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  #11  
Old 05-03-2013
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Re: 700% increase in Insurance!

Quote:
Originally Posted by PCP View Post
That is absolutely crazy. There are not not marinas that can take the boats out of the water face an hurricane and put them on anti-Hurricane pits? That would not take the premium down...a lot?

If the premium is 10% a 300 000 euros it would pay 30 000 euros a year

I don't feel it is all that crazy as there is as close to 100% chance of something happening as is possible

As far as the whole hauling thing well some of the hardest hit boats in New Jersey were hauled and floated away in the surge

I did the right thing my boat was hauled and blocked at home and fortunately the big azz 150 year old tree did NOT FALL

My friend down the road did the right thing his boat was NOT HAULED and the big azz tree did in fact fall on his hauling spot


I was really freaking lucky my carefully racked mast was just above the storm surge other wise all my electric and winches and Profurl bearings would have has thousands in damage
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  #12  
Old 05-03-2013
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Re: 700% increase in Insurance!

Something seems wrong with the rate/quote you got. I am in Pensacola and just insured a 30K value sailboat with 1K deductible and 300K liability for 371 yearly. No survey.
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  #13  
Old 05-03-2013
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Re: 700% increase in Insurance!

Are any other members seeing this kind of increase? I'm not due until Fall, however 700% or even 100% increase will not be fun to handle.

Brad
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Old 05-03-2013
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Re: 700% increase in Insurance!

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Originally Posted by Joesplace View Post
Just moved from San Francisco California to Slidell Louisiana and BoatU.S. insurance went from $332 a year to $2177. That's almost a 700% increase! Holy crap that's high, not sure if I can continue sailing at this cost. Guess we will look around for a less expensive policy . . .
That's plain silly from this and other posts recently it appears that anyone that has been hit by a hurricane in the last 10yrs is going to be discouraged to own a boat with rates like this.
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  #15  
Old 05-03-2013
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Re: 700% increase in Insurance!

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Originally Posted by tommays View Post
I don't feel it is all that crazy as there is as close to 100% chance of something happening as is possible

As far as the whole hauling thing well some of the hardest hit boats in New Jersey were hauled and floated away in the surge

...
I heard about some pits where the boats are in and that are hurricane proof. That was what I was talking about. They are not common?

Regards

paulo
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  #16  
Old 05-03-2013
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Re: 700% increase in Insurance!

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Originally Posted by Joesplace View Post
Just moved from San Francisco California to Slidell Louisiana and BoatU.S. insurance went from $332 a year to $2177.

Just a wild guess but i am thinking your cost of living went down by at least $1845/year. Might even be closer to a 700%. I know I pay $5.99/lb for live crawfish in CA. I remember paying less than $1/lb in Nawlins.

I'm wondering how much it cost to get a boat from the Bay Area to LA?
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Old 05-03-2013
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Re: 700% increase in Insurance!

That's bloody insane. My rates went up a couple bucks at renewal. My Safeco policy is $27/month with a $500,000 liability, full replacement cost (only a $4,000 boat, $1,000 motor, $1,000 trailer, and lots of stuff). My primary insurance company for the home, car and boat, with $500,000 liability, basically same things as Safeco, is even less.

I'm in imminent huge earthquake country, and if the Bonneville Dam collapses, all the boats on the Columbia will be floating garbage.

Look for another insurance company if, after you talk to your agent about the 700% increase, things don't get more reasonable. I'm hoping this was a mistake.

I work in the legal field, and I despise insurance companies. They'll expend tens of thousands of dollars just to not pay a $2,600 claim. Insane. There definitely needs to be some legislative action to control the out-of-control insurance companies. They, like the oil industry, pretty much have ruined this Country.

I don't even want to go into the medical industry. And, next year, we get ObamaCare.

Please keep us posted. Having insurance for a boat is very important.
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Old 05-03-2013
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Re: 700% increase in Insurance!

You think that's insane. You chose own a sailboat , you choose to live in a hurricane hit zone, you have a choice of insurance companies. Shop around. If this is the going price then decide whether sailing is what YOU choose to spend your money on. No one said its inexpensive to own a boat. I don't want to subsidize your keeping a boat in the riskiest destruction zone. Mine went up 100% due to Sandy. It's your choice after all.....your choice all the way.

Dave
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  #19  
Old 05-03-2013
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Re: 700% increase in Insurance!

Quote:
Originally Posted by tommays View Post
As far as the whole hauling thing well some of the hardest hit boats in New Jersey were hauled and floated away in the surge
it's true. A lot of boats were badly hit up river on the hudson too. The kind of place you would never expect a huge storm surge.. yet here, at Atlantic City, where the hurricane came ashore, we had minimal damage compared to up north
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  #20  
Old 05-04-2013
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Re: 700% increase in Insurance!

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Originally Posted by azguy View Post
That's plain silly from this and other posts recently it appears that anyone that has been hit by a hurricane in the last 10yrs is going to be discouraged to own a boat with rates like this.
I don't carry anything but liability on my boat now. After having prepared my boat for hurricanes, and been hit my so many I've lost count since 1985 and Elena, and seen that I know how to secure my boat (the only boat I ever lost was my ski-boat, that sank on its trailer in my driveway in Katrina because I misjudge how high the surge would be and improperly adjusted the lines for a 10-15 foot surge rather than the 35 foot one I got. My next door neigbor's 25 center console rode it out, and was then destroyed two months later when a tree cutter accidently put a tree on it)

Most boats that sink in hurricanes I have been in had zero preparation for it, or improper preparation (we had a dry storage rack here where even the boats on the highest level were destroyed when the storage building was washed away by the surge).

The boat that survived Katrina, and there were many, were the ones that were taken far up canals and bayous, and tied off to trees, with lots of room to rise with the surge.
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