Yep, that's how mine started. Got a letter telling me how well they did paying off all the claims for the hurricanes and an Obama like statement telling me about how we're all going to have to chip in to pay for it. A month later my renewal came and it was 25% more then the previous year. I started with then at $450 and 4 years later it's now jumped to $650. I'm sorry but I'm done.
I just got my quote back from Progressive on an agreed upon value $46K and the same coverage as my old BoatUS policy. My rate from them..... $297. I hate to do it but BoatUS even with my safe boater discount is $250 more. I'll be dropping them for my PWC come this fall too. I'm sorry but if you're on the East coast, moored in the ocean where you're subjected to hurricanes you should pay much higher rates. My boat sits on a lift or in covered storage at my house and we don't have yearly hurricanes to worry about. Sorry but my risk is much lower and I can't afford to pay for others risk any longer.