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waterbound
Posts: 140
Location: Carolina Beach
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Mon Mar 15, 2021 5:55 am
I'm taking a shot that this topic will get noticed. it does not look like it gets much attention so I'm willing to take the lead, Geico Boat US and others are getting way out of hand for insurance costs. My insurance bill is higher than my fuel bill on an annual basis and Im a fishing boat.... Any one have any suggestions.  
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KatfishKayak
Posts: 395
Location: Duplin County, NC
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Mon Mar 15, 2021 6:57 am
Just curious, because I'm with Geico too, and, so far, I've found them aligned with or slightly lower than the other quotes I got. Then again, I haven't got this year's bill.

Have you spoken to a Geico agent about the cost increase? There are a lot of fish in this water, and with the huge influx of boat sales the past year, I'd expect them to be getting more competitive, not less.
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Capt_Dave
Posts: 12286
Location: Cape Fear, NC
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Mon Mar 15, 2021 7:24 am
Adam Myers with Maritime Insurance is the best in the biz. It is not always about $$ in boat insurance. It is having someone who knows the deal in protecting you and your boat. ( especially true for charter boats ).

Adam is da guy!
https://maritimeinsuranceinternational.com/team/adam-meyer/

Dave
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Carolina Beach Fishing Charters
  

Last edited by Capt_Dave on Mon Mar 15, 2021 10:56 am; edited 1 time in total
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Bilzo
Posts: 2318
Location: Pittsboro, NC
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Mon Mar 15, 2021 7:38 am
Marine insurance may not be the same as homeowners but I got a stark increase in my policy cost from Liberty mutual a few years ago after we'd made a claim for a robbery with some damage upon entrance. Not only did the barely pay because we were unaware we needed a jewelry rider on the policy, they then jacked out premium up 3 years later and said it had nothing to do with that one event, but "NC overall had a bad year" (was the reason)

We lost $8K in jewelry, had $400 in damage. They paid us like $2K. Factor in the $500 deductible and it was barely worth making the claim (had I known how the jewelry policy was, I wouldn't have bothered).

We were paying about $1000 a year I think. Had them for 14 years. They were still up over $12K on us for the life of the policy. I told them they weren't the only people out there and we'd like to not go through the hassle of switching but I wasn't going to pay a policy that was so high that the state of NC required them to get me to sign a form acknowledging they were gouging me. They basically told me to go kick rocks and get a better deal elsewhere but they weren't budging. So I did.

I'm guessing the big name insurance people, regardless of sector, are all going to function like that.
  
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waterbound
Posts: 140
Location: Carolina Beach
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Mon Mar 15, 2021 8:54 am
Thanks for the feedback. I will be reaching out for sure. I am told it is because I have multiple motors on the boat and they classify me as a go fast Boat, I would agree that someone who knows the business should be able to work through that. They did not take in to account my experience as a master captain or any other details just focused on the length and motors. I'm sure I am not the only one so I will be sure to post the results. Thanks again...  
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Capt_Dave
Posts: 12286
Location: Cape Fear, NC
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Mon Mar 15, 2021 10:56 am
His contact info is here...
https://maritimeinsuranceinternational.com/team/adam-meyer/
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Carolina Beach Fishing Charters
  
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PirateJuan
Posts: 299
Location: Wilmington, NC
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Fri Mar 19, 2021 12:25 pm
I'll have to shop that out. I've been using Gallagher Charter Lakes here in town for years now. It's pretty cheap for my Scout, which admittedly isn't a big boat and no spring chicken. Never filed a claim, so can't speak to how they'd handle one.

EDIT: Should mention that it's a Travelers policy through that agent.
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Toad
Posts: 717
Location: Raleigh/Atlantic Beach
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Mon Mar 22, 2021 8:46 pm
waterbound wrote:
I'm taking a shot that this topic will get noticed. it does not look like it gets much attention so I'm willing to take the lead, Geico Boat US and others are getting way out of hand for insurance costs. My insurance bill is higher than my fuel bill on an annual basis and Im a fishing boat.... Any one have any suggestions.

Check out Latitude 34 Marine Insurance in Morehead, City. 252-515-9090, 252-301 3232.
I will never understand why anyone would buy their boat insurance from a car insurance company,
Good luck,
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Dlong
Posts: 10
Location: Wilmington
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Tue Apr 06, 2021 5:42 pm
I have USAA but they did an underwriting policy through progressive, best part is I am covered for towing or needs by anyone that would rescue - covers up to 200NM miles if remember correctly  
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wampler24
Posts: 718
Location: Greensboro, NC
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Tue Apr 06, 2021 7:23 pm
I have allstate. I have my car, boat and house with them so I guess I get a slight deal. It's not the lowest quote I got but it was within 150 per year so I went with them to bundle.

Having said this, I am not opposed to others or shopping around. I have had great luck with them and claims though so it's hard for me to switch. I have had 22K damage to my truck from a deer, 8k of damage to my wife's new car from a deer (only 2 weeks since buying) and 2 claims on the boat. They have not gone up on me any and all claims were quick and painless. The boat was repaired and paid for in about 2 weeks the first incident and about 3 weeks for the trailer damage and busted axles on the 2nd.

I can't complain but I am sure there are other, cheaper options. i just like that 24 hours a day, 7 days a week I get someone on the phone. They have not let me down.... Yet.....

I have however heard GREAT things about Adam that Dave mentioned.
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Fishermans Post

insurance recommendations - SaltwaterCentral.Com