Originally Posted by Lock
I can't get insured to sail south of the tropic of cancer. How many people are sailing in the Caribbean
without insurance on their vessel? I imagine it is suicide during hurricane
season and peak tourist season with a lot of green sailors drunk on charter
boats. Has anyone did a risk assessment of sailing down there on a medium sized yacht valued under 100k?
As asked by others - What is the boat? F.C./Wood or what? Age makes a difference. And of course, a survey
to establish its seaworthiness. Is the boat homemade or a "one-off" versus from a main stream boat manufacturer. If there is no record
or "history" of the boat from other risk insurers it is going to be difficult for the insurance company to assess the risk and set a premium.
- - As to sailing with or without insurance, it is more a matter (eliminating all instances of boats with mortages/loans) of whether you can personally absorb/ignore financially the loss of the vessel (assuming you survive the loss).
- - Risk assessment in the Caribbean
is not higher or lower than most other places in the world - except for the potential for damage during a Tropical Storm. Other than the BVI's places like the Chesapeake Bay
or probably the area around the Channel Islands and other major sailing centers in Europe
are probably just as collision
- - Even "named storms" are not a major threat to boats if the owner properly prepares the boat and take care to put it in a place that will offer protection from the storm. There are probably tens of thousands of boats in the Caribbean and not that many are lost
to "named storms" except for those boats neglected or where the owner really wouldn't mind loosing the boat.
- - Even then being "inside the box" only means you are not insured for that particular period of time/season - the rest of the year you are insured. The fine print in each policy is where you find out exactly what is and isn't covered. Don't forget the "appendix's" - what is stated in back and white in the main body of the policy can be negated by an appendix.