Insurance Increase?

[mf01]

Has anyone seen their boat insurance increase this year? I just got my bill from Progressive and it's about 20% higher than last year. Not sure why, since I have no claims. I did move locations, but my total car insurance went down about 10% because of the safer zip code.

[swc5150]

I have a Progressive policy, and mine went down 20% this year. I did change agents, but it's still Progressive. Perhaps my new agent receives volume discounts? I'm unfamiliar with the insurance industry, so I may be taking a stab in the dark with that theory. I can PM you his contact info if you'd like him to provide you a quote?

[mf01]

I have a Progressive policy, and mine went down 20% this year. I did change agents, but it's still Progressive. Perhaps my new agent receives volume discounts? I'm unfamiliar with the insurance industry, so I may be taking a stab in the dark with that theory. I can PM you his contact info if you'd like him to provide you a quote?

Yeah, PM me the contact. I'll check with him.

[swc5150]

PM sent...

[mf01]

I think I just figured it out. For some reason they changed my deductibles. My comprehensive and collision were $250, on the renewal they put both at $125. Not sure why. I'm on the phone waiting for them right now.

[mf01]

I just talked them and I'm paying for a $500 deductible, but it lowers every year being claim free. They said that insurance rates increased in Texas. I got them to bump it to a $1000 deductible rating, which will actually be a $250.

[east tx skier]

My policy is underwritten by Progressive. Rates are the same this year.

[mf01]

When did they send your renewal? He said my last two years have been on rates from January 2007. This year is based on January 2009 rates.

[Chexi]

You should re-negotiate your rates every year or switch insurers every year. Why? Because your replacement value on your boat goes down every year, so the insurance company's exposure goes down every year. It is why Geico (and just about every other car insurance company) can say, "call us, because we can probably save you 15% on your car insurance." Yeah, because most people don't change every year, so if you call them and you haven't changed in 3 years, the new insurer is underwriting a vehicle that is 3 years older than when your old insurance company underwrote your policy.