Boat Insurance is being canceled

I'm dealing with similar challanges and been trying to get a decent policy for a year now. My hull is similar vintage to yours - a 1994. I just got quoted $200 less than your quote with around 5x the insured value with a 1% deductible. Did your agent redact the quote or you did?

I've heard that Geico will still quote but only directly. You may want to ask them.

It will be interesting to what the difference is.

I needed offshore racing sailboat insurance and no companies would take it. I tried Geico through Boat US and they took it gladly.
My powerboat is up for renewal so I tried Geico. Boat is 2009 with a value of low 400K zone. Geico would only write it for $167,000. unless I had a full survey with a higher stated value. I paid 380 for it 15 months ago and did a 80k refit.
Let's face it. Insurance business is crooked.

Let’s face it most business is unscrupulous or crooked.
I just had a friend with a car accident (everyone is physically fine) offender crossed the double yellow on a two lane at night. Her Hyundai is likely totaled. Get this, before she has even had her insurance company view the damages or get a single quote, Progressive ( the offenders provider), (thanks Flo) sent her a letter explaining her $$4,000 would be electronically deposited as soon as she got them the account number to settle the claim. Buggers!

Memory serves that I am paying about $4,500
Per year with a 2009 agreement hull value of just over &600k. I don’t recall the details of coverage but this is through Markel.

If you're still needing insurance or would like to discuss your current situation email me at REMOVED geico has been canceling policies left and right. There are always options out there just need an agent willing to put in the work. Ive been at this a few years now and have learned alot. I got into this niche as we are looking for our liveaboard in a couple yrs and had no idea on what was needed to be insured. There are so many factors that go into the rating of risk....Alot.

Try getting fire or Homeowner's insurance out west....... :/

Same thing happened to me, and yes Geico will insure you, just not through the independent agent. Have to go direct or through Boat US.
My agent found a policy considerably less than Geico, and it covers us for 125 miles out and the Bahamas. if you're interested in the agent's name, email me privately and I'll provide. I'm sure they would like the business.

Like every other business; their only goal is profit. Regarding value. I take the position a vessel is only worth what one is willing to pay for it. In many cases I saw when shopping for larger boat recently I found where sellers seemed to think that just because they spent X amount of dollars on a boat that it was therefore worth that much more and in many cases that is simply not valid.

My insurance cancelled me because my boat was too old, 1996.
I went with Travelers. Cheaper premiums, higher coverages, and lower deductibles. They didn't even require a haul out!

Did you go direct to Travelers or through a broker? If a broker would you let us know who it is? I'm still searching for reasonably priced insurance.