Insurance premiums

not enough info to determine the increase...

What agreed value and deductible on your boat?
what limit of liability?
what navigational limits?

In general, premiums are increasing for pretty much every first-party coverage (where the carrier pays you - like property, equipment, home, etc) in FL it can be up to 28% if you're in a high hazard class/area/navigational region

Declaration page for my Falcon 2009-2010 from Gowrie. Moved it to my Progressive Home & Auto policy for the 2010-2011 and saved about $100.

Jay, I was just looking for an indication of what percentage increases people are seeing. But fwiw the details are similar to what Kris posted. $17k value, $850 deductable, P&I $300k, Uninsured boater $100k.

Not to exceed 10 miles from land

... yowch that could hurt anyone in T-500, GT-300 etc who may wander a bit offshore...

and no coverage for the trailer? would someone steal both?

And I agree that Progressive has thrown out some decent numbers lately compared to the premium increase you mentioned... Haven't tried Geico, but both of these carriers look at your credit rating and driving record...

I've got the boat insured for $25k, the trailer for another $8k, and I think my premium is around $360 a year through Progressive.

I think my Progressive policy has a

named storm

exclusion. Everything else in Florida does!

I had to change providers this spring and shopped around. Progressive was the best I found @ $138/yr. (I also checked BoatUS and Gowrie)

Bit of an apples/oranges comparison - my TheMightyHobie18 & trailer is almost 25yrs old and only worth about $3000 now. I have 100k liability and a $500 deductible.

Tipping point for me was the included pet injury coverage. Actually - I just found it as I was leafing through the policy - how that got in there I'll never know.

Noticed my coastal navigation range is good for 75 miles though! When's the last time a non-spin boat ran the GT300?

I hope it was cheaper that way. I presume the logic there was that you'd hook up the trailer when you're leaving town in the path of a named storm....

I don't think the premium has changed much over the years but the storm exclusion is new.

Ditto,

And deductible is $125 vanishing.
Cost is $302

I insured my last boat through progressive for $5k for ~$200/year with a $250 ded., and it was totalled. That included the trailer, though, which was undamaged and customized, and that meant that they would keep the trailer (presumably goes to sit in a salvage yard.) if I took the payout. I bought the totalled boat and trailer back from them for $600 IIRC.

My next boat is insured for just under twice as much, with the same deductible, and the premium as actually LESS, at ~$150/year.

These also gave me about $85/year multi-policy discount off of my auto policy.

I think the premium discrepancy was due to ordering the first policy online which included roadside assistance and a few other things that don't apply to me, and I called for the second policy and only got the specific coverages I wanted.

Insurance is a strange business. Explain to me how the multi-vehicle discount works? I added a 2nd pickup to my policy, (just liability), and my premium went down $240 a year. Go figure! Maybe it'd be a different story if I had comprehensive and collision on the 2nd pickup, but still, the liability is there.

Because chances are you can't drive both vehicles at once?

Karl, That Jake fella is smart.You should listen up, he even used small words for you.

Hey, I need some help in my office. You got the brains for it....
How's your pole dancing technique?

More cars than drivers is a GOOD thing. Teenage drivers, however, is not such a good thing.

The technique is there - it's probably just not something you would want to see though.

No, I can't drive all three vehicles at once, but I can loan two of them out and be driving around in the third. Still though, less money for two vehicles? My bike is on its own policy.

Thanks for filling Jake in Todd. Them big 1s are tuf 4 me.

Yeah, you may want to check your policy about that... I know a few carriers that state if the drivers aren't listed on the policy, there's no coverage...

Remember two things about insurance in general:
- the devil is in the endorsements
- you often get what you pay for

And Jake, my pole dance is only legal in two states, and this ain't one of 'em

Insurance is like casino gambling... The house always wins.

well, in FL that's not always the case. Check the public record on the number of insurance companies that fold each year. Even the past few years with no storms/damage. And they are supposed to be regulated by OIR.

Anyone remember Poe? I think we (FL policyholders) are still paying that mess off....

And don't get me started on Citizens or the CAT fund...

<img src="<>/smile.gif" alt="smile" title="smile" height="15" width="15" /> Why? I'd love to hear your explanation for why I'm subsidizing wealthy, water front property owners, while I can barely find access.

BEGIN RANT...

Because they contribute more $ to the politicians who control this crap. For you local politicos, I will (begrudgingly) give props to FL Sen. Garrett Richter (head of insurance and banking committee)for his efforts at trying to reduce Citizens and their vast policy count (they are currently the largest carrier in FL in terms of # of policies written)

Also, Citizens is about the only carrier to cover mobile homes/manufactured housing. All that stuff you see in the keys will likely end up on your tab if something bad goes down..

and if

the big one

hits, the CAT fund will sell bonds to fund the estimated $450 B shortage. Yeah, like I want to buy a bond from a state that just got totally wiped out. Maybe I'll buy some Greek bonds while I'm at it...

END RANT

You going sailing sometime soon?

You forgot to mention that we're picking up the tab for all those mega mansions with their foundations in the high tide line.

So, the next time you're looking for a place to launch your boat you may want to give some thought to the fact that you're paying for all those waterfront property

owners

who exclude you.

Jay,

Don't forget to mention to all of them about the

new

carriers in the state with little to no re-insurance to cover the losses. Of course we won't discuss FEMA; that by law has to total and refuse to rebuild

substanitally damaged homes

, but they do, over and over and over!

Forrest
I-20

Yeah, FEMA's not a good word in our little part of the world. Seems the flood map just got

revised

and we've all sunk down into flood zones. So FEMA gets a whole lot of premium for stuff that's never flooded before but is now

at risk of flooding

Dang, that Al Gore dude must have been right and we're all sinking.... Or the Myan calander thing.

What I want to know is this. If I'm paying for water front property shouldn't I get to use it?

If the so called

owner

of waterfront property has publicly subsidized insurance, as part of the public shouldn't I have the same right to use the beach the

owner

does?

Should you? No, Pete, you should not. You want water front property, go buy warrfront property.

Fine, you move down here and pay the insurance, the

owners

sure as hell don't.

You are allowed on any beach. You just can't cross private property to get to it. People that live on say North Clearwater Beach only own a portion extending from the house to the water. The actual shoreline is public.

We can carry your argument further. Why should I subsidize homes in a wildfire prone ,tornado prone, or hurricane prone area.