NOYB wrote:
It's insurance! Or lack thereof. In Florida, it is now impossible to
insure a boat over 30' long valued at more than $100,000 if the boat:

a) doesn't have a trailer

and/or

b) is more than 5 model years old (2001 and older are uninsurable if they're
over 30 feet and valued at more than $100,000)


I just applied for quotes from NBOA, Boater's Choice, Progressive, and 2 or
three others. All said the same thing: no dice.

Progressive was willing to write my boat for $100,000 coverage (it's valued
at $113k though) to the tune of $4500/year.

I'm with Boat/US, and insured for $113,000 for just under $3000/year. I was
looking to save some money, and it's apparent that that isn't going to
happen.


Read this thread on thehulltruth.com to understand how bad it is in Florida
now:

http://www.thehulltruth.com/forums/t...114956&start=1


Guys cannot get financing on boats because they can't insure them.


Sorry to hear about your insurance difficulties. Nothing similar is
happening in this area of the country- so I'm willing to bet it has a
lot to do with the $$$$$$$$$ in losses the boat insurance companies
suffer whenever your several hurricanes per year blow through.
Sort of like trying to buy fire insurance on a house 50-feet from a
blast furnace.

Those rates sound astronomical to insure a $100k boat, but it makes
some sense to evaluate local risk rather than just "average" it out
against everybody in the country- whether they live in a hurricane zone
or not. Kind of like the 450-pound diabetic trying to buy medical
insurance- it wouldn't be fair to the 190-pound jogger to just average
the two of them together and charge them both the same rate as one is
many times more likely to suffer an expensive incident than the other.