"Harry Krause" wrote in message
. ..
JimH wrote:
"NOYB" wrote in message
.net...
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.





Your house insurance is next.

And I would think all those high dollar houses near and on the water are
going to take a beating on their market value because of these things
related to insurance and insurability.


Wait until all those interest-only mortgages start coming due...that
market is going to collapse and blow wide open.


Not likely for the high-end market (over $1 million) because 60% of those
buyers paid cash (or would have paid cash if interest rates weren't at 4.5%
two years ago).

But the entry-level and mid-level market could get hammered. Sales this
year in June are about 1/3 of last years sales. The median price for the
year fell 6%, but the median price in June and July actually increased.

Naples is not a normal market. Some houses went up 80-100% in the past 5
years. A 10-15% correction isn't going to hurt anybody who bought more than
a year ago.