BoatUS/GEICO: premiums up 40% for next year?!

[antoha]

just received a policy update for the upcoming year. i have an agreed value policy, and this is my 10th year with BoatUS. they have decided to drop my agreed value by 15%, and at the same time increase my premiums by 30%. i called them and they can bring the hull value back to where it was, and my policy cost is "only" going up by 40%. i called them and they said that before everything was bundled in one package, and now everything is being broken up and i can give up portions of the bundle i don't need (and of course, there's nothing really that can be dropped).

below is the wording from my updated policy. anyone else experiencing this? doesn't look like a change for the better.

very frustrating...
anton

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Dear Policy Holder,
BoatU.S. and GEICO Marine are pleased to introduce a new boat insurance policy that will replace your current policy effective with this renewal term.

The new policy provides great coverage while also allowing policyholders more flexibility to select only the coverages they need.

[Shrew]

Find a multi-line insurance agency that specializes in JUST marine insurance companies.

Maritime Insurance International is one example.