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-   -   700% increase in Insurance! (http://www.sailnet.com/forums/general-discussion-sailing-related/99135-700%25-increase-insurance.html)

Joesplace 05-03-2013 04:57 PM

700% increase in Insurance!
 
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 . . .

Faster 05-03-2013 04:59 PM

Re: 700% increase in Insurance!
 
"Hurricane rules"???

PCP 05-03-2013 05:00 PM

Re: 700% increase in Insurance!
 
What is the age of the boat and the size? Ok,I forgot about hurricanes:rolleyes:

Joesplace 05-03-2013 05:03 PM

Re: 700% increase in Insurance!
 
According to BoatUS, the Gulf area is the second most expensive place to insure a boat. The most expensive is Miami area . . . hate to see the premiums . . .

Joesplace 05-03-2013 05:04 PM

Re: 700% increase in Insurance!
 
This is a 1982 Southern Cross 28' with a set value of 30k . . .

Group9 05-03-2013 05:10 PM

Re: 700% increase in Insurance!
 
You are in the cone of just about 90 per cent of every hurricane there ever was in history.

Come east to Mississippi where it goes up to about 95 per cent and see what the rates are. :D

Brent Swain 05-03-2013 05:16 PM

Re: 700% increase in Insurance!
 
Insurance companies have seen a huge increase in claims due to weather changes from global warming . So you will have to convince the insurance industry that they are just imagining it, and that climate change is not really happening, to get your premiums lowered.
Good luck!

SloopJonB 05-03-2013 05:16 PM

Re: 700% increase in Insurance!
 
If insurance cost nearly 10% of the boats value I'd just get liability, an oversize set of ground tackle and take my chances.

PCP 05-03-2013 06:21 PM

Re: 700% increase in Insurance!
 
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:eek:

dvuyxx 05-03-2013 06:23 PM

Re: 700% increase in Insurance!
 
Although my increase wasn't anywhere near yours, I just lowered my BoatUS policy by raising my deductible. They lower it every year you don't have a claim. But then you need to call and raise it back up.


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