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Insurance premiums #247701
05/03/12 09:51 AM
05/03/12 09:51 AM
Joined: May 2003
Posts: 1,022
Lake Zurich, IL
MarkMT Offline OP
old hand
MarkMT  Offline OP
old hand

Joined: May 2003
Posts: 1,022
Lake Zurich, IL
Just got the latest invoice from Gowrie for 2012/13 insurance on my Falcon - a 10% increase from 2011/12 to $388. Curious what others out there are seeing.

-- Have You Seen This? --
Re: Insurance premiums [Re: MarkMT] #247704
05/03/12 11:45 AM
05/03/12 11:45 AM
Joined: Dec 2001
Posts: 5,590
Naples, FL
waterbug_wpb Offline
Carpal Tunnel
waterbug_wpb  Offline
Carpal Tunnel

Joined: Dec 2001
Posts: 5,590
Naples, FL
not enough info to determine the increase...

What agreed value and deductible on your boat?
what limit of liability?
what navigational limits?

In general, premiums are increasing for pretty much every first-party coverage (where the carrier pays you - like property, equipment, home, etc) in FL it can be up to 28% if you're in a high hazard class/area/navigational region


Jay

Re: Insurance premiums [Re: waterbug_wpb] #247708
05/03/12 12:35 PM
05/03/12 12:35 PM
Joined: Oct 2002
Posts: 606
Maryland
Kris Hathaway Offline
addict
Kris Hathaway  Offline
addict

Joined: Oct 2002
Posts: 606
Maryland
Declaration page for my Falcon 2009-2010 from Gowrie. Moved it to my Progressive Home & Auto policy for the 2010-2011 and saved about $100.
[Linked Image]

Attached Files
DeclarationPage.jpg (286 downloads)
Last edited by Kris Hathaway; 05/03/12 12:40 PM.
Re: Insurance premiums [Re: MarkMT] #247712
05/03/12 01:17 PM
05/03/12 01:17 PM
Joined: May 2003
Posts: 1,022
Lake Zurich, IL
MarkMT Offline OP
old hand
MarkMT  Offline OP
old hand

Joined: May 2003
Posts: 1,022
Lake Zurich, IL
Jay, I was just looking for an indication of what percentage increases people are seeing. But fwiw the details are similar to what Kris posted. $17k value, $850 deductable, P&I $300k, Uninsured boater $100k.

Re: Insurance premiums [Re: MarkMT] #247713
05/03/12 01:28 PM
05/03/12 01:28 PM
Joined: Dec 2001
Posts: 5,590
Naples, FL
waterbug_wpb Offline
Carpal Tunnel
waterbug_wpb  Offline
Carpal Tunnel

Joined: Dec 2001
Posts: 5,590
Naples, FL
"Not to exceed 10 miles from land"... yowch that could hurt anyone in T-500, GT-300 etc who may wander a bit offshore...

and no coverage for the trailer? would someone steal both?

And I agree that Progressive has thrown out some decent numbers lately compared to the premium increase you mentioned... Haven't tried Geico, but both of these carriers look at your credit rating and driving record...

Last edited by waterbug_wpb; 05/03/12 01:30 PM.

Jay

Re: Insurance premiums [Re: MarkMT] #247715
05/03/12 01:44 PM
05/03/12 01:44 PM
Joined: Feb 2005
Posts: 4,118
Northfield Mn
Karl_Brogger Offline
Carpal Tunnel
Karl_Brogger  Offline
Carpal Tunnel

Joined: Feb 2005
Posts: 4,118
Northfield Mn
I've got the boat insured for $25k, the trailer for another $8k, and I think my premium is around $360 a year through Progressive.


I'm boatless.
Re: Insurance premiums [Re: MarkMT] #247718
05/03/12 03:45 PM
05/03/12 03:45 PM
Joined: Jan 2009
Posts: 5,525
pgp Offline
Carpal Tunnel
pgp  Offline
Carpal Tunnel

Joined: Jan 2009
Posts: 5,525
I think my Progressive policy has a "named storm" exclusion. Everything else in Florida does!


Pete Pollard
Blade 702

'When you have a lot of things to do, it's best to get your nap out of the way first.

Re: Insurance premiums [Re: MarkMT] #247740
05/04/12 05:33 AM
05/04/12 05:33 AM
Joined: Nov 2011
Posts: 381
SE MI / NE IN
rehmbo Offline
enthusiast
rehmbo  Offline
enthusiast

Joined: Nov 2011
Posts: 381
SE MI / NE IN
I had to change providers this spring and shopped around. Progressive was the best I found @ $138/yr. (I also checked BoatUS and Gowrie)

Bit of an apples/oranges comparison - my TheMightyHobie18 & trailer is almost 25yrs old and only worth about $3000 now. I have 100k liability and a $500 deductible.

