Trouble Finding an Insurance Company

captgene · Post by **captgene** » Tue Sep 15, 2009 5:20 am

Got my 2010 bill yesterday from Boat Useless. $2552 and this is the first time in 5 yrs. there was no increase. I've stuck it out with these guys because I need the Bahama coverage that most others won't offer. Nobody will just give you liability. I tried to reduce the value of the boat, but they would not go lower than $70K. Even though I own it. And when I started shopping around everybody wanted a new out of water survey. throw that in , and my savings were about zero. So in Fl. we are stuck with whatever ... Gene Dugan Boca Raton, Fl. "Nauti Marie" 1989 33 FBC 2007 8.1 Crusaders

lwrenn · Post by **lwrenn** » Tue Sep 15, 2009 1:47 pm

The insurance is basing there value on comps in the market. In there eyes that's what the boat is worth. Stated value insurance is more expensive but worth the extra dollars. You may be paying upwards to 3 to 5k per year.