NewbieFromNJ
Senior Member
Does anyone know the hurricane boundary on the east coast meaning at what point north would insurance companies consider your slip location outside of the hurricane zone and thus lower premiums. Is there a sliding scale?
I don't know the answer to your question but I do know how you can find out:
1) Read your policy.
2) Call your agent.
The reason I am asking is that I'm still 2 years out in my purchase of a trawler. I live in central NJ and will be selling my home with a significant downsize and using the proceeds to buy a used trawler and modest home preferably with its own bulkhead. I notice some members have a slip in Florida used during non hurricane season and one up north used during hurricane season. So part of my due diligence is to see how far south I should move to to avoid the hurricane surcharges. Thanks for the replies so far.
Ours used to say something like "chesapeake or north during hurricane season" but when we wanted to head south (we're in georgia now) they said, "no problem, no additional charges, just let me change some wording" and now we have a clause that says "north of cumberland island (essentially ga/fl border) during hurricane season".
we have a flavor of ace insurance
Unless you are planning on giving up a house completely and living full time on your new boat, you should also consider the risk of flooding when selecting where to live. FEMA flood insurance policies can now be very expensive. Before we sold our Massachusetts waterfront home, we heard ridiculous quotes of $40-50K per $250K of coverage!!! While I understand there has been something of a moratorium in the North East (and there have not been any major East Coast storms/floods for a few years) I fully expect the FEMA rates to eventually go up substantially. Consequently our new home is 60ft above the flood plain!! While we did consider canal front real estate in Ft. Lauderdale at one time, it seems to me now that much of the Ft. Lauderdale properties must be in the flood plain??
I guess I kind of fit that description. My boat is stored on the hard in FL from May to Nov 15th. That's when I'm there. Never really checked on anything else.The reason I am asking is that I'm still 2 years out in my purchase of a trawler. I live in central NJ and will be selling my home with a significant downsize and using the proceeds to buy a used trawler and modest home preferably with its own bulkhead. I notice some members have a slip in Florida used during non hurricane season and one up north used during hurricane season. So part of my due diligence is to see how far south I should move to to avoid the hurricane surcharges. Thanks for the replies so far.
I guess I kind of fit that description. My boat is stored on the hard in FL from May to Nov 15th. That's when I'm there. Never really checked on anything else.
I wonder how many with such clauses moved their boats out of South Florida and north for Matthew. I do know of one who cut their trip to Fort Lauderdale short and ran a straight day and night run home to Hilton Head.
And Hilton Head got hit hard by Matthew. Lots and lots of damage.
One never knows where a hurricane might hit. Annapolis, MD got hit hard by one a few years back.
Is it on the hard because you're not there to use it or because of some hurricane whispers or statements by agents?
Yes and yes.
I live in NJ May thru Oct for the foreseeable future. Ins co says I must have a hurricane plan to move boat to safety OR store in a slip behind house that I own. .......................