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Technology partially responsible for insurance hike?

Discussion in 'General Yachting Discussion' started by Pascal, Aug 16, 2022.

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  1. Pascal, Aug 16, 2022
    #1
    Pascal

    Pascal Senior Member

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    Miami, FL
    As usual the Triton “article” is amateurish and light on substance, but it s the first time I see the rise of technology named as a cause for rising insurance costs. It makes sense but I wonder if anyone has seen actual data. no doubt boats have become increasingly complex and more expensive in the last 20 years

    https://www.**************/2022/07/underwriters-at-the-helm
  2. Seasmaster, Aug 16, 2022
    #2
    Seasmaster

    Seasmaster Senior Member

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    Heck, I was gonna opine that "tech" dependence was the cause. Everyone is looking at their pretty displays, instead of looking out the window. When boating, we have become "observers", not operators. . . [but I have indeed become one very cynical b@stard, though. JW would confirm it - with a nod & a smile!]
  3. Brett Portzer, Aug 16, 2022
    #3
    Brett Portzer

    Brett Portzer New Member

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    Waterford, NY
    I have heard from a marine insurance guy that the cost to repair a modern boat's electronic equipment after lightning damage is astronomical now, compared with relatively few years ago.
  4. bayoubud, Aug 17, 2022
    #4
    bayoubud

    bayoubud Senior Member

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    A neighbors 60 Hatteras convertible was hit by lightning a several years back, he said cost was around $150k. Likely much higher today.
  5. PremierPOWER, Aug 18, 2022
    #5
    PremierPOWER

    PremierPOWER New Member

    Joined:
    Dec 18, 2020
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    Location:
    Florida
    Our brand new Schaefer 660 was struck by lightning about a month ago. Going to be close to $750k (early guesstimate) to fix everything. Insurance sent out multiple surveyors, including one who specializes in lightning and insurance will be covering all repairs. Still sucks

    Major Systems broken:
    - Both engines (Volvo 1200)
    - Generator
    - FLIR M364C
    - Garmin radar
    - (2) Garmin 22" MFD's
    - (2) Garmin 17" MFD's
    - (2) Garmin VHF radios
    - (6) Garmin cameras
    - (6) TV's
    - Autopilot
    - Seakeeper
    - Bow & stern thruster
    - Hydraulic platform
    - Water maker
    - (3) AC chillers
    - Remote spotlight
    - Underwater lights
    - Passerelle