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I'm hoping that some insurance CO will see this problem as an opportunity and
start designing policies for responsible experienced boaters in FL and other
hurricane effected areas. I think that people like us with more than just a
casual interest in cruising are likely to be better risks than your typical 25'
Bayliner owner. I think insurance companies should start paying a lot more
attention to who they except surveys from I see an awful lot of surveyors that at
best are incompetent at worst dishonest. They should also start looking at
where the boat is kept and I don't mean only what state I mean what marina or
dock. They don't seem to care at all about that even though it will be a
critical factor in a storm.
What about offering policies with very high named storm deductibles or
policies that omit coverage completely during a named storm. I think a company that
got creative might be able make some money providing policies like this.
Admittedly I don't know anything about the insurance business and I'm sure there
are things I'm overlooking but sometimes it just seems like these huge companies
are out of touch with what's really going on. They appear to be so buried in
statistics and probability studies that they overlook problems that are
obvious to anyone directly involved. Because of this they suffer huge losses and
then say we need to get out of this market because it's not profitable.
Hopefully some company will see this as an opportunity rather than a reason
to run and provide us with some viable alternatives to assuming the risks
ourselves capitalism has a way doing that It just may take some time.
Brian Palmetto FL
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