Join Date: Feb 2010
Location: Narragansett Bay
Thanked 284 Times in 267 Posts
Rep Power: 7
I had a weather related claim that happened at the marina while I was away. I understand it cost me a 10% increase in premium the next year. The claim, however, was about 5 times the annual premium. Nevertheless, I was told that a simple yes to where you've had a claim (not whether you've had an accident) will drive the premium up.
That concept really ticks me off, btw. I understand that if an operator proves to be more reckless than average, they should pay a higher risk premium. However, no one can manage the weather. They are just recovering their losses, which seems to fly in the face of why we buy insurance in the first place.
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In the harsh marine environment, something is always in need of repair. Margaritas fix everything.