will open up a little.

We in the same boat............................

floridascuba · 09-18-2006, 10:03 AM

Quote:

Originally Posted by Fishalways

Kinda interesting. What all of you are paying for ins.

Im with USAA and its only 200.00 yes, 200.00 not thousand per year.

That being said its on a trailer, 21 ft, behind a gate.

Still they never had any restrictions and it has liabitlity.

USAA no longer does boat insurance. They use Progressive. I had them on my old boat. And wanted to put the policy on the new boat.

09-12-2006, 12:05 PM	#1 (permalink)
PURPLE FEVER Hooked Up Join Date: Jan 2005 Location: pompano beach,fla. Posts: 439	OFF TOPIC BUT NEED HELP ON BOAT INSURANCE Just received my renewal notice from Travelers. As expected, my premium increased by 80%. I can live with that. My problrm is they increased the deductible for windstorm from 2% to 10% of the agreed value. Is this now "standard"? Has anyone recently acquired boat insurance with a lower than 10% windstorm deductible? Please advise. Thanks.

09-12-2006, 05:49 PM	#3 (permalink)
ausum Hooked Up Join Date: Aug 2005 Location: Islamorada,fl Boat: Custom 50 ft. express with tower Best Catch: 550 lb blue marlin-800 bluefin-68 dolphin- Occupation: Inactive in business Posts: 102	insurance Im with a.c.e. and my premium went up 25 percent and my deductable went to 10 percent also...From what I understand,it is almost impossible to get insurance on a larger boat and in a named storm, even with a policy, they will not cover you. I guess they want the owner to take some care also.

09-13-2006, 09:06 AM	#6 (permalink)
CompleteAngler Lines In Join Date: Aug 2005 Posts: 21	we just got a new policy with statefarm. They where cheaper with the same amount of coverage. In both quotes i recieved, the deductable is doubled during named storms. At least they are starting to insure the triple engine boats. The deductable is 3% of the hull coverage. Atlass Insurance was the other company, they had a good price, a couple hundred over state farm. __________________ Nelson, Complete Angler Fishing Supplies, Inc. 6827 S.W. 40 Street Miami, Fl 33155 305-665-2771 www.completeanglerfishing.com

09-13-2006, 05:06 PM	#12 (permalink)
2ndChance Lines In Join Date: May 2004 Location: Pembroke Pines Occupation: Realtor & Mortgage Broker Posts: 85	http://www.charterlakes.com/ You need to be a SKA member $40/yr. the best prices I found with my contender __________________ 2ND Chance Charters Captain Tony Azeem Sponsored by: Captian Mark's Chum & Sword Slasher Products.

09-13-2006, 11:54 PM	#14 (permalink)
Sword Hunter Hooked Up Join Date: Dec 2005 Location: Boca Raton Posts: 196	question what about charter inshurance carring passengers for hire up to 100 Mi 26-31ft

09-12-2006, 05:23 PM	#2 (permalink)
CHRIS Lines In Join Date: Jan 2005 Location: Miami Posts: 66	Have you tried Progressive? They will reduce your deductible 25% per year with each aditional year of no claim. I am happy with them so far and they also have the extended range aption up to 125 miles offshore. That is pleanty for me since I am usually going to the close islands. Chris

09-12-2006, 06:03 PM	#4 (permalink)
Disco Lady Grander Join Date: Dec 2005 Location: Miami. FL, Boat: 37 Merritt Best Catch: (Blue Marlin)550 Lbs ST. Thomas Occupation: Charter Captain Sometimes... Posts: 3,530	CONO!!!!!!!!!!! :shock:

09-12-2006, 11:42 PM	#5 (permalink)
dpdash Hooked Up Join Date: May 2004 Location: Fort Lauderdale Posts: 156	Don't know what type of boat you have but I would call Skip Smith at Smith-Merritt Insurance in Pompano. He is very knowledgable and has my business. I also heard he gives 50% premium rebates for each referral. :razz:

09-13-2006, 10:21 AM	#7 (permalink)
PURPLE FEVER Hooked Up Join Date: Jan 2005 Location: pompano beach,fla. Posts: 439	THANK YOU for the replies. I'm exploring all options.

09-13-2006, 10:32 AM	#8 (permalink)
Warrior Hooked Up Join Date: Sep 2005 Location: Ft.Pierce Boat: 60 Ocean SS/31 Contender Best Catch: 369# core Giant Bluefin Posts: 308	Try State Farm. I have a 31 Contender, their policy covers Nassau thru the Northern Bahamas... Cost was $1260 per year. I still need to meet with them about the deductibles.

09-13-2006, 03:21 PM	#9 (permalink)
PURPLE FEVER Hooked Up Join Date: Jan 2005 Location: pompano beach,fla. Posts: 439	UPDATE State Farm wont write policies if you live w/i a mile off the coast. It looks like LHP & most of Pompano is out of luck for new policies.

09-13-2006, 03:54 PM	#10 (permalink)
Warrior Hooked Up Join Date: Sep 2005 Location: Ft.Pierce Boat: 60 Ocean SS/31 Contender Best Catch: 369# core Giant Bluefin Posts: 308	I guess living in the woods has its rewards. My agent didn't even ask me where my house was.

09-13-2006, 04:52 PM	#11 (permalink)
Fishalways Hooked Up Join Date: Sep 2006 Boat: 206 Kencraft Best Catch: 450# Blue Marlin, Walkers Cay Posts: 632	Kinda interesting. What all of you are paying for ins. Im with USAA and its only 200.00 yes, 200.00 not thousand per year. That being said its on a trailer, 21 ft, behind a gate. Still they never had any restrictions and it has liabitlity.

09-13-2006, 05:32 PM	#13 (permalink)
dpdash Hooked Up Join Date: May 2004 Location: Fort Lauderdale Posts: 156	I just asked Charterlakes for a quote and they are not writing new policies in FL.

09-15-2006, 11:42 AM	#16 (permalink)
PURPLE FEVER Hooked Up Join Date: Jan 2005 Location: pompano beach,fla. Posts: 439	From all the research I've done it looks like I have to stick with what I,ve got with Travelers. Charter Lakes same price but I would be required to put the boat on a trailer[ Which I dont own or a vehicle big enough to pull a 34ft. boat with triples] and take the boat out of the flood zone whereever that is! Boat US quoted a rate 300% higher than my new rate which is 80% higher than last year. The insurance companies have us by the balls and keep squeezing! At some point it is going to be completely prohibitive to own a boat in S. FLA. Thanks for the help.

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09-18-2006, 09:38 AM	#17 (permalink)
Skip Smith Hooked Up Join Date: Sep 2006 Location: Pompano bch, Fl Posts: 101	Very funny Ddash. We do not pay anything for referrals. The boat insurance market is terrible for South Florida. Nobody wants to write anything under $1,000,000 in the 4 lower counties, and then you need a full-time Captain. With smaller vessels you should always check with your auto and homeowners first. If they can not provide you with coverage then you should call an agency that writes only boats. We are hoping that with no storms this season, that the companies will open up a little. We in the same boat............................

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