On Thu, 24 Aug 2006 01:30:56 +0000, NOYB wrote:


I'd like to see the insurance industry regulated the way that public
utilities like power companies are regulated.

As in many states, Florida does regulate insurance companies.

"Insurance companies are private businesses that must make a profit to
survive and fulfill their ability to pay claims filed by insureds. It is a
highly regulated, carefully controlled profit, however. Rates for nearly
all lines of insurance must be approved by the Office of Insurance
Regulation. The maximum allowable rate of return is generally 5 percent,
with 2 to 3 percent returns more typical on an actual basis. Excess profit
laws exist in several lines of insurance requiring automatic rate
rollbacks when the maximum approved profit level is exceeded. They have
been rarely activated."

From:

http://www.flains.org/public/ht_irate.html-ssi

"NOYB" wrote in message
k.net...

" JimH" not telling you @ pffftt.com wrote in message
. ..

"NOYB" wrote in message
.net...

"Chuck Gould" wrote in message
ups.com...

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.

Yup. Sounds fair. Just like the rest of the country's tax dollars
shouldn't have to pay for security against terrorist attacks in cities
like NY, Seattle, LA, Chicago, etc.


There is no comparison between people choosing to live in hurricane alley
and folks living in large cities that terrorists chose to target.


Sure there is. I have a much lower chance of being the victim of a
terrorist attack than someone living in NY...and NY'ers have a lower
chance of getting hit by a Cat 3 or higher hurricane. And guess what?
The risks are directly related to where we each chose to live.




And folks living in Hawaii have a lower chance of seeing snow in January
than those living in Alaska. And guess what, the risks are directly related
to where we choose to live.

So what does snow have to do with insurance? Nothing, just like insurance
has nothing to do with taxes.

BTW: How many terrorist attacks were there in New York last year? How many
hurricanes were there in Florida last year? How about 2004? 2003? 2002?

Hmmmm, and I thought the odds were the same.







Nor should our tax dollars pay for the cleanup in New Orleans.




Don't complain about your high insurance costs or your being uninsurable.
And don't expect taxpayers to pay the bill so you can build a new house
after your is destroyed by a hurricane. *You* chose to purchase a house
in hurricane alley. You knew the risks and you are now paying the price.

I don't mind paying the price. It's not the cost that I'm complaining
about. It's the fact that there is no insurance company willing to write
a new policy for a boat over 30' long valued at more than
$100,000...unless that boat is a 2002 or newer.


Insurance companies are not in the business of losing money nor should they
be forced to. Don't like it? Move. Otherwise accept the consequences of
your choice to live in hurricane alley.

Harry Krause wrote:
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.




More proof that south Florida is not fit for human habitation.

Yep, that's what they get for living in that skeeter infested hellhole!

Harry Krause wrote:
NOYB wrote:
"Shortwave Sportfishing" wrote in message
...
On Wed, 23 Aug 2006 20:26:02 GMT, "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)
Hmmmm. So here's a scenario for you.

I have a custom made trailer for my Contender which is used to haul
the boat twice a season for a wash and wax. It also doubles as a
winter storage trailer - just put it on, park it and shrink wrap.

The only problem is if I wanted to take it from the yard, I would need
a special permit because it's over-width for the highway. So I
couldn't just pick it up and move it away from the coast if a storm
approached or whatever.

If that boat was a, say 2000, would it be covered?

No. A 2000 wouldn't be covered unless it was valued under $100,000. A 2002
would be covered, but the premium for a $100,000 boat is nearly $5000/year.


I have no place to store a trailer unless I'm willing to pay $150/month
storage fee. Even if I pulled the boat, where would I put it? And I'd need
something that could tow upwards of 12,000 lbs that is 10'6" wide.





No room on the lot of that million dollar house to stash a boat trailer?

Incredible.

Bwaaahaa!! He got hosed in the housing bubble. Along with an interest
only loan!

Gene wrote:
On Thu, 24 Aug 2006 06:40:35 GMT, "Calif Bill"
wrote:

Gas may also do it. Took the boat out today, and filled up at $2.92 gallon
at Costco and put $99 in the boat. $3.19 for diesel and $75 for that this
evening.


