Cruisers Forum
 


Join CruisersForum Today

Reply
 
Thread Tools Rate Thread Display Modes
Old 27-07-2016, 13:30   #1
Registered User

Join Date: Dec 2012
Location: Punta Gorda Fl
Boat: 40' Leopard
Posts: 297
insurance rip off

Hi all boaters I just payed my insurance primiums and they went up $300
for this year. My former company sold to Geico . I have complained to my agent and they gave me 140 back . I am still ticked as I wonder if the company is trying to pay for thier purchase all in one year.
If your insurance has gone up because of the purchase Please complain to your agent .
Who knows may you will get some money back
I have never had a claim
__________________

__________________
rancher44 is offline   Reply With Quote
Old 27-07-2016, 13:44   #2
Senior Cruiser

Cruisers Forum Supporter

Join Date: Jul 2005
Boat: Outbound 44
Posts: 3,765
Re: insurance rip off

Always frustrating to get insurance increases. Have you shopped around to get market pricing from other insurers? Looks like you are in FLA, a marine insurance market that has to deal with hurricanes, lightning strikes and Floridians.
__________________

__________________
Paul L
http://svjeorgia.blogspot.com
Paul L is offline   Reply With Quote
Old 27-07-2016, 14:24   #3
Registered User
 
S/V Illusion's Avatar

Join Date: Oct 2007
Location: Lakewood Ranch, FLORIDA
Boat: Alden 50 in Narragansett Bay, RI
Posts: 1,559
Re: insurance rip off

For fear of stating the obvious, selecting an insurance company based on price is never a good idea.
__________________
S/V Illusion is offline   Reply With Quote
Old 27-07-2016, 15:40   #4
smj
Registered User

Join Date: Nov 2007
Location: galveston tx.
Boat: Searunner 38 catamaran
Posts: 3,205
Re: insurance rip off

Things hardly ever stay the same or go down. It would be more interesting and relevant if you could tell us how much you paid last year, or the % it went up.


Sent from my iPad using Cruisers Sailing Forum
__________________
smj is offline   Reply With Quote
Old 27-07-2016, 15:55   #5
Senior Cruiser

Cruisers Forum Supporter

Join Date: Feb 2012
Location: Carrabelle, Florida
Boat: Self-built 44' steel trawler
Posts: 823
Re: insurance rip off

Particularly Floridians. How many headlines start with "Florida man...." Like the Key Largo accident (Feb 2013) in which a man with three 300 HP engines on his sport fisher crossed 250 feet of mangrove before stopping. South Florida, apparently, is the world's deadliest place to be a boater.
__________________
tkeithlu is offline   Reply With Quote
Old 27-07-2016, 17:43   #6
SFS
Registered User

Join Date: Sep 2015
Location: Tampa Bay, FL
Boat: Hunter 31
Posts: 100
Re: insurance rip off

You should shop around. I carry only liability, so I cannot speak for hull coverage. My policy is through BoatUS. They recently changed carriers TO Geico, from someone else I had never heard of, and my premiums went DOWN rather drastically (again, this is liability only). I have had no claims either.

If you like your current agent and carrier, ask him or her to have the carrier take a look at your situation as if it were new business. That sometimes makes a difference (it did for me with the policy above.)
__________________
SFS is offline   Reply With Quote
Old 27-07-2016, 17:50   #7
Registered User

Join Date: Jan 2016
Location: Huntington NY
Boat: Tartan 3000
Posts: 88
Re: insurance rip off

Just get liability. $75/1MM
__________________
Larry Florida is offline   Reply With Quote
Old 27-07-2016, 18:05   #8
Marine Service Provider
 
bdbcat's Avatar

Join Date: Mar 2008
Posts: 4,648
Re: insurance rip off

Larry...

Any suggestions where to get $75/1MM coverage for a 50 ft. motor yacht in Florida? Serious query...

Thanks
Dave
__________________
bdbcat is offline   Reply With Quote
Old 27-07-2016, 18:39   #9
Registered User

Join Date: Jan 2016
Location: Huntington NY
Boat: Tartan 3000
Posts: 88
Re: insurance rip off

I got BoatUS liability only a month ago. 1,000,000 was same price as 100,000. My boat is 30 ft in NY, coverage is for all east coast including Florida.
__________________
Larry Florida is offline   Reply With Quote
Old 28-07-2016, 06:24   #10
Registered User

Join Date: Dec 2012
Location: Punta Gorda Fl
Boat: 40' Leopard
Posts: 297
Re: insurance rip off

LAST year premium was 3000. this year 3300 for 40 cat 2010
And yes I did shop around
__________________
rancher44 is offline   Reply With Quote
Old 28-07-2016, 06:29   #11
SFS
Registered User

Join Date: Sep 2015
Location: Tampa Bay, FL
Boat: Hunter 31
Posts: 100
Re: insurance rip off

Quote:
Originally Posted by bdbcat View Post
Larry...

Any suggestions where to get $75/1MM coverage for a 50 ft. motor yacht in Florida? Serious query...

