Originally Posted by dennisjay
They raised my premiums by 22% two years in a row. Rates are likely to continue to rise. Losses from storms continue to go up. The fear of greater storm activity in the future may cause some insurers to abandon the boat market altogether.
Us, too. From $1550 per year in 2017 when we bought this boat, to $2848 in 2020. No claims.
It's seems unfair that they increase the rates on the people whose boats didn't sink, to pay for the claim money
to people whose boats did sink, but that's the way insurance works, I guess.
At some point, we'll probably just go to liability only on our boat. I moved our boat to it's hurricane
hole four times this year, and every time I did, half the boats in our marina stayed where they were. They got away with it for a while.
Finally, this last one, Zeta, sunk about eight of them in our harbor. But, a lot of the ones that left the marina and anchored, ended up on land, too.