Here we go again with Insurance issues

I spoke to Progressive this morning. Yesterday I received a letter from Progressive alluding that the rate increase was due to a car driving infraction.

I haven't had any car driving infractions so my first thought went to identity theft. Well......some things don't always turn out the way you expect them to.

Turns out my wife got a speeding ticket last year that was 18 miles per hour over the limit on a back road Virginia speed trap. Since she is on the boat policy as a Driver.....boom...... the renewal price went up by $400. She is not on the USCG Documentation paperwork so I dropped her name off the policy and they have reissued the renewal for $1,039 for 2023.

So a happy ending for this year's renewal.

Edit: Just received a quote from NBOA and they proposed $1,221 for the same coverage.

I realize that a few hundred dollars shouldn't matter with a boat but it just seems lame to light a match to money when I can use the money to buy some gas!

Al, thank you for the referral. I will look into Markel.
 
Last edited:
PlayDate said:
I spoke to Progressive this morning. Yesterday I received a letter from Progressive alluding that the rate increase was due to a car driving infraction.

I haven't had any car driving infractions so my first thought went to identity theft. Well......some things don't always turn out the way you expect them to.

Turns out my wife got a speeding ticket last year that was 18 miles per hour over the limit on a back road Virginia speed trap. Since she is on the boat policy as a Driver.....boom...... the renewal price went up by $400. She is not on the USCG Documentation paperwork so I dropped her name off the policy and they have reissued the renewal for $1,003 for 2023.

So a happy ending for this year's renewal.

Edit: Just received a quote from NBOA and they proposed $1,221 for the same coverage.

I realize that a few hundred dollars shouldn't matter with a boat but it just seems lame to light a match to money when I can use the money to buy some gas!

Al, thank you for the referral. I will look into Markel.
Click to expand...
John, sounds like your wife didn't get into VA's "Reckless Driving" category, that can be brutal.
I'm now intent on understanding the synergy between umbrella and boat policies. I can see that my boat is listed on my umbrella as an "underlying exposure" and I think that's important. If it wasn't listed I assume there would be no umbrella coverage in the event a boat accident exceeded boat insurance coverage. There is also a minimum required limit; only $300K so reasonable. There's no mention of any required ongoing providers for underlying coverages but I intend to ask. I suspect they require it only to write the initial umbrella policy.
The one thing about the Markel policy I don't like is that it requires that winterization be done by professionals. That seems to be common and bears watching by everyone. My previous policy only requires due diligence and I would like to get back to that.
 
PlayDate said:
I spoke to Progressive this morning. Yesterday I received a letter from Progressive alluding that the rate increase was due to a car driving infraction.

I haven't had any car driving infractions so my first thought went to identity theft. Well......some things don't always turn out the way you expect them to.

Turns out my wife got a speeding ticket last year that was 18 miles per hour over the limit on a back road Virginia speed trap. Since she is on the boat policy as a Driver.....boom...... the renewal price went up by $400. She is not on the USCG Documentation paperwork so I dropped her name off the policy and they have reissued the renewal for $1,039 for 2023.

So a happy ending for this year's renewal.

Edit: Just received a quote from NBOA and they proposed $1,221 for the same coverage.

I realize that a few hundred dollars shouldn't matter with a boat but it just seems lame to light a match to money when I can use the money to buy some gas!

Al, thank you for the referral. I will look into Markel.
Click to expand...

How are you able to do that? Every policy I own for the boat, RV, dirtbikes, vehicles (all different companies) - if your spouse lives with you they are listed as an operator. They won't remove her.
 
Last edited:
douglee25 said:
How are you able to do that? Every policy I owe for boat, RV, dirtbikes, vehicles (all different companies) - if your spouse lives with you they are listed as an operator. They won't remove her.
Click to expand...

Great question. Their policy is specific for boats. If she is not on the Title or in this case Documentation with the USCG.....there is no requirement that she be a named Operator unless she actually operates the boat. I put her name on the 2022 policy as a courtesy to her but she hasn't driven the boat in years.

So I authorized her name to be removed as an Operator after substantiating (using the USCG Certificate of Documentation) she was not on the USCG paperwork and the renewal price dropped by 40%.

Wife is pissed that the insurance amount increase was twice the cost of the ticket.
 
PlayDate said:
Great question. Their policy is specific for boats. If she is not on the Title or in this case Documentation with the USCG.....there is no requirement that she be a named Operator unless she actually operates the boat. I put her name on the 2022 policy as a courtesy to her but she hasn't driven the boat in years.

So I authorized her name to be removed as an Operator after substantiating (using the USCG Certificate of Documentation) she was not on the USCG paperwork and the renewal price dropped by 40%.

Wife is pissed that the insurance amount increase was twice the cost of the ticket.
Click to expand...

Interesting. I'm going to double check again.
 
I finally got a new policy today. I went through USAA and they use Markel. It was about $200 more than my old policy, but about that much less than the others I checked on.
 
GypsmJim said:
I imagine that many boats and homes will be destroyed by Ian. Even if you live in a nice quiet safe area with no chance of a hurricane, tornado, etc, (and that's WHY you live there) your marine and homeowner's insurance will skyrocket next year so that the companies can recover their losses.
Click to expand...

