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    Hurricane Aftermath

    I read on the Boat US site that over 60000 boats were either destroyed or damaged by the hurricanes this season. I wonder how much our insurance premiums will go up next year. Back in 2007 there was an active hurricane season then. The following year 2008 my boat insurance premium almost doubled. So, I called up my agent to ask why. He stated there were massive losses in Florida that year and the costs had to be spread around.

    I'm thinking, I live in Michigan and we do not get hurricanes here why do I have to pay for those who live in hurricane prone areas. I paid $388 for my insurance this year. Wondering if history will repeat and I will pay a lot more next year.
    Rick Grew

    1981 Carver 3007 Aft Cabin

    2004 Past Commodore
    West River Yacht & Cruising Club

    #2
    Because that's how insurance works. Large pool of people to spread the costs around. There's also insurance rates, and speaking proportionally, I am willing to bet that the rate in Florida is a lot higher than the rates in Michigan.

    Matt Train
    BOC Site Team
    Chicagoland, IL

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      #3
      Between 06 and 08, my insurance actually went down by close to 25% and has remained stable within a couple dollars ever since. I've been toying with the idea of changing companies for next year because I have found some options that I like better, but I am very hesitant due to the potential for skyrocketing premiums. The quotes I am getting for 2018 are still within a few dollars of what I pay now, but it's 2019 that I am worried about.
      Mocoondo
      2002 Bayliner 195 Capri
      Mercruiser 5.0L V8 / Alpha I Gen II
      MMSI: 338091755

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        #4
        Here in Alaska I’m paying about 1% of the agreed value per year.

        KEVIN SANDERS
        4788 LISAS WAY - SEWARD ALASKA
        www.transferswitch4less.com

        Whats the weather like on our boat
        https://www.weatherlink.com/embeddab...59665f4e4/wide


        Where are we right now? https://maps.findmespot.com/s/36S4

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          #5
          I will let you know how my policy looks. I plan to have an AHV policy when I buy in the spring.

          Anyone have any insurance suggestions, BTW?
          Matt Train
          BOC Site Team
          Chicagoland, IL

          Comment


            #6
            Glad we do not have hurricanes in Alaska, have not had a bad tidal wave since the 60's I believe.
            Pat says: DO-IT-RIGHT THE FIRST TIME!

            Bayliner 3870 "ALASKA33)
            Twin 350 GM power
            Located in Seward, AK
            Retired marine surveyor

            Comment


              #7
              Originally posted by Download_Complete View Post
              Because that's how insurance works. Large pool of people to spread the costs around. There's also insurance rates, and speaking proportionally, I am willing to bet that the rate in Florida is a lot higher than the rates in Michigan.
              I am sure that you are correct. One reason being a year round boating season.
              Rick Grew

              1981 Carver 3007 Aft Cabin

              2004 Past Commodore
              West River Yacht & Cruising Club

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