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miamioffshore

02-06-2006 03:16 PM

Insurance problems!

Has anyone been able to get a new marine insurance policy in Miami-Dade County this year? I just called Sy Goldberg and "Bob or Gregg" who were also recommended by people on this site. Both said "No new policies in Dade County"?!?! Due to the 2 hurricanes for last year? I'm about to buy a boat, but will obviously need insurance first. Help?!!?

GoCiggie31

02-06-2006 03:24 PM

Re: Insurance problems!

sorry to hear-that sucks.
Have you tried Jack Martin in Annapolis, Md 410-626-1000?
Good luck

CAP071

02-06-2006 04:29 PM

Re: Insurance problems!

Problem was TOO MANY people if not everyone just left their boats there hoping it would be totaled I bet :mad:

I wonder how high Ins is going to be this season for us boaters with boats :rolleyes:

My buddy's grandpop lives down there said everyone he knows on his canal lost their boats every single 1 :eek:

sy goldberg

02-06-2006 04:57 PM

Re: Insurance problems!

I can write high performance policies in DADE county but windstorm coverage is excluded and the rates are out of this world.I am working on a program and will know more after a meeting at the MIAMI boat show.I won't make any promises as I have been down this road before.

Rocky

02-06-2006 04:58 PM

Re: Insurance problems!

Insurance in Southeast Florida is a problem and will remain an issue for quite some time. Most carriers feel they have too much exposure for the area and are not writing new policies, in fact they will be non-renewing existing policies.
For those that can find coverage expect higher deductibles (especially for windstorm) and higher premiums (+ 30-50%). Also, you better have a hurricane plan for what you will do if a hurricane is approaching. Simply stating you will tie it down to your boat lift will not be acceptable.
The problem is so severe that even companies like Progressive will soon no longer write boats over 30' or $100,000 in value (per a recent news release). Progressive has already taken this approach to Gulf Coast business.
Good luck.

sy goldberg

02-06-2006 05:02 PM

Re: Insurance problems!

TO CAPO ! The rates are going up because you keep raising the price of stamps and when you have to mail thousands of policies it makes an impact.

drypipetiger

02-06-2006 05:08 PM

Re: Insurance problems!

Quote:

Originally Posted by sy goldberg

TO CAPO ! The rates are going up because you keep raising the price of stamps and when you have to mail thousands of policies it makes an impact.

I'd like to keep my rate down so I'll PM you my fax number... :D :drink:

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