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Old 05-02-2013, 14:57   #1
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Personal liability insurance for full time cruisers

What do full time cruisers with no dirt assets (homeowners insurance) do for personal liability insurance? Iím leaving in 6 months and will be selling everything. My current yacht policy covers liability that is boat related only. If I was on shore, riding my bike and caused an accident, my yacht policy would not cover it. Iíve talked to various insurance brokers and have not got any good answers yet.
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Old 05-02-2013, 15:03   #2
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pirate Re: Personal liability insurance for full time cruisers

What PL do you have living on dirt...?
Use the same people...?
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Old 05-02-2013, 15:17   #3
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Talk to Al Golden at IMIS.. They represent several companies including at least one that offers personal liability and personal articles coverage just like a homeowners policy... The one we have is underwritten by Markel

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Old 05-02-2013, 15:21   #4
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Re: Personal liability insurance for full time cruisers

Umbrella Liability Policy?
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Old 05-02-2013, 15:53   #5
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Re: Personal liability insurance for full time cruisers

I went through this same problem many years ago. You need two primary policies and one umbrella policy (if you are worth enough to worry about it).

One primary policy is auto renter's insurance. All of the auto insurers know how to write this policy. It is for people who don't own cars but rent them as you will probably do while you cruise. The insurance supplied by car rental companies has pathetic liability limits, typically $25,000. You probably need $250,000/500,000.

The other primary policy is like homeowners and it is a personal liablity policy. State Farm for one, writes those policies.

And finally if you need it, take out a $1 million or so umbrella policy that picks up where the other primary policies leave off. Make sure that it applies to your boat liability as well.

The whole thing costs about $1,000 per year.

David
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Old 06-02-2013, 07:19   #6
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Re: Personal liability insurance for full time cruisers

I makes a difference as to what kind of boat you have and what kind of assets need protection.

You haven't said anything about either
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Old 06-02-2013, 07:33   #7
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Re: Personal liability insurance for full time cruisers

also make sure the insurance covers you where you sail....
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Old 06-02-2013, 08:01   #8
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Re: Personal liability insurance for full time cruisers

Years ago we picked up 1million in personal coverage due to our business involvement to protect our investments, and the marinas we worked in . We've kept it even after scaling down the business.
Covers us no-matter where we are and any business we do with canvas or upholstery.
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Old 06-02-2013, 08:28   #9
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pirate Re: Personal liability insurance for full time cruisers

Quote:
Originally Posted by meridian28 View Post
What do full time cruisers with no dirt assets (homeowners insurance) do for personal liability insurance? Iím leaving in 6 months and will be selling everything. My current yacht policy covers liability that is boat related only. If I was on shore, riding my bike and caused an accident, my yacht policy would not cover it. Iíve talked to various insurance brokers and have not got any good answers yet.
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