Originally Posted by eherlihy
Yeah. Mine went up by $200... Last year it went up by $50... Despite no claims in either year (never had a claim).
So I called them and asked what was up with the premium? They told me that my deductible went down to $500. I asked them to raise the deductible back up to $1K. My net premium this year went down by $20...
Insurance is a racket...
Hmmm, that "diminishing deductible" was supposed to come at no extra charge. I never even thought of asking them to raise it up again. Thanks for the idea!
As for that IP boat, I'm no expert, but 110 HP sounds like very little power to keep a boat like that under control in tough conditions. If those delivery guys were powerboat guys, I suspect it was a very different situation than they were used to.
As for the issue of whether our insurance would go up because of these clowns, doesn't the insurance industry separate people into "risk pools" or something like that? I'd expect delivery captains to be in one risk pool with a certain rate structure (I assume their certifications requires them to carry professional liability insurance), and recreational boaters a totally different one. So while it's fun to vent about how a couple of clowns like there make all our rates go up, I'm not sure sure it would unless someone else here has direct knowledge of how the industry works.