Insurance question

Your experience is similar to mine except the freshwater, you will likely be approved as operator, with one additional experienced person onboard on a 65 footer. We just got a renewal premium which increased 42 % over last year, equates to 2.1% of hull value.
On the bright side our boat is under contract and just accepted by the buyer! Insurance is now on hold.
Booyah!!!

A 42% premium hike could definitely prompt boatowners to look for the 2nd happiest day. Congratulations.

Thanks. It wasn't planned but worked out in our favor on the insurance renewal within 3 weeks. Your right, if this is the norm it will get boat owners attention. Our premium has almost doubled in three years. I think these big increases are mainly here in Florida and high risk hurricane areas.
Have a sign on my deck...."Paradise ain't cheap!"

Regarding the question of where the boat gets used; Yes, this has to be defined to an extent. You will have limits where you can go u less you can find a policy otherwise (unlikely). If you occasionally want to go somewhere outside of your coverage area you can usually get trip coverage from your insurance. For example, boats in the Seattle/Puget Sound area are usually not covered to go to Alaska unless they get trip coverage or have a policy specifically covering it.

In Cabo, you will have an additional problem -- hurricane coverage. I pay extra for the privilege of having my boat in a hurricane zone, but during hurricane season the coverage is subject to stiff conditions. Basically, I cannot enter the zone during a named storm, and must have (and follow) an approved hurricane plan. That basically means that I am prepared to move the boat out of the zone if a storm is approaching. My insurance company must pre-approve anyone running my boat (and actually even crew -- and they have declined a few guys over the years), so that leaves me vulnerable to an approved captain being unable (or unwilling) to move my boat as a storm approaches. Admittedly, there is a trade off between coverage restrictions and pricing, so you may be able to find a less restrictive policy to your liking. BTW, my annual premium is about 0.75% of agreed value. And my boating resume was scrutinized before approval (with surprisingly many/detailed questions asked).

Agree, lots of unattended boats in Florida, many owned by absentee owners. Some show up in our Bayou every hurricane warning, improperly anchored. You know how that ends.