Yes. It’s why they call it insurance.

It’s the only industry who’s business model contradicts its mission. They receive payments in form of premiums in order to pay out claims. Insurance is a tremendous scam but you can’t do anything without it.
 
El Capitan said:
Yes. It’s why they call it insurance.

It’s the only industry who’s business model contradicts its mission. They receive payments in form of premiums in order to pay out claims. Insurance is a tremendous scam but you can’t do anything without it.
Click to expand...

You believe the business model for the insurance industry is something other than to generate a profit, exclusively?
 
El Capitan said:
Yes. It’s why they call it insurance.

It’s the only industry who’s business model contradicts its mission. They receive payments in form of premiums in order to pay out claims. Insurance is a tremendous scam but you can’t do anything without it.
Click to expand...
I live where I do because it's safe. As such, my premiums are relatively low. If anybody wants to live in hurricane alley, I have no problem with that. BUT, I expect YOU to pay for that risk accordingly. And I'm sure you do.

Now, when disaster strikes, Y'ALL can pay even higher premiums. What I resent is that I have to share the cost.

I bought my first insurance policy in 1968. As years went by homowners, boats, liability, classic car, etc, etc policies were added. In all those years I have never had a claim, so my insurance companies are making a big profit off of me. I simply resent being screwed because I do everything right and have to pay for those that don't.
 
GypsmJim said:
I live where I do because it's safe. As such, my premiums are relatively low. If anybody wants to live in hurricane alley, I have no problem with that. BUT, I expect YOU to pay for that risk accordingly. And I'm sure you do.

Now, when disaster strikes, Y'ALL can pay even higher premiums. What I resent is that I have to share the cost.

I bought my first insurance policy in 1968. As years went by homowners, boats, liability, classic car, etc, etc policies were added. In all those years I have never had a claim, so my insurance companies are making a big profit off of me. I simply resent being screwed because I do everything right and have to pay for those that don't.
Click to expand...
 
GypsmJim said:
I live where I do because it's safe. As such, my premiums are relatively low. If anybody wants to live in hurricane alley, I have no problem with that. BUT, I expect YOU to pay for that risk accordingly. And I'm sure you do.

Now, when disaster strikes, Y'ALL can pay even higher premiums. What I resent is that I have to share the cost.

I bought my first insurance policy in 1968. As years went by homowners, boats, liability, classic car, etc, etc policies were added. In all those years I have never had a claim, so my insurance companies are making a big profit off of me. I simply resent being screwed because I do everything right and have to pay for those that don't.
Click to expand...
You are only a fire with a total loss to square things up.
 
GypsmJim said:
I live where I do because it's safe. As such, my premiums are relatively low. If anybody wants to live in hurricane alley, I have no problem with that. BUT, I expect YOU to pay for that risk accordingly. And I'm sure you do.

Now, when disaster strikes, Y'ALL can pay even higher premiums. What I resent is that I have to share the cost.

I bought my first insurance policy in 1968. As years went by homowners, boats, liability, classic car, etc, etc policies were added. In all those years I have never had a claim, so my insurance companies are making a big profit off of me. I simply resent being screwed because I do everything right and have to pay for those that don't.
Click to expand...
Well buckle up. Your car insurance is going to go up 20 - 30 % next year. The insurance industry says it is because of more frequent and severe accidents involving young drivers AND ( this is my favorite, I put it right up there with "human induced" climate change) supply chain issues...I no longer have young drivers on my policy and my wife and I are not young nor have we ever had a car insurance claim.
 
That's why I buy my kids cheap POS's and just carry liability. They wreck it, tough. They are then on their own for another one and insurance.
 
spikedaddy99 said:
That's why I buy my kids cheap POS's and just carry liability. They wreck it, tough. They are then on their own for another one and insurance.
Click to expand...
We did the same thing for our girls all the way through college. Used modest cars that we self-insured. When the graduated they got a new car as a graduation gift to set them up for their new careers.
 
spikedaddy99 said:
That's why I buy my kids cheap POS's and just carry liability. They wreck it, tough. They are then on their own for another one and insurance.
Click to expand...
I have never had an accident and I have NEVER bought anything but liability insurance. Lots of it.

I figure if it's my fault it sucks to be me.

I added up all of the collision insurance savings over the last umpteen years, and it paid for my current Lincoln.
 
Well I guess I won the lottery today since I got my renewal from Chubb. I was stressing they were going to cancel since that seems to be the trend here in SoFlo. Just jacked me another $1000 for the year. Said to say I am happy but in this day in age here I am just lucky to have it I guess. So yeah!!! Get to keep the boat another year…
 
ocgrant said:
Well I guess I won the lottery today since I got my renewal from Chubb. I was stressing they were going to cancel since that seems to be the trend here in SoFlo. Just jacked me another $1000 for the year. Said to say I am happy but in this day in age here I am just lucky to have it I guess. So yeah!!! Get to keep the boat another year…
Click to expand...
Don't be faced with any claims; I'm here to tell ya. My buddy in the Fl panhandle just got his renewed (58DB) for about the same as last year.
 
You must log in or register to reply here.

Forum statistics

Threads
113,173
Messages
1,427,914
Members
61,086
Latest member
MrWebster
Back
Top