- Aug 25, 2008
- 1,819
- Boat Info
- 2006 320 V-Drives 6.2s, Bow Thruster, Generator, Raymarine C80, Radar, Fish Finder
- Engines
- 6.2 Horizons 320HP
Last week I received a letter from NBOA informing me that the insurance company that held my boat policy is no longer writing marine policies. The letter went on to say that NBOA represents several A rated insurance companies and they are working on finding an alternate company.
Yesterday I received a letter/notice from American Bankers Insurance that they are not renewing my policy because "The agent no longer represents this company. Contact NBOA 1-800-248 3512 for alternate coverage" I found the reason confusing. Is American Bankers getting out of the marine business or did the relationship with NBOA break down?
I am waiting to see what NBOA comes up with as an alternate insurance company. I am also wondering if I should be concerned if the company is only an A rating..
Any thoughts?
AAA : EXTREMELY STRONG
AA : VERY STRONG
A : STRONG
BBB : GOOD
BB : MARGINAL
B : WEAK
CCC : VERY WEAK
CC : EXTREMELY WEAK
R : UNDER REGULATORY SUPERVISION
NR : NOT RATED
Yesterday I received a letter/notice from American Bankers Insurance that they are not renewing my policy because "The agent no longer represents this company. Contact NBOA 1-800-248 3512 for alternate coverage" I found the reason confusing. Is American Bankers getting out of the marine business or did the relationship with NBOA break down?
I am waiting to see what NBOA comes up with as an alternate insurance company. I am also wondering if I should be concerned if the company is only an A rating..
Any thoughts?
AAA : EXTREMELY STRONG
AA : VERY STRONG
A : STRONG
BBB : GOOD
BB : MARGINAL
B : WEAK
CCC : VERY WEAK
CC : EXTREMELY WEAK
R : UNDER REGULATORY SUPERVISION
NR : NOT RATED