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Why is Boat insurance SOOO EXPENSIVE in FL!!

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Old 12-30-2003, 10:02 PM
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Angry Why is Boat insurance SOOO EXPENSIVE in FL!!

Man, it's just freaking CRAZY how much it costs to TRY and insure a 35+ Ft. Power boat in FL. I have no claims, a clean driving record, and 45 years young!
Sy Goldberg has given me the best $$ so far, BUT I'm having a hard time justifying paying $3,000.00 + with a 4% deductible for a 120,000.00-140,000.00 BOAT! To Sy , Dave, Rodney, and all the other insurance agents, thanks for your time and effort in trying to help me find reasonable insurance.
I'm kinda @ a impasse on buying a new boat, (HQ has already given the OK, for the new boat!!)
UNLESS I can find more reasonable insurance! What kills me is the same boat anywhere else is roughly 50% less for insurance!
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Old 12-30-2003, 10:10 PM
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Cause we boat 12 months a year,no layups like up north
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Old 12-30-2003, 10:14 PM
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Some up north would say we pay that much and don`t boat Nov.-March...Its high everywhere now! U wanna play u gonna have to pay and they know u will..
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Old 12-30-2003, 10:15 PM
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Oh yeah???? You'll pay that much in Jersey WITH a layup
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Old 12-30-2003, 10:53 PM
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BINGO ...CHA...CHING ...paying 2K for 140K ageed value V-bottom w/ 6 month layup. I am excellent risk also...and that was a good price! Another $4-600 for 500 HP's and the speed that goes with them! Insurance is as much as my slip, and almost as much as a season's fuel here (5-6 mo season at most). It's f**kin' rediculous!
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Old 12-30-2003, 11:24 PM
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Well guys thanks for making me feel a little better about the insurance $$ associated with bigger boats.

Rippem,
What size is your Formula, and what power do you have in it? I'm looking @ some 2000 353's with HP500 EFI's and that's what I'm getting the quotes on.

Maybe I'm just too much of a tight wad! I guess the old adage comes to mind, "If you want to PLAY, you have to PAY $$$$!!!!
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Old 12-30-2003, 11:39 PM
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Dean, 353 w/425's. I had intended on buying a used one w/500's also but the interest rate, insurance, full 5 years of warranty, easier on fuel, put me to looking for a new boat w/ black motors.
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Old 12-30-2003, 11:47 PM
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$3200.. with 4 month layup in Ok. 36 daytona with 500's!!!! It sucks!!!
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Old 12-31-2003, 12:02 AM
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Quote:
Originally posted by mopower
Oh yeah???? You'll pay that much in Jersey WITH a layup
Beat me to the punch on that one.
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Old 12-31-2003, 12:08 AM
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F38 that's really not bad considering the value and speed, and that it's a CAT . Were you able to prove prior cat experience? I understand that makes a substantial difference in the premium. The first time cat owner gets hit HARD!!
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