[C320-list] Boat insurance question

[Harry Juris]

I received my renewal recently. Both the deductible and premium went down in
spite of the fact that the cruising limits increased from Inland Waters
(Hudson River - North of the George Washington Bridge) to coastal waters of
the US and Canada. 

They did not exclude Named storms. There is a special Named Storm Deductible
of $1,000 or 5% of the Hull and Equipment coverage. That used to apply only
to the Gulf Coast but now applies no matter where the boat is. Given the
devastating losses in the North East from Sandy that seems to be logical
from an underwriting standpoint. I know several people who winter down south
but whose insurance requires they come north during hurricane season or they
will lose all coverage,

By the way. There is another very logical reason that Boat US switched to
GEICI:  Both Boat US and GEICO are owned by Warren Buffet's company
Berkshire Hathaway.

Harry Juris
"Polar Star"
Nyack, NY

-----Original Message-----
From: C320-list [mailto:c320-list-bounces at lists.catalina320.com] On Behalf
Of Mark Seyler
Sent: Friday, May 19, 2017 7:29 PM
To: C320-List at Catalina320.com
Subject: Re: [C320-list] Boat insurance question

If Boat US switched to GEICO, check your policy exclusions carefully. The
last time I got a quote directly from GEICO (admittedly a few years ago),
they excluded any coverage for named storms! Here in New Orleans I know too
many people who lost boats in Katrina to ever accept a policy that excludes
named storms. 
Maybe Boat US had the clout to negotiate better coverage. But check your
policy to be sure.

Mark Seyler
Sent from my iPhone

On May 19, 2017, at 4:37 PM, Jerry Clayton <jsea at prodigy.net> wrote:

> Allan,
> 
> Just received a bill in the mail today.
> They want the check made payable to Boat U.S. Marine Insurance.  Return
envelope address is GEICO Marine Insurance PO Box 9998, Alexandria,  Va
22304.
> Envelope the bill came in is Boat U.S. Marine Insurance Program, 880 S
Pickett, Alexandria,  Va 22303.
> I have been with Boat U.S. Since 2004 and the checks always are to them
even though the companies have changed over the years. 
> With GEICO the premium dropped $384 for the same coverage from the company
Boat U.S. used last year and they still have declining deductible if you
remain claim free.
> It appears to me that Boat U.S. requests bids from companies then 
> decides which company offers the best deals for their customers and uses
them. They are in a position to send a insurance company a large block of
business and we benefit from the company making a lower bid to get all that
business.
> I may be wrong but that's what it looks like to me. 
> 
> Regards,
> 
> Jerry Clayton
> #988 (2004)