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Old 11-12-2012, 13:07   #226
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Re: Published Costs of Cruising

One of the advantages of not having a "six figure" boat.....Not only can you pay for it faster (you are spending more time sailing instead of working to make money to pay the bank for your "high end boat", you are not paying through the nose to insure it. It's my home, so I if I loose it I loose everything, that is why insurance is important to me.
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Old 11-12-2012, 13:11   #227
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Re: Published Costs of Cruising

It's very alien for an Australian to finance a boat, here if it floats .ucks or flies the banks say "RENT IT" don't finance it!!!!!
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Old 11-12-2012, 13:15   #228
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Re: Published Costs of Cruising

Has anyone cruised the South Pacific with reasonable insurance. Reasonable meaning not owning 1/2 the BVI's :-)

My boat is Canadian.
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Old 11-12-2012, 13:17   #229
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Re: Published Costs of Cruising

In the US most people don't own houses, they pay the bank for the pleasure of saying they own their own piece of dirt when they don't. Banks allow people to "buy" the appearance of more expensive lifestyle.
I have rotten credit, because everything I own or have owned I paid for in cash. I don't have much but what I have is mine.
Just because I'm American, doesn't mean I have to act like one.
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Old 11-12-2012, 15:12   #230
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Re: Published Costs of Cruising

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In the US most people don't own houses, they pay the bank for the pleasure of saying they own their own piece of dirt when they don't. Banks allow people to "buy" the appearance of more expensive lifestyle.
I have rotten credit, because everything I own or have owned I paid for in cash. I don't have much but what I have is mine.
Just because I'm American, doesn't mean I have to act like one.
Funny how the 2% get all bent out of shape at the .01% of the population of the planet who don't buy into the pyramid scheme that keeps the masses looking skyward in the forlorn hope of ever making it into the master class.

Always reckoned Cruising was a leveler. The ones that we have met over the years are usually not mega rich, have boats that have problems and make do with what they can. You always get the mega rich but then they rarely descend to the rough part of the dock:-)
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Old 11-12-2012, 16:04   #231
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Re: Published Costs of Cruising

I'm no where near the 2%, have excellent credit, pay for almost everything with my credits cards (when even McDonald's starting taking them I just stopped carrying more than $20 cash), haven't paid any credit card interest or fees in years, on averge I make $100+ per month in rewards cash by using my credit cards.

Guess I'm just a bad person!

But don't know what having a credit card has to do with the thread really.
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Old 11-12-2012, 16:40   #232
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Re: Published Costs of Cruising

A couple of months ago, we did a quick survey on a sandy beach during a potluck in the Pacific. Exactly 50% were insured while the other 50% were not. These were real cruisers out in the Cook Islands, dodging through unbouyed coral passes etc, not marina bunnies in a litigious country.

Some of the insured boats had crappy anchoring gear. One was using a spinnaker sheet to tie his stern off to a coconut tree because they didn't have decent lines long enough and strong enough for the purpose. ALL the uninsured boats had excellent gear.

Check out what happened in the floods of the Burnett River. The insured people ran for the hills, many of their abandoned boats got loose and headed downstream causing havoc where the uninsured boat owners grabbed them, re-anchored them, pushed them away from damaging their own boats etc.

This is just anecdotal, but you can make your own conclusions.
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Old 11-12-2012, 18:01   #233
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A couple of months ago, we did a quick survey on a sandy beach during a potluck in the Pacific. Exactly 50% were insured while the other 50% were not. These were real cruisers out in the Cook Islands, dodging through unbouyed coral passes etc, not marina bunnies in a litigious country.

Some of the insured boats had crappy anchoring gear. One was using a spinnaker sheet to tie his stern off to a coconut tree because they didn't have decent lines long enough and strong enough for the purpose. ALL the uninsured boats had excellent gear.

Check out what happened in the floods of the Burnett River. The insured people ran for the hills, many of their abandoned boats got loose and headed downstream causing havoc where the uninsured boat owners grabbed them, re-anchored them, pushed them away from damaging their own boats etc.

This is just anecdotal, but you can make your own conclusions.
Wasn't there anyone in the group who just had liability?
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Old 11-12-2012, 19:10   #234
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Re: Published Costs of Cruising

Not sure about liability insurance. We were asking about full coverage.

But it was interesting to see that the uninsured people were more prudent and responsible sailors with better gear. Y

You can put $1000s into insurance or buy bigger anchors and more chain. Some boats do both, but if you can't which one are you going to choose?
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Old 11-12-2012, 19:17   #235
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Not sure about liability insurance. We were asking about full coverage.

But it was interesting to see that the uninsured people were more prudent and responsible sailors with better gear. Y

You can put $1000s into insurance or buy bigger anchors and more chain. Some boats do both, but if you can't which one are you going to choose?
My point is that someone said liability is a matter of basic responsibility and several others have countered that insurance makes people careless. Apples and oranges.

I also don't understand the thinking. I don't drive more recklessly just because my car is covered; it would be a PITA to have to replace or even major repairs.
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Old 11-12-2012, 19:26   #236
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Re: Published Costs of Cruising

Implying that those without insurance are more seamanship like than those with insurance is silly. Any boat that has made it to the Cooks has already put thousands of miles under her keel to get there. Maybe a comparison of boats in Puerto Vallarta/La Cruz in Mexico might be better. There I'd say those without insurance generally can't afford it. Their seamanship skills are a seperate issue. I've seen plenty of uninsured cruisers with 35 lb CQRs and rusty chain beyond recovery. So what.
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Old 12-12-2012, 05:53   #237
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Re: Published Costs of Cruising

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Maybe a comparison of boats in Puerto Vallarta/La Cruz in Mexico might be better.

I thought insurance in Mexico was a requirement.
The better comparison might be in any local mooring field or marina. I know at my marina even the boats on moorings are "required" to have liability insurance, but I bet since a copy of the policy isn't required with your mooring agreement many don't have.
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Old 12-12-2012, 05:56   #238
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Re: Published Costs of Cruising

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My point is that someone said liability is a matter of basic responsibility and several others have countered that insurance makes people careless. Apples and oranges.
I for one said this, just to find out what flaming elitists a-hole I was based on responses!
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Old 12-12-2012, 06:22   #239
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Not having insurance is my choice. You want to be insured against risks related to me then buy some. Your risk, your insurance, your piece of mind, your cost. Me buy insurance for you? That's nuts.

When I drive, which is very rare, I have insurance that covers risk from uninsured drivers. It's for my benefit. It's at my cost. Makes sense to me.
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Old 12-12-2012, 06:53   #240
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Re: Published Costs of Cruising

You know, at the end of the day if another boater does or doesn't have insurance then that is his or her business, until that person runs into my boat, then it becomes my business as well.

If you are willing and able to pay for the damage then I don't care if the money comes from your pocket or your insurance company's pocket, as long as it's not my pocket.
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