Tipping point for me was the included pet injury coverage. Actually - I just found it as I was leafing through the policy - how that got in there I'll never know.

Noticed my coastal navigation range is good for 75 miles though! When's the last time a non-spin boat ran the GT300?


Jeff R

H18, C2 USA1193
cramsailing.com
crescentsail.com
Re: Insurance premiums [Re: pgp] #247745
05/04/12 07:47 AM
05/04/12 07:47 AM
Joined: Dec 2001
Posts: 5,590
Naples, FL
waterbug_wpb Offline
Carpal Tunnel
waterbug_wpb  Offline
Carpal Tunnel

Joined: Dec 2001
Posts: 5,590
Naples, FL
Originally Posted by pgp
I think my Progressive policy has a "named storm" exclusion. Everything else in Florida does!


I hope it was cheaper that way. I presume the logic there was that you'd hook up the trailer when you're leaving town in the path of a named storm....



Jay

Re: Insurance premiums [Re: MarkMT] #247750
05/04/12 08:06 AM
05/04/12 08:06 AM
Joined: Jan 2009
Posts: 5,525
pgp Offline
Carpal Tunnel
pgp  Offline
Carpal Tunnel

Joined: Jan 2009
Posts: 5,525
I don't think the premium has changed much over the years but the storm exclusion is new.


Pete Pollard
Blade 702

'When you have a lot of things to do, it's best to get your nap out of the way first.

Re: Insurance premiums [Re: Karl_Brogger] #247754
05/04/12 09:00 AM
05/04/12 09:00 AM
Joined: Mar 2006
Posts: 1,246
Orlando, FL
tback Offline
veteran
tback  Offline
veteran

Joined: Mar 2006
Posts: 1,246
Orlando, FL
Originally Posted by Karl_Brogger
I've got the boat insured for $25k, the trailer for another $8k, and I think my premium is around $360 a year through Progressive.


Ditto,

And deductible is $125 vanishing.
Cost is $302


Attached Files

USA 777
Re: Insurance premiums [Re: MarkMT] #247764
05/04/12 01:54 PM
05/04/12 01:54 PM
Joined: Jul 2009
Posts: 53
Y
yurdle Offline
journeyman
yurdle  Offline
journeyman
Y

Joined: Jul 2009
Posts: 53
I insured my last boat through progressive for $5k for ~$200/year with a $250 ded., and it was totalled. That included the trailer, though, which was undamaged and customized, and that meant that they would keep the trailer (presumably goes to sit in a salvage yard.) if I took the payout. I bought the totalled boat and trailer back from them for $600 IIRC.

My next boat is insured for just under twice as much, with the same deductible, and the premium as actually LESS, at ~$150/year.

These also gave me about $85/year multi-policy discount off of my auto policy.

I think the premium discrepancy was due to ordering the first policy online which included roadside assistance and a few other things that don't apply to me, and I called for the second policy and only got the specific coverages I wanted.

Re: Insurance premiums [Re: MarkMT] #247767
05/04/12 03:24 PM
05/04/12 03:24 PM
Joined: Feb 2005
Posts: 4,118
Northfield Mn
Karl_Brogger Offline
Carpal Tunnel
Karl_Brogger  Offline
Carpal Tunnel

Joined: Feb 2005
Posts: 4,118
Northfield Mn
Insurance is a strange business. Explain to me how the multi-vehicle discount works? I added a 2nd pickup to my policy, (just liability), and my premium went down $240 a year. Go figure! Maybe it'd be a different story if I had comprehensive and collision on the 2nd pickup, but still, the liability is there.





I'm boatless.
Re: Insurance premiums [Re: Karl_Brogger] #247770
05/04/12 04:58 PM
05/04/12 04:58 PM
Joined: Jun 2001
Posts: 12,310
South Carolina
Jake Offline
Carpal Tunnel
Jake  Offline
Carpal Tunnel

Joined: Jun 2001
Posts: 12,310
South Carolina
Originally Posted by Karl_Brogger
Insurance is a strange business. Explain to me how the multi-vehicle discount works? I added a 2nd pickup to my policy, (just liability), and my premium went down $240 a year. Go figure! Maybe it'd be a different story if I had comprehensive and collision on the 2nd pickup, but still, the liability is there.





Because chances are you can't drive both vehicles at once?


