Florida Insurance

After reading those last few, I'm guessing that Florida owner's won't want to post their rates. Am I right? Can Florida people confirm that?
 
Our insurance almost doubled from $4000 - $7800. In addition the windstorm deductible doubled from 5% to 10%. Boat US wanted $12,000, Progressive, Allstate, and others would not even quote. I hear lots of the same from fellow boaters regardless of underwriter. Many companies are not writing new policies. I understand one of the biggest hurdles So Fl. boat buyers are facing is securing coverage at any price.
 
Thanks.

The last thing I wanted to hear is Florida people paying $800 - well, sort of. I'm paying a lot more, and I'd rather we didn't have to pay so much, but I hate getting ripped off too.

There's a reason it's so high - the risk is high. There's a decent chance that many of us will receive substantial damage. We have to pay for that in advance.

On the other hand, some of us will go to great ends to prevent damage when storms do approach. Others live out of state and their boats just ride it out.
 
When I was searching for insurance AFTER I purchased my boat I was kicking myself when I was getting quotes from the 2 or 3 copanies that actually insure down here in SoFla. I had a way out of my purchase contract but I just wanted that darn boat badly but was not looking to pay any where close to the quotes I was given.
I spoke with my finance rep. at Marine Max Miami and she was able to put me with a brokerage that insures many other clients.The brokerage is Mcgriff Seibels & Williams 1-800-768-2121 whom gets the insurance from Camden Fire Insurance;this apparently is a Boater's Choice Insurance Program.
With "discounts" my premium is $2,115 per year, trust me MUCH better than what I had been quoted. My policy is up in July (right during hurricane season), I sure hope they do not raise my rates better yet I hope they still insure in SoFla, so I await the letter from my insurance company patiently with a jar of vaseline in my hand.LOL LOL :smt043
 
Mcgriff Seibels & Williams AKA Boater Choice was not writing any new policies in SO Florida the last I heard, (yesterday). They renewed mine at a hefty increase, (see post above).
 
JC: I have a 2004 280 Sundancer, love the boat.

Jon: Thanks, I have the For Sale sign ready...NOT! That is crazy how they jacked up your insurance but then again I am not surprised, just look at our home insurance rates; in 3 years I have gone from $1,800 to $4,500 and I live way west no where close to the water.
You would think that states where this sort of recreation that brings in SO much money to state,city revenues would have some sort of alternative plans.This coupled along with the lack of dockage space and the continous reduction of space due to the selling to developers will certainly hit the boating industry hard. I have owned my boat for 7 months and new to it, but I researched for 2 years before I made my move,and it ticks me off. Now I can only imagine you fellow boaters that have been doing this for lifetimes must REALLY be pissed. :smt013

Oh well, it is a cold winter day here in SoFla (77 degrees and not a cloud in the sky) I guess I will have to deal with it while I spend the entire day out on the boat with the family.
Have a great one ya'll!!! :cool:
 
WFYB said:
My understanding is: Progressive, Boaters Choice, Allstate are not writing new policies in So Florida

Jon
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We just got a Progressive policy in December for our 250 and we're in Port St. Lucie, FL
 
Hampton said:
What do you think? Who's a good company with diversified liability? For a 2005 340.
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i got a good guy in pompano. my 340 was quoted with 100-500 for 3900 bucks.
 
Check with whom you have your homeowners. I have everything with Allstate and am on the TX Gulf coast. Generally we are getting the same treatment as FL. But, I just added a '97 330 DA w/ $85k value, at $500k liability, full repair costs, $1k emergency, $2.5k deductible, plus all the other usual stuff - no named storm exclusions - for $1234/year. The Boat US quote was nearly 3X.
 
Well, anyone getting any new quotes? I'm coming due in late Dec. My buddy just told me that his 420 went up by almost double, but then he said it was 4000 and now it's 7500. That's in line with what I would have expected for last year. I hope mine doesn't double this year, but I really wouldn't expect much of an increase. I already pay 3500 for my 340.
 
Hampton said:
Well, anyone getting any new quotes? I'm coming due in late Dec. My buddy just told me that his 420 went up by almost double, but then he said it was 4000 and now it's 7500. That's in line with what I would have expected for last year. I hope mine doesn't double this year, but I really wouldn't expect much of an increase. I already pay 3500 for my 340.
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Just renewed mine Oct 27th, went up a couple hundred best deal I could find was $1200 a year for my SD240 with an agreed value of $55000 to include boat and trailer, but they only agree to that value for 5 years then they lower it, as if I'll be with them 5 years only chance of that happening is if the price started going down and I've never see insurance get cheaper. Atleast it is still cheeper then my home insurance (for now).
 
I tried to go with progressive and they told me they won't insure anything over 30 feet. I think State Farm is starting to write boat ins again in South Fl.
 
Don't get me started!

330K Agreed Value 2% non named storm, 15% Named storm retention Premium $8900. w/Travelers,

Outrageous 2 years ago.

2400 in 05
7200 in 06
8900 in 07

No claims ever.

Many here are writing only liability and just fading the heat on the hull ... scary but I've thought about it thats for sure.
 
You might want to ask your local Sea Ray dealer who they recommend..Even if you didn't buy the boat from them. I shopped Boat US, had progressive on my smaller Doral, but they won't insure over $100,000 or 30'; Geico wouldn't cover for Hurricanes---etc. I ended up with a local company that MM told me to use (I called and spoke with their finance guy at MM) and it was about $3500.00 for my 05 320. Not great compared to up north, but not bad with what Boat US quoted which was about $6,500 I think.

Barry
 
I've been with NBOA since I got my 240DA. In 2004 it was $450 w an agreed value at $75K after the 2005 storm year it went up to $850, and now I renewed this August for $910. by the looks of it looks like I'm getting a pretty go deal comparitively.

Morph;

you need to shop you're insurance with NBOA $1200 for 240SD is way to much.
 
Asureyez said:
Don't get me started!

330K Agreed Value 2% non named storm, 15% Named storm retention Premium $8900. w/Travelers,

Outrageous 2 years ago.

2400 in 05
7200 in 06
8900 in 07

No claims ever.

Many here are writing only liability and just fading the heat on the hull ... scary but I've thought about it thats for sure.
Click to expand...
Wow!!... those rate hikes are insane. :smt009
 
tphinney said:
I've been with NBOA since I got my 240DA. In 2004 it was $450 w an agreed value at $75K after the 2005 storm year it went up to $850, and now I renewed this August for $910. by the looks of it looks like I'm getting a pretty go deal comparitively.

Morph;

you need to shop you're insurance with NBOA $1200 for 240SD is way to much.
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I tired them they wanted like 1800 I don't get it I must stink or something. Only thing I can think of is that cause this is my first owned boat that wanna rip me off.
 
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