2026 Boat US/Geico Insurance Changes

[tranquil]

Anyone up for renewal thus far this year? I just received notice that at my renewal date in March ...
"BoatUS and GEICO Marine will be introducing a new boat insurance policy that will replace your current policy effective with this renewal term."
Anyone know what this entails?
Also - someone mentioned to call BUS/GEICO as if a new boat owner and ask for an insurance estimate - which would be a higher hull value because they reduce hull value every year - and then ask them to issue a renewal policy at that higher hull value = will need to reveal your data as a current insurance holder. Appreciate advise on this.
Thanks

[Olivia Mae]

I got the same notice when our policy went up for renewal last Sep. The changes are detailed in the email you received. Nothing really changed concerning the policy except they lowered my agreed hull value coverage down to 99k to reflect the fact that the boat is a few years older than when I took out the policy at 110k. That value, that I initially requested was based on the survey value (which was actually more than that) when we bought it. The policy cost actually went down some on the renewal. I don't ever remember that happening in the history of mankind.

[tranquil]

Thanks for the reply. I was able to go online and obtain the entire policy which contains many changes. My hull value for a 2004 was dropped to 60K+ This is far too low and I think the purpose is so if anything happens Geico will be required to pay less than the boat is worth. 2 years ago a friend bought a C350 that is 3 hull numbers younger than mine and the boat was valued at $120K+ at that time. I've not ever had a claim and find it impossible that in 2 years my hull value is half what it was via survey of a 3 month younger version was worth 2 years ago. This is an example of insurance companies manipulating and controlling the actual worth of our boats when 2 years ago the same boat sold for twice what insurance claims the boat is worth now. The cost of a survey in this neck of the woods is around $6K; despite that I will shop around for other insurance. I've been sick the past 6 years and just paying the insurance bill without time to drill down on the details. My misfortune.

They changed the state requirements; I live in Illinois but keep the boat in Wisconsin - have since 2021. Not sure why the change now and not back then.

I would like to better understand the steps an owner took to approach Geico/Boat U.S. to get a quote for the actual hull value the boat was worth by pretending to be a potential new customer instead of the decreased hull value as an existing customer.