Join Date: Oct 2009
Location: Swarthmore, PA
Thanked 88 Times in 78 Posts
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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)
1994 Mason 44 Firefly on loan from my BFF (West River, Galesville, MD)
1991 15' Trophy (Lake Wallenpaupack)
1985 14' Phantom (Lake Wallenpaupack)