Anyone else experiencing a big jump in their boat insurance policies? Got my invoice over the weekend and it jumped a hair over 22%. Ive been with Boat U.S. (CNA underwriters) since I bought my first boat back in 1996 and rates have always been competitive and service beyond reproach. But this jump got my attention considering Ive had but one claim back in the late 90s the entire time with them. I spoke with a rep today and they stated their and most boat insurance rates have gone up substantially due to Floods/storms of 2011, hurricane Sandy here, and historic low water levels in all parts of the country that has bumped up claim payouts much more then usual thus the overall increase in rates. I was able to cut increase in half by increasing the deductible but still Im paying more for a little less coverage. Anyway, wondered if anyone else is running into this same increase.
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