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

"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.


Could be. Of course, for 40 years down here in Naples, there hasn't been a
problem. Two bad years, and the insurance industry panics and starts raping
folks. Perhaps they should have been saving the money they collected on
those high premiums for a rainy day.

"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.

"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.

"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.


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.

" 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.







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.

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. What is a better example of interstate
commerce than an insurance company headquartered in Hartford, CT selling an
insurance product to a guy down in Florida?

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.

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

"Harry Krause" wrote in message
. ..
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.


A 35' trailer? Nope...not for longer than 6 hours due to code enforcement.

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

That's pricless. Gore the right ox, and suddenly even the staunchest of
conservatives is calling for more government regulation of private
industry. :-)

All the comparisons about terrorist threats being greater in NY,
Seattle, Chicago or what not don't have anything to do with why your
boat insurance is so high and whether or not it should be so high based
on the risk you choose to run by living where hurricanes are
commonplace. Your boat insurance premuims aren't underwriting losses
suffered by terrorist attack in large cities, and if there is some sort
of insurance premium one can pay to be insured against loss by
terrorism- none of that money if going into a fund to buy new boats for
Floridians who get smashed up by a hurricane.

The insurance companies should not be forced to sell you cheap
insurance, or even accept ridiculous levels of risk if they don't want
to. Falls under the category of free enterprise, don't you know.

I'd like to buy insurance against getting one year older next birthday-
but there isn't anybody willing to write it at any price because it is
a certainty that if I live to my next birthday I will indeed be a year
older. Rather than call for government regulation forcing people to
sell policies that don't make any sense, I think I'll just adapt to
getting older.

Seriously, it's a darn shame that you guys are having trouble buying
boat insurance down there- but no company should be forced to make
suicidal business decisions just to make boating more convenient in the
hurricane zone.

"NOYB" wrote in message
.net...

"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.





Store it some place further away. If it is $100 / month, and that seems
high, as I pay $53 / month for a 25' slot in California, land of high
prices. You may save a lot more than that on insurance. And if it is 10'6"
wide, how many tickets will be written during an evacuation? And you can
rent a truck to tow it, or hire a mover for it.

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

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

That's pricless. Gore the right ox, and suddenly even the staunchest of
conservatives is calling for more government regulation of private
industry. :-)

All the comparisons about terrorist threats being greater in NY,
Seattle, Chicago or what not don't have anything to do with why your
boat insurance is so high and whether or not it should be so high based
on the risk you choose to run by living where hurricanes are
commonplace. Your boat insurance premuims aren't underwriting losses
suffered by terrorist attack in large cities, and if there is some sort
of insurance premium one can pay to be insured against loss by
terrorism- none of that money if going into a fund to buy new boats for
Floridians who get smashed up by a hurricane.

The insurance companies should not be forced to sell you cheap
insurance, or even accept ridiculous levels of risk if they don't want
to. Falls under the category of free enterprise, don't you know.

I'd like to buy insurance against getting one year older next birthday-
but there isn't anybody willing to write it at any price because it is
a certainty that if I live to my next birthday I will indeed be a year
older. Rather than call for government regulation forcing people to
sell policies that don't make any sense, I think I'll just adapt to
getting older.

Seriously, it's a darn shame that you guys are having trouble buying
boat insurance down there- but no company should be forced to make
suicidal business decisions just to make boating more convenient in the
hurricane zone.


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.

"NOYB" wrote in message
.net...


Could be. Of course, for 40 years down here in Naples, there hasn't been
a problem. Two bad years, and the insurance industry panics and starts
raping folks. Perhaps they should have been saving the money they
collected on those high premiums for a rainy day.


Florida is a big state. I remember reading that the area in which we had
property (Jupiter) had not had a direct hurricane hit in over 100 years at
the time we bought.
Three years following our purchase, we got direct or near direct hits three
times.

Statistically, we have as high or higher probability of getting a hurricane
up here in MA this year as Jupiter does.

Eisboch