You may want to look a bit further for the real problem:

as of yesterday, 87 octane at Sam's and Costco was $2.61
--


Anybody notice that as of today, the amount of oil coming out of Prudoe
Bay has been cut in half AGAIN? Sure seems a tad odd that when the
price per barrel starts coming down, a new problem arises to push it
back up!

http://edition.cnn.com/2006/BUSINESS...p.pipeline.ap/

On 24 Aug 2006 07:13:21 -0700, "basskisser" wrote:


Gene wrote:
On Thu, 24 Aug 2006 06:40:35 GMT, "Calif Bill"
wrote:

Gas may also do it. Took the boat out today, and filled up at $2.92 gallon
at Costco and put $99 in the boat. $3.19 for diesel and $75 for that this
evening.


You may want to look a bit further for the real problem:

as of yesterday, 87 octane at Sam's and Costco was $2.61
--


Anybody notice that as of today, the amount of oil coming out of Prudoe
Bay has been cut in half AGAIN? Sure seems a tad odd that when the
price per barrel starts coming down, a new problem arises to push it
back up!

http://edition.cnn.com/2006/BUSINESS...p.pipeline.ap/

Well, I wasn't going boating this week anyway. By next week it'll be fixed
and the price will be back to normal.
--
******************************************
***** Hope your day is great! *****
******************************************

John

JohnH wrote:
On 24 Aug 2006 07:13:21 -0700, "basskisser" wrote:


Gene wrote:
On Thu, 24 Aug 2006 06:40:35 GMT, "Calif Bill"
wrote:

Gas may also do it. Took the boat out today, and filled up at $2.92 gallon
at Costco and put $99 in the boat. $3.19 for diesel and $75 for that this
evening.


You may want to look a bit further for the real problem:

as of yesterday, 87 octane at Sam's and Costco was $2.61
--


Anybody notice that as of today, the amount of oil coming out of Prudoe
Bay has been cut in half AGAIN? Sure seems a tad odd that when the
price per barrel starts coming down, a new problem arises to push it
back up!

http://edition.cnn.com/2006/BUSINESS...p.pipeline.ap/

Well, I wasn't going boating this week anyway. By next week it'll be fixed
and the price will be back to normal.
--
So, how come you're not out there fishing??

Don't complain about your high insurance costs or your being uninsurable.
And don't expect taxpayers to pay the bill so you can build a new house
after your is destroyed by a hurricane. *You* chose to purchase a house
in hurricane alley. You knew the risks and you are now paying the price.


NOYB wrote:
I don't mind paying the price. It's not the cost that I'm complaining
about. It's the fact that there is no insurance company willing to write a
new policy for a boat over 30' long valued at more than $100,000...unless
that boat is a 2002 or newer.


Isn't that complaining about cost? All you have to do is go
buy a new boat. If you pre-2002 boat is truly perfect, then
all you have to do is get a custom builder to crank out an
exact replica. Money doesn't solve everything, but it can
easily solve problems like that.



The problem with insurance companies is that there is no federal oversight
(thanks to the McCarron-Ferguson Act), and they're not subject to
anti-trust legislation. It's the only industry that has that has the benefit
of such an unlevel playing field. Congress has the Constitutional authority
to regulate interstate commerce.

And not so very long ago, the Republican battle cry was
"Deregulation!" So these things come & go in cycles.



The entire problem spills over directly to health insurance too.
Corporations, labor unions, and the US government can buy their insurance in
a state that has affordable premiums and cheap coverage, and provide that
coverage for members no matter where they live. Small businesses have no
such luxury, because Senate Democrats have managed to stall a vote on the
Small Business Health Fairness Act.


That's right, I knew you'd find a way to blame the
Democrats. But hey, as long as *you* do it, it's not
partisan hackery!

I'd like to see the insurance industry regulated the way that public
utilities like power companies are regulated.


As I've said before, NOYB, you're not really a conservative.
You're a socialist dressed up to party in a theocratic
dictatorship suit.

Regards
Doug King

NOYB wrote:

I'd like to see the insurance industry regulated the way that public
utilities like power companies are regulated.

Whoa, what happened to the republican mantra of a few years ago, when
you righties wanted every industry deregulated?

Gene Kearns wrote in message
...
On Thu, 24 Aug 2006 06:40:35 GMT, "Calif Bill"
wrote:

Gas may also do it. Took the boat out today, and filled up at $2.92
gallon
at Costco and put $99 in the boat. $3.19 for diesel and $75 for that this
evening.


You may want to look a bit further for the real problem:

as of yesterday, 87 octane at Sam's and Costco was $2.61

Damn, that's cheap. It's $3.01 down here.

And $3.79 on the water.