boat insurance - big premium increase

[John I.]

I know there is a long running thread about insurance here , but I just received my renewal notice from Boat US/Geico that includes a whopping 58% price increase! No policy changes, no claims, etc.  Is this type of increase industry-wide or company specific? (or just me?) 

I have been with Boat US for over 30 years, but it looks like it may be time to move on.  Two months ago I decided to shop 8 policies on rental properties I have and was amazed at the savings. 

[trungsc156]

I have a SkiSafe policy up for renewal and it's the same as last year, no increase.

[Slurpee]

Same with Progressive. Basically the same when you account for flipping the boat to something a tad more pricey. 

[Mb911]

I just went through this with my 06 lsv. Quotes were 1k all the way down to 300 for the year. For my boat it’s got the 300 dollar policy 

[Steve B.]

My BoatUS is coming up. They raised my rates last year quite a bit. I will shop if they do again. My biggest issue with them is agreed replacement. Why don't they follow the boats actual value? Anyway, I'll watch.

Steve B.

[T-Roc]

We have SkiSafe, premium this year same as last year.

[minnmarker]

State Farm - no change.

[electricjohn]

Skisafe. 20 years, no policy changes, price increases, or claims.

[Leftlane]

I need to shop around - mine has gone from $500 to $1000 over the last few years.  

[John I.]

Thanks to those of you who reminded me about SkiSafe. Went to their website and discovered that I had requested a quote back in 2019, but there was no savings to be had then so I stayed with Boat US.  Today's quote from SkiSafe is very close to what I paid last year (and for many years prior) with Boat US/Geico, before their 58% premium increase this year. 

[SmoothbrainA22]

That’s crazy. I’m paying the same I paid at SkiSafe with BoatUS/Geico. Just locked it in this March. 
 

Skisafe dropped me simply because I “inquired” about a commercial insurance policy when I was planning to do wake charters.