Boat Insurance - Boat US becomes Geico Marine

[farrelltravis]

Hey all!! I have had Boat US insurance for a while. Recently, my policy was bought by Geico Marine Insurance. Since then, my premiums have went up. This year, they went up a lot.

$280 - 2 years ago
$310 - Last year (roughly 10% increase)
$390 - This year (roughly 25% increase)

2 questions about this:

1 - Did everyone who had Boat US end up with Geico Marine?
2 - Did everyone with Boat US or Geico Marine's rates go up by about 25%? (25% increase seems high to me)

 

[bumpy]

Yup, I have been with Boat US for many years and mine went up at least 25% with the switch to Geico. Not too happy, but so far their price is still way less than Progressive or United Marine. I'm not done looking yet!

 

[farrelltravis]

If you find better, let me know!

Did your Boat US policy become a Geico Marine policy?

 

[Ronnie]

My boat us policy is now with geico as well. My rates went up bit i dont recall how much, not enough for me to switch companies though.

 

[adam72]

I have Safeco and the coverage is great for what we pay. Look at ALL the options and what comes with your insurance when you shop. Better to use a local agency who can show you differences in policies as well.

 

[bumpy]

If you find better, let me know!

Did your Boat US policy become a Geico Marine policy?

Yes, the Boat US policy was from National Liability and Fire Insurance, the new Boat US policy is from Geico.

 

[motoman006]

mine through amfam on a sx190 like $270 a year

 

[Grover70]

I'm fully covered with Allstate for $280 on a new '17 FSH.

 

[Eric Ballard]

I have Allstate. I have a 16k claim and price still did not go up. Also the price is great annually (I forget at the moment).

 

[Krzysiek]

I paid $500 in 2016, and $750 in 2017. Geico Marine

 

[haknslash]

Geico has been the Underwriter for BoatUS since 2015. My premiums went down this year. There are many factors that make a premium price in your area.

 

[farrelltravis]

I paid $500 in 2016, and $750 in 2017. Geico Marine

Dang!! That is more than 25%!

 

[farrelltravis]

Geico was the Underwriter for BoatUS since 2015. My premiums went down this year. There are many factors that make a premium price in your area.

Did you have any changes in your policy? If not, I wonder why yours went down?

 

[haknslash]

I can't remember the reason but I think I posted on it in the big insurance thread. I want to say I saved $25 this year.

 

[farrelltravis]

Boat US has always been the best of the best. But, I am wondering with Geico now doing their underwriting, if that is going to change.

 

[haknslash]

Found my post Insurance for why I got the savings this year. It was because of a first year no claims award.

Geico has been doing their Underwriting for BoatUS for a few years now so I wouldn't worry if you like the BoatUS/Geico Marine insurance. When I was shopping they were by far the best in terms of coverage and premiums but like I said a lot goes into your premium that makes it unique to you and your area.

 

[Gym]

That little gecco is high maintenance.

 

[Betik]

Geico has a better analytics department than Boat US, so they can be more precise on risk vs. profitability.

I have Farmers for full coverage on inland waters in Texas. $394 for a 2012 sx240. I feel violated, but I take it like a man.

 

[farrelltravis]

I have had Geico for auto insurance and they have always had great rates and treated me great.

When Geico took over Boat US, my rates have went up. I am hoping they don't continue to go up.

 

[njmr2fan]

I have Geico for Auto and Boat. My boat rates have stayed nearly the same since 2015. Ill have to keep an eye on them now.