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It's not fuel prices that's going to kill the boat market
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. |
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