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#575888 - 07/26/22 12:09 AM Insurance increase  
Joined: Jun 2004
Posts: 9,128
Silverbullet Offline
Admiral
Silverbullet  Offline
Admiral

Joined: Jun 2004
Posts: 9,128
Boise, ID
Well, got my bill for boat insurance and it seems that being a good and loyal customer with no claims netted me a nice 33% increase YOY.

My main issue with moving is hits to the credit report.

But, did anyone else see large increases in boat insurance this year with no changes to coverage?


James
2002 Cobalt 226 VP 8.1GIDP
2007 Chevy 2500HD Crew Cab Duramax
1988 Suburban 3/4 Ton
2000 Subaru Forester


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#575889 - 07/26/22 04:13 AM Re: Insurance increase [Re: Silverbullet]  
Joined: Aug 2005
Posts: 2,570
tpenfield Offline
Admiral
tpenfield  Offline
Admiral

Joined: Aug 2005
Posts: 2,570
Cape Cod, MA
James -

I hope all is well. My Admiral works in insurance. Everyone is getting increases this year, it seems. I am not sure if the losses in general have been greater recently or what the situation is.

Do you even know if you can get a better rate by shopping it around?


Regards, Ted

Cruisers Yachts Sport Series 338 Bowrider
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#575890 - 07/26/22 08:00 AM Re: Insurance increase [Re: Silverbullet]  
Joined: Oct 2003
Posts: 8,245
captkevin Offline
Admiral
captkevin  Offline
Admiral

Joined: Oct 2003
Posts: 8,245
Chicago, IL
It seems that anymore the only way to keep the rates under control is to change companies every couple years. We have had to go that route several times. No claims ever. Hate to imagine if we had any claims what would have happened. About 8 years ago we were refinancing our house & guy at bank was reviewing documents & said we were way over paying on home insurance. Had been with same company 10 years. Shopped it around & was able to drop it $600 a year. So much for loyalty.

Last edited by captkevin; 07/26/22 10:00 AM.

2004 Rinker 232
2010 Dodge Ram Crew Cab Laramie 4x4
2021 Yamaha FX Svho
#575891 - 07/26/22 10:49 AM Re: Insurance increase [Re: Silverbullet]  
Joined: Jan 2003
Posts: 4,033
Justification Offline
Admiral
Justification  Offline
Admiral

Joined: Jan 2003
Posts: 4,033
Fruit Heights, Utah
Been with USAA on the boat policy since I bought the current boat 19 years ago. IIRC my rate hasn't changed in that time, while the boat in theory should have dropped in value, while replacement costs have gone to points beyond my comprehension. Haven't shopped around as I've been happy with their automobile coverage, but like everyone else posted we have never filed a boat claim.

On the other hand I got my Property tax prenotification yesterday. No surprise that the the bill went up, what the surprise was that the bill will be up 20% over last year.


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#575892 - 07/26/22 12:59 PM Re: Insurance increase [Re: tpenfield]  
Joined: Jun 2004
Posts: 9,128
Silverbullet Offline
Admiral
Silverbullet  Offline
Admiral

Joined: Jun 2004
Posts: 9,128
Boise, ID
Originally Posted by tpenfield
James -

I hope all is well. My Admiral works in insurance. Everyone is getting increases this year, it seems. I am not sure if the losses in general have been greater recently or what the situation is.

Do you even know if you can get a better rate by shopping it around?


I don’t know if I can save money shopping around which is frustrating. That’s why I asked if everyone is seeing increases or if I should look elsewhere. I dislike pulls on my credit so I am careful on exploring things.

Last edited by Silverbullet; 07/26/22 01:00 PM.

James
2002 Cobalt 226 VP 8.1GIDP
2007 Chevy 2500HD Crew Cab Duramax
1988 Suburban 3/4 Ton
2000 Subaru Forester


#575893 - 07/27/22 03:46 AM Re: Insurance increase [Re: Silverbullet]  
Joined: Feb 2005
Posts: 1,973
jtheile Offline
Admiral
jtheile  Offline
Admiral

Joined: Feb 2005
Posts: 1,973
North Ridgeville, Ohio
Insurance companies looking at your credit is a soft pull that will not affect your credit score. Hard pulls(applying for credit) are what affects credit.


Joe
Four Winns 225 Sundowner
#575894 - 07/27/22 09:30 AM Re: Insurance increase [Re: Silverbullet]  
Joined: Sep 2003
Posts: 7,391
MarkHB Offline
Dressed for dinner
MarkHB  Offline
Dressed for dinner
Admiral

Joined: Sep 2003
Posts: 7,391
Norris Lake, TN
My insurance for the boat and 2 PWC went from 436 last year to 477 this year.


24' Monterey Explorer
Honda PWC
http://www.picturetrail.com/markhb

Golf!! Waste of a good gun range.
#575895 - 07/27/22 11:02 PM Re: Insurance increase [Re: Silverbullet]  
Joined: Feb 2003
Posts: 11,980
Frantically Relaxing Offline
Admiral
Frantically Relaxing  Offline
Admiral

Joined: Feb 2003
Posts: 11,980
I'm insuring 2 Mustang GT convertibles, the 2002 Ford F-250 pickup, 2004 Chevy Venture van, the SkipperLiner, the Regal, the Sun Tracker and even the Sea Ray, the Harley, the Goldwing and the big Diesel motorhome. I pay all these monthly.
I'm also insuring the house, including earthquake, 2 mobile homes, and the business proper, I pay those annually.

The yearly's haven't gone up much if at all, as to the monthlies, just checked some old emails:
Jan 2021 bill: $386
July 2021 bill: $371
Jan 2022 bill: $364
This July bill: $374

No complaints. About 15 years ago Allstate crapped backwards on me. My parents had always used State Farm, clear back before I was born. Their rep was my 'uncle in law'. He retired and sold his clients to a young guy, also about 15 years ago. Since I'd taken over my parents finances about then, and the house was already with State Farm I moved all our stuff to state farm. About 3 minutes after the change, a roofer knocked on the door, and told me our shingles needed changing out (yeah they did!), and those on the roof were part of some batch insurance companies would replace. Called my agent, lo and behold the roofer guy wasn't lying. State Farm covered the $7700 re-shingle repair, my only ever State Farm claim. FWIW, in the 15 years since, my homeowners premiums to date haven't covered even half that $7700. Never got a *significant* price hike, to this day.

But then, I AM a pretty good customer wink


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