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Old 08-12-2012, 08:41   #211
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Re: Published Costs of Cruising

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Originally Posted by Don Lucas View Post
I don't believe I have ever tried to cover all the "what if" scenarios. All I'm saying is that it is reasonable that people have insurance to cover the result of their actions on others by having at least liability insurance.
I 100% agree that we should all accept personal responsibility for our actions. If, through negligence, I cause your boat damage, then I will make amends. I expect nothing less from others. Insurance is one way of having some capacity to make amends. It's not the only way.

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My compensative and liability insurance for my boat is a lot less than for my car even though the boat is worth a lot more than my car!
As I said earlier, once a rational risk assessment has been made, only then can one do a rational cost-benefit analysis. If costs are low, then it leads one to buying insurance. Where insurance costs are high, as is often the case for those who sail the great beyond, the cost-benefit analysis leads the other way.

Here's another solution for you Don. If in your assessment you determine that my lack of insurance is a high risk to you, then the answer is for you to buy me insurance -- thanks buddy .
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Old 08-12-2012, 10:20   #212
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Re: Published Costs of Cruising

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Honey... Like it or not $500 a month is all I have to live on no matter where I live. So I make do... I'm just lucky that I lived on a boat years before the economy collapsed and I found out that I was unexpectedly retired.

At $500 a month I believe a mooring ball is totally out of the question as is a marina full time. HA, mooring balls would be a sign that $500/month sailors can't afford to live there.

BTW I do have insurance too. So no worries there ;-). See I'm responsible or is it reprehensible, I get that confused sometimes.
Independent, capable cruising sailor and GL too! Yes Cap..you are already ahead of the nautical herd...just got my boat picture online Ocean Trader If you have a modest income on the side that would be perfect. The mooring ball will not help when you set sail for new ports.
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Old 08-12-2012, 15:58   #213
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Re: Published Costs of Cruising

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Originally Posted by Don Lucas View Post
I don't believe I have ever tried to cover all the "what if" scenarios. All I'm saying is that it is reasonable that people have insurance to cover the result of their actions on others by having at least liability insurance.

My compensative and liability insurance for my boat is a lot less than for my car even though the boat is worth a lot more than my car!

BTW - in New Hampshrine where I live you aren't required to have car insurance. Unless you have had a past accident. It's like closing the barn door after the horses have gotten out already.

PS - What does Lin and Larry have to do with anything here?
I think most of us would consider them prudent and reasonable sailors yet they don't carry insurance.
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Old 08-12-2012, 16:33   #214
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Re: Published Costs of Cruising

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Last I read Lin & Larry Pardey didn't carry insurance. They were completely self insured ... just saying.

Car insurance is required in almost all cases by state law. You don't have a choice.
We won't have a choice with health insurance either!

.
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Old 08-12-2012, 16:37   #215
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Re: Published Costs of Cruising

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I think most of us would consider them prudent and reasonable sailors yet they don't carry insurance.

Accomplished sailors.

Still has nothing to do with insurance, or are you aganist engines now also?
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Old 08-12-2012, 16:47   #216
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Re: Published Costs of Cruising

Hint...buy the biggest and the most rubber fenders you can afford...they make it easy on everyone's pockets. Elastic collisions are much cheaper to fix.
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Old 08-12-2012, 16:54   #217
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Re: Published Costs of Cruising

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Accomplished sailors.

Still has nothing to do with insurance, or are you aganist engines now also?
I'm not sure what you are saying with ..."accomplished sailors"? Maybe you could explain.

I think my comment has everything to do with insurance. The Pardey's don't carry boat insurance (last I heard) and most sailors I know consider them reasonable in their risk tolerance.

What do engines have to do with this?
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Old 08-12-2012, 17:07   #218
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Re: Published Costs of Cruising

Don,

It seems there are two catagories those who accept that could damage anothers vessel and cover that possibility with liability insurance and those who don't care (because it costs boat dollars) it's just too bad.

Often difficult to know which vessels to avoid if they don't have a sign.

"This vessel is not insured" Keep clear.

Whichever catagory you are in it is definitely part of the cost of cruising.

Just keep clear of some.
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Old 08-12-2012, 17:34   #219
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Re: Published Costs of Cruising

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Don,



Just keep clear of some.
well, I just rather be between boats having "no insurance" sign than fully insured boats. They don't care... My harbor after Sandy is a good example.
Anyway, I have liability insurance , it is $200/year or whooping 17 a month. I know how to cruise US East coast for $500 /month/person. I have done it.
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Old 08-12-2012, 22:02   #220
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Re: Published Costs of Cruising

You Know I think insurance is a good idea. I don't have it because of a combination f the following reasons; I can not, will not, or do not qualify. So sorry in advnce but if you have insurance you have nothing to worry about. much. If you don't then you are taking the same risk as me and have nothing to complain about.
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Old 08-12-2012, 23:46   #221
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Re: Published Costs of Cruising

Advertisments on the AAMI theme come to mind where a small innocent action causes a DOMINO effect of damage costing thousands.

Marina's in my experience require insurance as a pre-requisite to enter their, in effect premises. You need to budget for this in some way for your own protection, can you imagine a throttle/gear-box jam/fire on board scenario where seconds count to avoid an AAMI style disaster???

We spend 75% of time on the hook cruising and the remainder in Port whether at a Quay or Marina not forgetting annual slipping. Insurance costs around $4,200/year.

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Old 10-12-2012, 19:16   #222
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Just got back from Thailand. Chartered a Sunsail boat for the regatta. The regatta was at Kata beach, surf possible, sand bottom. We paid Sunsail to watch the boat at night (dragging insurance) and we paid for racing insurance as it is a high risk business.

One charter boat ended up on the beach the first day and we were involved in a 4 boat prang at teh committee boat on day 6. If ya ain't rubbin ya ain't racing.

On my boat I only carry liability. Self insure your losses because they are definable. Insurance company for liability becuase the sky can be the limit.
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Old 10-12-2012, 19:35   #223
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Re: Published Costs of Cruising

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Originally Posted by Lagoon4us View Post
Advertisments on the AAMI theme come to mind where a small innocent action causes a DOMINO effect of damage costing thousands.

Marina's in my experience require insurance as a pre-requisite to enter their, in effect premises. You need to budget for this in some way for your own protection, can you imagine a throttle/gear-box jam/fire on board scenario where seconds count to avoid an AAMI style disaster???

We spend 75% of time on the hook cruising and the remainder in Port whether at a Quay or Marina not forgetting annual slipping. Insurance costs around $4,200/year.

Cheers
I always read where folks aren't paying much for insurance but $4200/yr seems on the high side. What does that cover? I am planning to finance a catamaran so will need full coverage. Thanks.
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Old 11-12-2012, 11:31   #224
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Re: Published Costs of Cruising

I got looking around at insurance companies, most only wanted weekend cruising sailors that kept there boats in marinas and never went outside of land. You can tell alot about the questions an insurance company asks. One company asked all the right questions, got back to me the next day for more info and came up with a quote the day after that. For Western US and Western Central America, upro 150nm off shore full time cruising/live aboard for 40yo wooden boat,full coverage for the boat, liability etc $752/yr http://www.imis.pro/
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Old 11-12-2012, 11:35   #225
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Re: Published Costs of Cruising

$450,000 For loss, anywhere in Med with $5,000 excess however our agent will do lot's better for worldwide on renewal in 2013.
Cheers
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