BoatUS Rate Increase

[JRW160]

I just got an email from boat US talking about the disasters that makes me think rates are going to go up for me as well.

[bturner2]

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.

[thatsmrmastercraft]

Looks like I ought to price Progressive before my renewal is due.

[bturner2]

Ski Safe came in on their deluxe policy for $297 but it didn't state if was an agreed on price and only had $100K in liability. This one I had priced at $500K. I need to do some more checking. I would also like to hear what any one's experience with Progressive is. The only time I had to have a claim BoatUS was great. Take it where you want, get an estimate and we'll send them a check. Which is why I stayed with them. But now...... no way not for that kind a rip. I'll probably drop the BoatUS membership next year too which will save me an additional $50 a year.

[Stritt]

Seems like you are experiencing what we have been going through since the hurricanes of 2004 here in Florida. It seems I have to change every 3 years. Just left AllState in October and went with Global. Our boat is in the garage, 18k agreed $500 + a year....No accident history. We do have a 12 month season though.....I have a feeling you will continue to see increases annually....unfortunately.

[Cobra Rob]

Originally Posted by thatsmrmastercraft

Looks like I ought to price Progressive before my renewal is due.

Be careful with Progressive they do not cover a lot of boat specific things like BoatUs etc.. Fuel spil cleanup, dredging, all the crap you would have to deal with if you had a total loss sinkage..

[thatsmrmastercraft]

Originally Posted by Cobra Rob

Be careful with Progressive they do not cover a lot of boat specific things like BoatUs etc.. Fuel spil cleanup, dredging, all the crap you would have to deal with if you had a total loss sinkage..

Great point.....now that you mention it, I remember that from shopping for insurance when I got my boat in '08.

[bturner2]

Looks like that's changed with their latest policies..... It was listed as a line item with a value of $500K. Now I actually submitted my request with NBOA (National Boat Owners Association) through a form which had you state what you wanted and for what values. They also asked who you were currently with and have to wonder if the policies they go after are based on that. Other line items on my quote were...

disappearing deductible
wreckage removal
marine electronics
Bodily Injury and Property Damage Liability $500,000 combined single limit each accident
Liability To Others
Includes Fuel Spill Liability

There are also line items for uninsured boater $500K
Replacement Cost Person Effects $1000
Watercraft Towing $500/incident
Roadside assistance

Agreed value of $45K for boat/trailer with a $500 dedcutible

I can't see what's missing,if anything it looks like I'm getting more as I didn't have a rider for personal items with BoatUS. The only thing I see that I may want to change is the medical payments as it's currently at $5K/person. Anyone have any thoughts on that?

[get_sum]

I use skisafe. Never had an issue but never had a claim either

[JDC]

Originally Posted by get_sum

I use skisafe. Never had an issue but never had a claim either

Insurance companies never have a problem taking your money.