Jake Kohl
Re: Insurance premiums [Re: Jake] #247772
05/04/12 05:21 PM
05/04/12 05:21 PM
Joined: Sep 2002
Posts: 3,222
Roanoke Island ,N.C.
Team_Cat_Fever Offline
Carpal Tunnel
Team_Cat_Fever  Offline
Carpal Tunnel

Joined: Sep 2002
Posts: 3,222
Roanoke Island ,N.C.
Originally Posted by Jake
Originally Posted by Karl_Brogger
Insurance is a strange business. Explain to me how the multi-vehicle discount works? I added a 2nd pickup to my policy, (just liability), and my premium went down $240 a year. Go figure! Maybe it'd be a different story if I had comprehensive and collision on the 2nd pickup, but still, the liability is there.





Because chances are you can't drive both vehicles at once?


Karl, That Jake fella is smart.You should listen up, he even used small words for you.


"I said, now, I said ,pay attention boy!"

The cure for anything is salt water - sweat, tears, or the sea
Isak Dinesen
If a man is to be obsessed by something.... I suppose a boat is as good as anything... perhaps a bit better than most.
E. B. White
Re: Insurance premiums [Re: Jake] #247905
05/07/12 12:48 PM
05/07/12 12:48 PM
Joined: Dec 2001
Posts: 5,590
Naples, FL
waterbug_wpb Offline
Carpal Tunnel
waterbug_wpb  Offline
Carpal Tunnel

Joined: Dec 2001
Posts: 5,590
Naples, FL
Originally Posted by Jake
Originally Posted by Karl_Brogger
Insurance is a strange business. Explain to me how the multi-vehicle discount works? I added a 2nd pickup to my policy, (just liability), and my premium went down $240 a year. Go figure! Maybe it'd be a different story if I had comprehensive and collision on the 2nd pickup, but still, the liability is there.





Because chances are you can't drive both vehicles at once?


Hey, I need some help in my office. You got the brains for it....
How's your pole dancing technique?


More cars than drivers is a GOOD thing. Teenage drivers, however, is not such a good thing.

Last edited by waterbug_wpb; 05/07/12 12:48 PM.

Jay

Re: Insurance premiums [Re: waterbug_wpb] #247906
05/07/12 12:53 PM
05/07/12 12:53 PM
Joined: Jun 2001
Posts: 12,310
South Carolina
Jake Offline
Carpal Tunnel
Jake  Offline
Carpal Tunnel

Joined: Jun 2001
Posts: 12,310
South Carolina
Originally Posted by waterbug_wpb
Originally Posted by Jake
Originally Posted by Karl_Brogger
Insurance is a strange business. Explain to me how the multi-vehicle discount works? I added a 2nd pickup to my policy, (just liability), and my premium went down $240 a year. Go figure! Maybe it'd be a different story if I had comprehensive and collision on the 2nd pickup, but still, the liability is there.





Because chances are you can't drive both vehicles at once?


Hey, I need some help in my office. You got the brains for it....
How's your pole dancing technique?


More cars than drivers is a GOOD thing. Teenage drivers, however, is not such a good thing.


The technique is there - it's probably just not something you would want to see though.


Jake Kohl
Re: Insurance premiums [Re: MarkMT] #247912
05/07/12 02:29 PM
05/07/12 02:29 PM
Joined: Feb 2005
Posts: 4,118
Northfield Mn
Karl_Brogger Offline
Carpal Tunnel
Karl_Brogger  Offline
Carpal Tunnel

Joined: Feb 2005
Posts: 4,118
Northfield Mn
No, I can't drive all three vehicles at once, but I can loan two of them out and be driving around in the third. Still though, less money for two vehicles? My bike is on its own policy.


Thanks for filling Jake in Todd. Them big 1s are tuf 4 me.

Last edited by Karl_Brogger; 05/07/12 02:29 PM.

I'm boatless.
Re: Insurance premiums [Re: Karl_Brogger] #247949
05/08/12 12:10 PM
05/08/12 12:10 PM
Joined: Dec 2001
Posts: 5,590
Naples, FL
waterbug_wpb Offline
Carpal Tunnel
waterbug_wpb  Offline
Carpal Tunnel

Joined: Dec 2001
Posts: 5,590
Naples, FL
Originally Posted by Karl_Brogger
but I can loan two of them out and be driving around in the third.


Yeah, you may want to check your policy about that... I know a few carriers that state if the drivers aren't listed on the policy, there's no coverage...

Remember two things about insurance in general:
- the devil is in the endorsements
- you often get what you pay for

And Jake, my pole dance is only legal in two states, and this ain't one of 'em


Jay

Re: Insurance premiums [Re: MarkMT] #247970
05/08/12 04:19 PM
05/08/12 04:19 PM
Joined: Oct 2011
Posts: 217
Palm Harbor, FL
daniel_t Offline
enthusiast
daniel_t  Offline
enthusiast

Joined: Oct 2011
Posts: 217
Palm Harbor, FL
Insurance is like casino gambling... The house always wins.


Daniel T.
Taipan F16 - USA 213
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