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Insurance Question - Please help

Discussion in 'General Yachting Discussion' started by elsupremo, Jul 1, 2005.

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  1. elsupremo, Jul 1, 2005
    #1
    elsupremo

    elsupremo Senior Member

    Joined:
    Jul 1, 2005
    Messages:
    65
    Location:
    Orange County, CA
    Hello guys, my insurance called me today and has raised my rate for no apparent reason. So to see how others are faring, I decided to post here and see what you all say.

    I have a 1991 Sea Ray 440 Express, in very good condition, valued probably at about $175,000. The insurance company is charging me approximately $1450/yr.

    Is this fair or comparable to what any of you pay with a similar boat/value? Does it sound right? If not, where should I look for a good rate?

    Thank you in advance for any help or advice anyone can give me. It is truly appreciated.

    Sincerely,
    David
  2. Capt J, Jul 17, 2005
    #2
    Capt J

    Capt J Senior Member

    Joined:
    Jul 11, 2005
    Messages:
    14,534
    Location:
    Fort Lauderdale
    $1450 a year sounds like a very reasonable quote on a $175,000 yacht. As a yacht ages it is somewhat common for premiums to go up because the risk of damage goes up (fire due to older wiring etc.) As well as everyones premiums have gone up across the board because of the hurricanes last year. You didn't say what area you are in, but that varies as well.
  3. elsupremo, Jul 17, 2005
    #3
    elsupremo

    elsupremo Senior Member

    Joined:
    Jul 1, 2005
    Messages:
    65
    Location:
    Orange County, CA
    THANK you, for the reply. I am in Southern California. Your reply makes sense to me, so thank you again.

    Dave
  4. jcwilsonmd, Aug 1, 2005
    #4
    jcwilsonmd

    jcwilsonmd New Member

    Joined:
    Aug 1, 2005
    Messages:
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    Location:
    Annapolis, MD
    Insurance Premiums.

    Currently the insurance carrier we work with would quote your Searay around $2,000.00/yr. (Just to give you an idea.)

    Jeff Wilson
    National Marine Underwriters, Inc.