Jupiter Sunsation

Living in FL adds a whole new multiplier to the insurance scam:

For me a new 07 288 MCOB with 496 HO (70+ mph) is 1300 yr with Progressive

My 04 32 MCOB (73 MPH) is $2700 but they won't write a new 32 since their new cutoff at Progressive is 30 ft or 100K.

Geico (Sea Safe) quoted me today on the 04 32 MCOB $4500 yr with NO WINDSTORM COVERAGE (Hurricances), a 5% deductible and a 12% deductible for theft. I laughed at the lady and sent my renewal check in to Progressive

mama tryed

$646.00 a year through State Farm, I'm sure it helps that I also have Three vehicles, House and property with them.

Mentalpause

Yep. I also have bank accounts, mutual funds and credit cards, as well as all cars, both houses, Umbrella policy etc.

All that helps when you want to get your boat covered.

megstoytoo

All the other pieces like other vehicles, homes and umbrella do help. The problem was in fact with the umbrella. I needed a minimum of $500k of liability to meet the umbrella minimum. There was plenty of insurance out there to cover replacement of the boat, etc. Issue was on finding $500k of liability coverage. Everyone was quoting only a $100K. Other boat is 20 ft. 55mph. Making the switch to 32 ft. 80 mph with 496 HO was problem.

Mentalpause

Mine required 500K liability, they would not write any less. I could go more if I wanted to.

augie58

are those of you getting hit with the high premiums haveing you auto driving records brought up?

in 1990 i bought my first boat a heavy 25 ft wannabe go fast, my state farm agent had a fax (sows the times) from underwriting asking if they should insure my boat because of speeding tickets on my auto driving record.

just my .02

btw 1998 formula 353 hp 500's with state farm in wisconsin approx $900/yr

Mentalpause

That will always happen. There are credit ratings that apply and lots of other determinations. Some may think it is not fair, but reality is the actuary tables don't lie, there is a relationship between behaviors in an auto or bad credit and propensity for loss on other items. So that all comes into play these days as the insurance companies become much more sophisticated in what they consider.

mama tryed

Very well stated!! It's all about the "risk factor"

Reckless32

Progressive via Worldwide insurance. Don't bother trying to call Progressive up direct. Go thru Worldwide.

Avoid any "Yacht" type policies. You will pay far more for stuff you don't need. Stick with recreational boat types. BTW you don't know the top speed. All you know is it's got these motors and it's this long...

Jupiter Sunsation

John I agree 100% but they are also considering the zip codes as well. If you live in a high risk area (hurricanes, theft, etc) then you will be charged for it!