Cruising on $500 / Month

[gettinthere]

I think it is totally selfish to not have liability insurance on your boat. If your rode breaks and you crash into me and do major damage to my boat, you are likely going to be a total jerk and tell me 'too bad'. I'd want to take a baseball bat to your head for being a total jerk like that.

What if you sink and leave an oil slick behind? Again you will likely become a total jerk and just walk away leaving your mess for others to clean up. That should call for jail time where the inmates can have at you for being a total jerk.

Be responsible and get liability insurance. Unless you have few milluion stashed away to take care of unexpected liabilities.

[Stillraining]

Credit rating has been in affect around here for a few years...same goes with home or auto ins.... I expect mine will go up...

[Christian Van H]

Originally Posted by gettinthere

I think it is totally selfish to not have liability insurance on your boat. If your rode breaks and you crash into me and do major damage to my boat, you are likely going to be a total jerk and tell me 'too bad'.

I agree. It's just not that expensive, and I think it's irresponsible. "Too bad" aint gonna cut it though...you can press to have a summons written, and call a lawyer if necessary. Dont let them EVER offer to "fix it themselves...", as this is an invitation to disaster!

[Ram]

Originally Posted by Christian Van H

I agree. It's just not that expensive, and I think it's irresponsible. "Too bad" aint gonna cut it though...you can press to have a summons written, and call a lawyer if necessary. Dont let them EVER offer to "fix it themselves...", as this is an invitation to disaster!

I respectfully differ, my insurance is very expensive, and i considered going with out this past year due to the possability of the insurance co. going bankrupt and the cost is up there, but i paid it and there still in biz.

[Stillraining]

Ram you are commercial though not a fair comparison...I pay less then 100 per month for 2 mil Liability and full coverage for 100k...I realize your boat is worth 3 times that but the OP's I don't think is.

[gettinthere]

Lets be clear; we're talking about 2 versions of boat insurance.

One is full coverage with replacement costs for the insured boat. Rather expensive.
Second is liability only to cover damage to other property by your boat. Very inexpensive.

Anyone without the minimum of liability insurance is a complete jerk, unless they are loaded with cash to pay any damages they cause.

[Navicula]

I think we all agree that insurance should
be included in you budget in 2009

no matter what your rate will be, it will take a chunk out of your 500 dollar per month budget.

I am sure there are people out there living on a boat at 500 dollars per month, and thats great. I would try it but I think I would fail.

[Springbok]

Thanks for the overall input, definetly different categories of cruisers re luxury (necessity to some) to Spartan (includes fishing,snorkeling etc) so budgets vary greatly. Ultimately it depends on what you can afford and if this pulls you out of your "normal"comfort zone.
Re insurance we spent 7 years in the Caribbean,6 hurricanes, damage in 3. From 1995-2002.We ran South to Tobago/Grenada twice, both those years no hurricanes hit St Maarten. We eventually insured the boat after the 2nd damage refix.Sure enough another hurricane ,we were ripped off a hurricane mooring by a 200 ton work boat, who on dragging anchor and motoring around thought a 33ft yacht was as good as any to tie onto . We were not aboard as in other hurricanes.Rocket was eventually ripped loose with the extra weight, the unmanageable local workboat then cut herself loose but smashed into the boat moored behind and sunk this yacht.We found Rocket the next day acoss the lagoon in shallow water,scratched ,broken rudder etc. Insuance claim $27000. BUT the insurance company, British, turned out to be a scam. 14 other boat claims were involved, all lost out. We all received a policy with Lloyds approval but the "insuring brokers" kept everyones money, never paying the policies off within 90 days,so Lloyds said they were invalid. No-one would have been any the wiser if ther were no claims that year. So much for insurance .

[Ram]

Originally Posted by Springbok

Thanks for the overall input, definetly different categories of cruisers re luxury (necessity to some) to Spartan (includes fishing,snorkeling etc) so budgets vary greatly. Ultimately it depends on what you can afford and if this pulls you out of your "normal"comfort zone.
Re insurance we spent 7 years in the Caribbean,6 hurricanes, damage in 3. From 1995-2002.We ran South to Tobago/Grenada twice, both those years no hurricanes hit St Maarten. We eventually insured the boat after the 2nd damage refix.Sure enough another hurricane ,we were ripped off a hurricane mooring by a 200 ton work boat, who on dragging anchor and motoring around thought a 33ft yacht was as good as any to tie onto . We were not aboard as in other hurricanes.Rocket was eventually ripped loose with the extra weight, the unmanageable local workboat then cut herself loose but smashed into the boat moored behind and sunk this yacht.We found Rocket the next day acoss the lagoon in shallow water,scratched ,broken rudder etc. Insuance claim $27000. BUT the insurance company, British, turned out to be a scam. 14 other boat claims were involved, all lost out. We all received a policy with Lloyds approval but the "insuring brokers" kept everyones money, never paying the policies off within 90 days,so Lloyds said they were invalid. No-one would have been any the wiser if ther were no claims that year. So much for insurance .

So how do we know if we are really insured?

[Hampus]

Originally Posted by Ram

So how do we know if we are really insured?

Best bet is probably to use a well known and well established insurance company.

/Hampus

[gettinthere]

springbok

care to name names?

[marujo.sortudo]

Too great books to read about frugal cruising (if you haven't already):

Voyaging on a Small Income by Annie Hill
The Cost Conscious Cruiser by Larry & Lin Pardey

[Ram]

Originally Posted by Hampus

Best bet is probably to use a well known and well established insurance company.

/Hampus

One that is Lloyds approved ?

[Springbok]

The "British" insurance broker had a representative on St Maarten, an honest Frenchman, who when the 14 claims came in really did his best to aid us all, he was conned as well and lost his house and family (divorce) because of the con.When you receive papers from Lloyds of London acknowledging your policy one assumes all is above board.There was no indication that the broker still had to pay the premium, we are not told of the 90 day clause by broker or Lloyds. This clause was only put forward by Lloyds when claims were made. We got a French lawyer to represent all the boats involved but Lloyds were not held responsible for this "rouge broker" even though he was registered with them Welcome to the REAL WORLD.

[Ram]

Originally Posted by Springbok

The "British" insurance broker had a representative on St Maarten, an honest Frenchman, who when the 14 claims came in really did his best to aid us all, he was conned as well and lost his house and family (divorce) because of the con.When you receive papers from Lloyds of London acknowledging your policy one assumes all is above board.There was no indication that the broker still had to pay the premium, we are not told of the 90 day clause by broker or Lloyds. This clause was only put forward by Lloyds when claims were made. We got a French lawyer to represent all the boats involved but Lloyds were not held responsible for this "rouge broker" even though he was registered with them Welcome to the REAL WORLD.

So with that said how do we protect ourselfs, there must be a way to know if we are really covered??