Thanks
Dave
Try BoatUS. That figure is about what I paid.
__________________
SFS is offline   Reply With Quote
Old 28-07-2016, 06:56   #12
smj
Registered User

Join Date: Nov 2007
Location: galveston tx.
Boat: Searunner 38 catamaran
Posts: 3,205
Re: insurance rip off

Quote:
Originally Posted by rancher44 View Post
LAST year premium was 3000. this year 3300 for 40 cat 2010
And yes I did shop around

We are with Boat US and there policy through Geico this year went up 20%. Having said that I couldn't be happier as the navigable limits changed from a small sound in NC to all US and Canada coastal.


Sent from my iPhone using Cruisers Sailing Forum
__________________
smj is offline   Reply With Quote
Old 28-07-2016, 07:33   #13
Registered User

Join Date: Mar 2013
Location: East of the river CT
Boat: Oday Mariner 19 , Four Winns Marquis 16 OB, Kingfisher III
Posts: 279
Send a message via Skype™ to Colin A
Re: insurance rip off

It appears Geico took over Seaworthy which had been the carrier Boat US used for quite awhile, I believe they had there own special Boat US policies.
Geico used to outsource all it's Boat and Yacht insurance until the change. It looks like some is still outsourced.
https://www.geico.com/about/corporat...ncy-companies/

I used to work for one of the companies on the list and I remember getting Geico claims. The agents were not well trained at the time, so the policies tended to have odd restrictions the agents added to try and game a lower rate in the quote system.

Anyways as said shop around when you get to larger yachts not from large makers you get huge variation on premium as some of it is priced per boat in the office.
__________________
mysite: Colinism.com
Work for
Bass Products
Colin A is offline   Reply With Quote
Old 28-07-2016, 10:14   #14
Senior Cruiser

Cruisers Forum Supporter

Join Date: Jul 2005
Boat: Outbound 44
Posts: 3,765
Re: insurance rip off

Quote:
Originally Posted by Colin A View Post
It appears Geico took over Seaworthy which had been the carrier Boat US used for quite awhile, I believe they had there own special Boat US policies.
Geico used to outsource all it's Boat and Yacht insurance until the change. It looks like some is still outsourced.
https://www.geico.com/about/corporat...ncy-companies/

I used to work for one of the companies on the list and I remember getting Geico claims. The agents were not well trained at the time, so the policies tended to have odd restrictions the agents added to try and game a lower rate in the quote system.

Anyways as said shop around when you get to larger yachts not from large makers you get huge variation on premium as some of it is priced per boat in the office.
Geico and Seaworthy have been Berkshire Hathaway companies for a long time:
Quote:
GEICO Marine Insurance was originally established in 1989 in Annapolis, Maryland as Seaworthy Insurance Company. In 2007, the company was acquired by Berkshire Hathaway, providing more capital, strength and security for the company and its policy holders.
__________________
Paul L
http://svjeorgia.blogspot.com
Paul L is offline   Reply With Quote
Old 28-07-2016, 11:40   #15
Liveaboard Cruiser
 
SV THIRD DAY's Avatar

Cruisers Forum Supporter

Join Date: Aug 2006
Location: Morro Bay, CA
Boat: 1978 Hudson Force 50 Ketch
Posts: 3,309
Send a message via Skype™ to SV THIRD DAY
Re: insurance rip off

Well at least my boat insurance isn't like my Health insurance that tripped in cost.
But on the bright side...if you like your Boat Insurance, you can keep your boat insurance!
__________________

__________________
Rich Boren Living Aboard in Morro Bay, CA and the owner of:
Cruise RO Water High Output Water Makers
Technautics CoolBlue Refrigeration

SV THIRD DAY is offline   Reply With Quote
Reply

Tags
insurance

Thread Tools
Display Modes Rate This Thread
Rate This Thread:

Posting Rules
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts

BB code is On
Smilies are On
[IMG] code is On
HTML code is Off
Trackbacks are Off
Pingbacks are Off
Refbacks are Off


Similar Threads
Thread Thread Starter Forum Replies Last Post
Help! dealer rip off? roland stockham Engines and Propulsion Systems 19 04-02-2016 14:36
Is the Caribbean a rip off? JCJ 1970 Liveaboard's Forum 23 09-01-2016 17:12
Lectrasan electrode plate rip off wynmead Plumbing Systems and Fixtures 3 25-09-2012 22:02
Maxsea TZ - Rip-Off Britain ? John Duckworth Navigation 2 14-07-2010 11:19
Marinas Rip Off Electrical / Water Meters - How Do I Check? MarkJ Electrical: Batteries, Generators & Solar 14 04-10-2009 18:58


Our Communities

Our communities encompass many different hobbies and interests, but each one is built on friendly, intelligent membership.

» More about our Communities

Automotive Communities

Our Automotive communities encompass many different makes and models. From U.S. domestics to European Saloons.

» More about our Automotive Communities

Marine Communities

Our Marine websites focus on Cruising and Sailing Vessels, including forums and the largest cruising Wiki project on the web today.

» More about our Marine Communities


Copyright 2002- Social Knowledge, LLC All Rights Reserved.

All times are GMT -7. The time now is 23:18.


Google+
Powered by vBulletin® Version 3.8.8 Beta 1
Copyright ©2000 - 2017, vBulletin Solutions, Inc.
Social Knowledge Networks
Powered by vBulletin® Version 3.8.8 Beta 1
Copyright ©2000 - 2017, vBulletin Solutions, Inc.

ShowCase vBulletin Plugins by Drive Thru Online, Inc.