Florida Boat Insurance Question

[JLR]

My current policy on my 74 MY runs through October '17. In the past, I had broght the boat North and South each year. Accordingly, my cruising territory had a restriction which required the boat to be North of North Carolina between June 1 and November 1. However, I anticipate leaving the boat in Jupiter for the entire season. While I will certainly let the carrier know this, I was curious how much of a hit I should expect to take to my annual premium by leaving the boat South all year. Also, if it were placed on "Port Risk" for the June 1 to November 1 period, how much of a reduction in the increase would that make. Thanks.

 

[bobk]

If your carrier is Travelers, they will probably not allow you to keep the boat in Florida unless it is stored in a hurricane proof building which is very pricy. Let us know how it works out. I'm in the same situation this year as we no longer plan to travel north.

Bobk

 

[Pascal]

It all depends on the insurer. A few years back the 70 footer I used to run started to stay jn Miami full time and the extra premium was just a few hundred dollars.

What insurers hate are absentee owners. If your home address is elsewhere you will likely have an issue.

It s all stupid anyway as in the past 10/15 years the northeast has been hit just as bad as Florida.

 

[34Hatt]

I would just call my Insurer and ask them?

 

[JLR]

Thanks for the help. Still looking for responses. And, before I call the insurer, I'd like to have the benefit of those who have been through this before. It lessens the sticker shock factor or at least, puts it in perspective.

 

[mike.s]

I had mine quote both ways. I don't remember the exact numbers but it was something like $4,000 if I was north of Cumberland Island Ga for hurricane season, and $5,500 if I left it in Fl. They also wanted paperwork showing I had a licensed captain that would take care of the boat, and a hurricane plan with a written plan from the yard it would go to if we were to have a hurricane.

Thanks for the help. Still looking for responses. And, before I call the insurer, I'd like to have the benefit of those who have been through this before. It lessens the sticker shock factor or at least, puts it in perspective.

 

[PeterK]

We went from about $3000 to $4000 for full year Florida coverage. We re a bit underinsured at $250,000. There is a significant deuctibe for hurricane loss, mitigated if we haul. They will pay 50% of hauling for a named storm.

 

[bobk]

We went from about $3000 to $4000 for full year Florida coverage. We re a bit underinsured at $250,000. There is a significant deuctibe for hurricane loss, mitigated if we haul. They will pay 50% of hauling for a named storm.

Peter, That's a very good rate. Who is your carrier?

Bobk

 

[PeterK]

We use an agent out of Virginia we met while in Bellhaven, NC. He had set up a program for KadyKrogen owners and while I don't get all the benefits, it is a Agreed Value policy. I did have a claim and they handled it well. Underwritten by Falvey.

PM me if you would like my agent's contact info.

Only reason we made a change was Lloyd's tried to give us a big increase and change to actual cash value basis. No way I was going for that!

 

[JLR]

Current carrier has quoted an 80% increase in premium to leave the boat in Jupiter for the hurricane season. Assuming they stick to that quote, it will be time to look around for another carrier.

 

[bigbill]

i am only covered from texas to alabama, if i cross into florida i have no coverage. my carrier does give me a rider on my policy for a week or 2 when we go on vacation to florida and they dont charge me. when i asked my agent what it would cost to be able to go into florida whenever i wanted, they said you dont want to pay that much to be able to go to florida a couple of times a year so i didnt go any further with quotes.

 

[tonytrakovich]

Call John Beale from Beale Marine and Casualty. 401-533-5459. I got Johns name from another member on this site. He has done a great job for me. I think being in Florida during hurricane season was about $1300 more per year.

 

[JLR]

Thanks for the suggestion.