As a yacht insurance broker, I've been hearing this every day since Hurricane Irma hit last year. After the losses sustained by yacht insurance carriers last summer, carriers have increased their rates, some by as much as 100% or more. For most boaters this is not only unacceptable, but can be unaffordable and prohibitive. Insurance rates are not likely to decrease unless we have a hurricane free summer, but here are some things you can do to lower your premium this year. 1.