Originally Posted by s/v Thievery
My husband, Chris, and I are about 23 months away from quitting our law firm jobs to move onto s/v Thievery and leave our land life behind . . .
We will probably do away with either medical
or boat insurance
- although I'm diabetic and seem to have a knack for breaking bones.
Welcome to the Forum, Thieves! It's good to have you here. Surely it's just a coincidence that you work in law firms in DC and own a vessel named Thievery.
I'm sure there will be many who disagree with me, but if you're going to cruise
outside US waters, why not forego both
boat and medical insurance. It will be difficult to get insurance for your vessel once you sail beyond US waters in any event, given your lack of recent such experience - certainly, it will be hard to find at a reasonable cost.
And, as far as medical insurance goes, once you sail to, say, the Latin countries, the medical care is inexpensive and actually quite good. Given your relative youth, and despite your diabetes, you are probably less likely to need a great deal of medical attention than the typical older cruiser you'll run into. For the occasional broken bone, the expense should be much less than months of health insurance
You are to be commended for establishing the saving habit at a young age. That will serve you well your entire lives if you can stick to it. That said, the only potential fly in the ointment I can see is the huge question mark hanging over the American economy. I would not be at all surprised to see the $US collapse against other, less impaired, currencies, and that would drive up the relative costs of cruising, at least in $US, considerably.
In the ~2 years between now and your departure, things could change (alas, for the worse) in ways none of us might presently believe. Still, if you continue as you have been doing, I think you will be in the best position to cope with whatever the next few years hold.
Best of luck to you both, and bon voyage!