Cruising on $500 / Month

[Springbok]

I am obviously not a rich man and never have been but DID cruise and wonder if I can on a limited budget again, hence this thread "Cruising on $500 p/mnth". Re insurance we and others were badly stung and I don't have any answers. Obviously there are good/honest brokers/insurers out there but it can be expensive. We only had chain on our anchor and dived on it whenever we dropped anchor.We never dragged whilst cruising.Re Hurricanes we prepared our boat very well ie hurricane mooring,other anchors ,mast down etc etc. In most cases it is the other boats around you that drag and begin the log-jam,often hastily anchored charter boats. Anyway the 7 years in the Caribbean even with all the set backs was a "life-experience", so we dream again on $500 p/mnth

[barnakiel]

Originally Posted by TACK OFF

you do not mention how much insurance 60 euros per year buys.
but I hope it buys a lot

It buys something like EUR 1 million. Roughly the cost of a new coat of varnish on anything called here a yacht (while actually being just a tax evasion).

But we have the choice of not scratching the capitalists' topsides as long as we stay in anchorages. Which is exactly what we do when CRUISING.

b.

[Ram]

Originally Posted by barnakiel

It buys something like EUR 1 million. Roughly the cost of a new coat of varnish on anything called here a yacht (while actually being just a tax evasion).

But we have the choice of not scratching the capitalists' topsides as long as we stay in anchorages. Which is exactly what we do when CRUISING.

b.

60 euros a year? Seems like its a scam, thats too cheap , i hope youu never need to collect!

[Brent Swain]

Why would anyone in their right mind want to dock in Toronto?

[marujo.sortudo]

Once you buy a sailboat you are clearly no longer in your right mind.

[barnakiel]

Originally Posted by Ram

60 euros a year? Seems like its a scam, thats too cheap , i hope youu never need to collect!

Not necessarily. It is by King's decree, obligatory. The total is subdivided into specific damages. I believe they would pay up to about EUR 100k per damage, unless there are damages to sbd's health, etc. in which case it is around 240k max per person injured.

It is not so much that anybody wants to collect it or not - it is obligatory to have it, if you are using any marina in Spain, whatever flag your ship shows.

b.

[Ram]

Originally Posted by barnakiel

Not necessarily. It is by King's decree, obligatory. The total is subdivided into specific damages. I believe they would pay up to about EUR 100k per damage, unless there are damages to sbd's health, etc. in which case it is around 240k max per person injured.

It is not so much that anybody wants to collect it or not - it is obligatory to have it, if you are using any marina in Spain, whatever flag your ship shows.

b.

still smells fishy to me, its one of those things i just cannot beleave...if its too good to be true..it useilly is-once upon a time i bought cheap insurance for my car, its the law here and someone hit me..guess what the compney went out of biz and i never got paid ....

[Navicula]

Originally Posted by Brent Swain

Why would anyone in their right mind want to dock in Toronto?

Great looking Ladies
Great food
Great wine
Great shows
and Great weather

you are invited to try it.....please

[marujo.sortudo]

Liability insurance is about the same in the US per max payout. The liability portion of my insurance is $262/yr which coverages up to $500,000. I have full insurance, though; so I'm not sure if I could just buy the liability but I imagine it would be an option.

[dana-tenacity]

Originally Posted by Ex-Calif

I could also save money by not repacking the liferaft...

(Sorry a little cynicism to start the day)

That's OK . I'd skip that as well - never did trust those things.

Proof of (liability) insurance is a requiremnt for licensing here.

Register elsewhere

Mooring costs are $1,000 per year. I reckon I could eat that up at ports of call.

$1000 per year is pretty good, but yes if you were travelling it would go in port/entry fees pretty easily.

Your suggestion saves about $120 per month.

Can't follow your arithmetic, seems the big issue is insurance. So take liability if you absolutely must, sounds like it's cheap enough.

[barnakiel]

Originally Posted by Ram

... once upon a time i bought cheap insurance for my car, its the law here and someone hit me..guess what the compney went out of biz and i never got paid ....

It is not for when I get hit. It is only for when I hit someone.

The one to be covered when I get hit is optional, and far more expensive.

Off course, if the company goes belly up, it goes, and I have to buy a new insurance from their competition.

b.

[cantxsailor]

$500,00 liability only for my 31yo Pacific Seacraft 25 is $55 a year through State Farm.

After being told I needed a full out of water survey($650) and knowing full well that replacement $ on my boat would be an argument(that I wouldn't win) from the word "go" I decided not to bother with full coverage($650-800).

Hurricane Ike did me bunch of damage. Enough that an insurance company would, most likely, have written Turtle off, but I brought her home and did the work myself over almost a year and relaunched her a couple of weeks ago. The money I saved on slip fees over the year more than paid for all my repairs luckily.

Hurricane Ike also damaged my MILs roof. She has been paying her insurance to the same company(unnamed) for 47years with only 2 very small claims(stolen lawn equipment) and it was a battle to get $3900 to fix the roof. The damage to trees and her lawn shed was not even considered.

Insurance is a racket that preys on peoples fears of what "might" happen. I have been paying for car insurance for over 30yrs. I could have purchased several new cars with the premiums that in my case have been a burden and a waste since I've not had a car stolen or damaged or damaged anyone elses either. The biggest scam they are doing now is using my credit rating to figure my insurance costs.

Can anyone explain what my credit score has to do with wether or not I'm a good boater/driver? If you can please speak up because I can't figure it out.

Don't get me started on health insurance. We don't need affordable health insurance we need affordable health care...............m

[Navicula]

$500,00 liability only for my 31yo Pacific Seacraft 25 is $55 a year through State Farm.

After being told I needed a full out of water survey($650) and knowing full well that replacement $ on my boat would be an argument(that I wouldn't win) from the word "go" I decided not to bother with full coverage($650-800).

Can anyone explain what my credit score has to do with wether or not I'm a good boater/driver? If you can please speak up because I can't figure it out.



500 thousand is not enough today, I am not kidding, sure 500 thousand will cover alot of boat repairs, but it is NOT enough to cover personal injury, heaven forebid anyone should get hurt on your boat

some crusiers today have alot of value in there boat and they want to be fully covered incase they hit a reef and sink..........hey it could happen, just look at lazy jack.

however going forward to 2010, you should include insurance in your monthly expense, a personal injury claim could sink you quick.

ps. the credit issue bothers me as well

[FrankZ]

Originally Posted by TACK OFF

Can anyone explain what my credit score has to do with wether or not I'm a good boater/driver? If you can please speak up because I can't figure it out.

I don't believe the insurance companies decide you are a good or bad boater based on credit score. They likely use it to assess risk (and that is what insurance is all about). If you are heavily in debt they may be concerned you would scuttle the boat to pay off debt (it has happened) or you may be too risky as you won't have funds to maintain a boat properly.

[Ram]

Originally Posted by FrankZ

I don't believe the insurance companies decide you are a good or bad boater based on credit score. They likely use it to assess risk (and that is what insurance is all about). If you are heavily in debt they may be concerned you would scuttle the boat to pay off debt (it has happened) or you may be too risky as you won't have funds to maintain a boat properly.

Im not sure if i buy that, if thats true why do they do a credit check when you get car insurance?