Is your boat insurance going down???

[996scott]

So I was looking up something on my boat and came across my insurance for the boat. I use Progressive. I usually just pay it every year and not pay too much attention if it's gone up or down. I pulled up the last 3 yrs and was shocked to see it has steadily gone DOWN the last 3 yrs! In 2022 it was $458, 2023 it was $397, and in 2024 it was $304 for our 2021 Craz. I want to call Progressive to see if they've made a mistake but I don't dare lol. Anyone else have the same experiecne with their insurance?

[Buckeye]

I also have Progressive and have had the same experience

[HFarr]

I guess because of depreciation?

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[myaurisvietnam]

Wow, that's unusual! Insurance usually goes up, not down. Maybe they initially overestimated your risk? I'd still call them, free money is free money

[Holdmybeer]

Your boat value is dropping so the premium matches.

I had this conversation with my agent last year since I have an older boat. I picked a firm value now and my rates are always the same. Basically if it is totaled I'll get a set number regardless. I did this since boat market is up but NADA is still low on used boats.

[sandm]

I use progressive for my auto and it went down $50 from last august for my 6 month policy. guessing it's due to the used car market finally stabilizing.

[VA LSV]

I switched to Progressive this year and paid WAY less than than I was paying in the past. Even my agent couldn't believe the difference.