Join Date: Oct 2009
Location: Swarthmore, PA
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Re: Boat Insurance Rate Increase
This will be my third season with BoatUS. I started with $1000 deductible, and it "diminished" to $750 last year and to $500 this time. I called them up and told them I was confused, because in prior years they said I would not have to pay any extra for this "diminishing deductible." They said that wasn't the reason the rate increased (which I already knew), but I told them that from my perspective it looked like I was now paying more money for a lower deductible that I didn't really want. I was able to raise the deductible back to $1000, which wiped out MOST (not all) of the premium increase. I pay $158 a year, so it's pretty reasonable.
Next year if they lower my deductible again, I'm going to ask to raise it back up to $1000 again for another rate decrease, since I really only want to insure against a catastrophic loss. In my experience with other types of insurance, filing small claims is a losing proposition, since they always earn it back with increased premiums (or cancelling your policy completely).
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1998 Catalina 250WK Take Five (at Anchorage Marina, Essington, on the Delaware River)
1991 15' Trophy (Lake Wallenpaupack)
1985 14' Phantom (Lake Wallenpaupack)