Travelers yacht insurance

It’s not just Traveler’s.

Geico goes up a hundred or two a year and I’ve never filed a claim either. They tell me that it’s the increased claim activity in my area that’s jacking up the premiums.
 
My small boat insurance went from $132 to $200 this year. Not a big absolute increase but a huge increase on a percent basis. I got quotes from three other companies and they were all more than $200.
 
duckmnn said:
Has anybody had their rates jump excessively over last couple years ?? Mines raised over 200$ since 2019. There have been zero claims . I've thought about searching for new insurance, but been with them twelve years . Thanks
Click to expand...

Mine Travelers Insurance went up $100 this year to $508 a year ....... but I got them for $12,000 last year so I wasn't surprised.
 
I had Traveler's the first year with this boat - rates went up considerably and I switched to United Marine for an identical policy that was lower than my previous Traveler's policy
 
All's Well said:
I had Traveler's the first year with this boat - rates went up considerably and I switched to United Marine for an identical policy that was lower than my previous Traveler's policy
Click to expand...

Since United Marine isn't an insurance company but a broker ...... who is the carrier they linked you up with.

They work with 3 ..... Ace American, American Modern Insurance Company, and Travelers Insurance?
 
I found NBOA had the best rate for great coverage. USAA was going to take us to the cleaners with the rate their partner company was going to charge!
 
Ours is with New Hampshire Insurance, been pretty stable, but did jump about $100 this year
 
I’d be interested to know how much of this is a result of events like the Suez blockage or other larger maritime claims. Or is this a result of the influx of new boaters and low experience levels? I’ve got 10+ years of experience and we bought our first boat this year, a 2000 Supra. Our rate for agreed coverage of $20k was $550 with a $1k deductible. That includes the experience and boater safety course discounts, inland waterways only, no Great Lakes, and the trailer.
I’m a pilot as well and watch aircraft insurance. The Boeing Max8 crashes as well as other high profile helicopter crashes triggered a 40-100% increase in premiums depending on aircraft type. Many owners over 80 were sent non-renewal notices for their aircraft due to retractable gears/high performance, or not renewable regardless of aircraft due to age. Does this play out with boat type as well? Or have some boaters been required to have a captain after a certain age?
 
Little Ducky said:
Since United Marine isn't an insurance company but a broker ...... who is the carrier they linked you up with.

They work with 3 ..... Ace American, American Modern Insurance Company, and Travelers Insurance?
Click to expand...

You're correct, I didn't mention that. AMI is the insurer
 
My insurance has also been going up, and with zero marine claims ever. Current premium with New Hampshire is about $2800 / year. When I was shopping for insurance last fall the quotes ranged from $2600 - $3600.

For my prior boat, my policy through NBOA was cancelled because the insurer was exiting the recreational marine business. It seems overall there are fewer available insurers and the policy rates are going up - in part at least from more events causing damage to a lot of boats.
 
The Bill Collector said:
I'm not sure what it is called... But it's covered.
Click to expand...
BY mechanical you mean blown engine or transmission or hard ground underwater damage both etc..

Ok I am checking with Geico on my 410... was wondering with prices climbing should I raise the agreed value to reflect the market
 
You must log in or register to reply here.

Forum statistics

Threads
113,182
Messages
1,428,089
Members
61,089
Latest member
KDKING
Back
Top