I just got my boat insurance (Progressive) renewal policy for next year. Looks like the State of Texas has a state wide monthly payment increase of about $8.00...at least it was on my policy and I have that Boaters Safety Course from years back..which helps. Supposed to give a person a 10% discount. This months premium remains the same as last months but next month the increase starts. "Everything Goes Up but Your Paycheck" as they say.

U know its a standard line from the big companies that rates are going up. Kinda get tired of hearing it. cause every time they raise it $200 year, I can call another insurance company and save some money.

I was with Gieco for Marine and Auto. they tried to raise my insurance on the boat by $300 a year, and auto by $400 a year. Switched back to progressive and lowered my Auto insurance payment by $1200 a year, and my boat was lowered to what I paid last year with Geico.

I do not understand the game they play, but it requires you be be active when they try to raise your rate's.

I don't like hearing this, not with buying a new boat. thanks, I'll start shopping around

The way it was explained to me this year by my insurance agent, each insurance company puts in an estimate of how much they think they are going to have to pay out in a calendar year. If their losses exceed that amount by a $ figure they have set aside and their profit margins dont hit their projections, they will raise their rates. They also will raise their rates if they have acquired too much risk exposure even though they have not payed a bunch of money out in a particular year. In other words, their agents are too successful in acquiring/retaining clients. They hope that clients either pay or leave. Either way lessens their exposure.

Reality is its there business model, nothing else. Raise the rates on everyone at least once a year. You loose some customers but most will just pay. Gieco is not cheap anymore, which suggests that is how they control there risk. If you really want insurance with them you'll pay a higher rate, or look somewhere else. All they have to do to control risk is raise rates. if they loose too many customers they lower the new customer rate, let those who have had insurance with them for years continue paying the higher prices.

They have also entered the game of denying claims for long periods in some cases. imagine loosing your work vehicle and insurance not paying out until 60 days later, or take a lower payout sooner. Most of the bigger companies do not do this, but some do.

I represent 13 carriers...let me shop it for yall.