I`m back home and finishing up this deal for a bigger boat. I checked on insurance yesterday and was suprised by what I found.
I have State Farm. I`ve been a customer for 20 years and have all of my possessions insured with them. I`ve been extremely happy with their service.
My current boat is a 1998 22', with an insured value of $25,000 and a 310 hp rating..... :winker:
My annual premium is $439 with a $250 deductible.
The boat I`m buying is a 1986 30', with an insured value of $30,000 and a 840 hp rating. The quoted premium was $1330 with a $1000 deductible. . .
My agent was shocked. She tried playing with numbers, smaller length, less horsepower, lower value....nothing helped until she plugged in a newer year model...then the premium was cut in half !
She could not explain why an older boat would have a higher premium. Anyone seen this before ?
I`m going to shop around more for a better deal, or is this about normal ?
I have State Farm. I`ve been a customer for 20 years and have all of my possessions insured with them. I`ve been extremely happy with their service.
My current boat is a 1998 22', with an insured value of $25,000 and a 310 hp rating..... :winker:
My annual premium is $439 with a $250 deductible.
The boat I`m buying is a 1986 30', with an insured value of $30,000 and a 840 hp rating. The quoted premium was $1330 with a $1000 deductible. . .
My agent was shocked. She tried playing with numbers, smaller length, less horsepower, lower value....nothing helped until she plugged in a newer year model...then the premium was cut in half !
She could not explain why an older boat would have a higher premium. Anyone seen this before ?
I`m going to shop around more for a better deal, or is this about normal ?
