Yes. I renewed at the end of October, unfortunately it was the week before Phoenix came into the market. We will probably drop our policy. You need to have your agent calculate the period you need to keep the policy so you do not lose any of the minimum earned premium that the Insurer is entitled to. In addition when you cancel you will be subject to a penalty clause which equals something like 10% of the premium. Your agent will be able to provide a better explanation.explaination. Also do a search for Phoenix and you should find a prior discussion on this subject.
If I remeber correctly, I was told that Pheonix will not write a mid term policy as I tried to do the same thing. I just renewed in October. Have to wait until next year to switch over.
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C’mon Bill, that isn’t what I said. I was talking about $20,000 RISK (not operating expense) - your quote of mine left that word out. I was trying to make a point about avoidance of $20,000 risk on the hull, when that exposure can be “exchanged” for much higher liability exposure protection.
I don’t think your characterization of me was fair.
Andy
Phoenix just quoted me $4600 for 1m/100k sublimits on 300k hull for an SR22. 400 TT, IR, 200 in SR22.
Paul Boedecker