Are high cat rates getting higher?
 

Not an owner yet but heard rates the past few week took a major jump. True?

Cat Rates
 

Not with our program.

Not in my case

None of our three cat carriers rates have gone up either.

not in our case either,switched from Markel to Stacy @ wakezone and should of done it years ago

Mine have gone down every year. This is my 8th year of owning a cat style hull.

:bsflag:
then must be a small Cat and she's depreciating like a rock ... none of the guys at our powerboat club experience reduced rates every year not even on my home or pick-up ..oh do tell :drink:
Stacy do your customers rates go down every year ??????????????????? i always thought the yearly depreciation made up for the economic rate increases and balanced themselves out ..

You are a ****ing smart ass. My boat is a 2005. Gone down every year with over $1K savings from previous year.

Markel btw.

thats a first :coolcowboy: down 1 K per annum :bong:you must be lowering the value annually as well .I'll have to call Loyds of London and ask them why my car premiums are'nt going down ..LOL

Call Hagerty for your cars. That's what I do. I paid way under market value for my cat 2 years ago when the market was tanked. I could probably sell it and make money. Only thing close to it in the classifieds is 81K and it has week power.

The rates for the 3 CAT programs we write have stayed steady like a rock since 2005. There are two other carriers out there who's rates change like the wind every year, sometimes lower, sometimes higher.. just depends on the rating factors and the program's loss ratio overall.

Sometimes you get new programs that come into the market, give people REALLY low rates to get them into their program and then the next year jack up their rates. Carriers/Programs can not survive on drastically reduced rates.

The carriers we write for truly subscribe to the philosophy that "slow and steady wins the race"...besides.. messing around with people's rates from year to year... up, down, up again... just makes boaters angry ;)