- Oct 6, 2006
- 12,153
- Boat Info
- 1996 450DA
- Engines
- 3116 Caterpillars
Then you don't have an equity problem, not an insurance problem.
During the heavy storm years, a lot of carriers withdrew from the Florida market. Boat/US was one who stayed, but their primary carrier charged a ton for coverage. When you are one of just a few companies who will covers high risk market, it can appear that you own it even though your costs are ridiculously high.
I've been with NBOA for 5+ years. They do what insurance agents are supposed to do. They are current, on time, questions are answered quickly by experienced folks who understand this market and write with highly rated companies. How much you pay for insurance can be dependant on a lot of things like location, the amount of debt you have, accident experience, deductibles, limits selected, etc.
In my case, I shop insurance every other year. I've had coverage from Boat/US and know them to be a good company, so I get quotes from them. I do have a high deductible and self insure for the low risk coverage like personal effects and NBOA is typically 50-60% of the Boat/US quote........and I've got an old boat that isn't eligible for the Sea Ray discount, even though it is a Sea Ray.
As far as I am concerned, it is NBOA that owns the Florida market.............
During the heavy storm years, a lot of carriers withdrew from the Florida market. Boat/US was one who stayed, but their primary carrier charged a ton for coverage. When you are one of just a few companies who will covers high risk market, it can appear that you own it even though your costs are ridiculously high.
I've been with NBOA for 5+ years. They do what insurance agents are supposed to do. They are current, on time, questions are answered quickly by experienced folks who understand this market and write with highly rated companies. How much you pay for insurance can be dependant on a lot of things like location, the amount of debt you have, accident experience, deductibles, limits selected, etc.
In my case, I shop insurance every other year. I've had coverage from Boat/US and know them to be a good company, so I get quotes from them. I do have a high deductible and self insure for the low risk coverage like personal effects and NBOA is typically 50-60% of the Boat/US quote........and I've got an old boat that isn't eligible for the Sea Ray discount, even though it is a Sea Ray.
As far as I am concerned, it is NBOA that owns the Florida market.............