Boat insurance rates are going up as more boats arrive in California
The number of boats hitting the ocean in California has more than doubled in the past decade, as the state has more boat owners and boats registered to owners who have been living in their boats for a few years, according to a new survey from insurance firm Insure California.
Insure Californias latest annual survey of boat owners revealed that the number of boat-owners who are registered to their boat’s owners jumped from 642,000 in 2011 to 876,000 last year.
The study also revealed that many owners are trying to keep their boats afloat, which can increase their risk of injury or death.
The majority of boat insurance claims in the state are for injuries or death, and insurance companies are now looking at a raft of new insurance options, including auto insurance, national insurance, boat insurance and boat registration.
Insure California President and CEO Matt Smith said that the increase in boat insurance is a positive development for the industry.
“The rise in boat owners, owners of small boats and those who are new to boat ownership has had an effect on the way boat insurance has been set up for the past 10 years,” Smith said.
“The more boats there are, the more of a problem there is for insurance companies.
The industry needs to address the issue and increase the number.
The number of registered owners of boats increased from 926,000 to 1,007,000.
The total number of insured boats rose from 1,715,000 with only 1,003,000 owners.
The average annual income for the average registered owner was $52,000 and the average annual boat insurance premium was $5,719.
Insurance rates have increased since 2010, when the number and average annual premiums for boat owners rose from $4,769 to $8,064, according the survey.
Insurers are looking to offer more insurance to boat owners who are willing to take more responsibility for their boats.
Smith said that he thinks the increased risk of boat injury and death is the primary reason for the increase.”
Insurance is going to be a lot more expensive.””
Insurance will increase your risk if you’re a young, inexperienced boat owner or a person who has never had a boat before.
Insurance is going to be a lot more expensive.”
The Insure Cal study is the latest to find that boat insurance prices have increased significantly in California.
In the past two years, the state’s average annual insurance premium rose $8.3 million.
The state also had a significant increase in the number insured boats, from 1.5 million in 2011 and 3.1 million in 2014 to 5.9 million in 2016.
The state of California is currently in the midst of a statewide drought, and many states have seen a rise in the demand for boat insurance coverage.
Smith explained that insurance companies will now be looking to expand their pool of policies to cover more boats and more people, while also providing better coverage to those who aren’t willing to pay more.
“It is going into the boat insurance pool, and the pool is going higher,” Smith added.
“They are going to continue to expand and expand.”ABC News’ Scott Smith contributed to this report.