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Old 02-11-2013, 11:07   #1
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One day worth of insurance for a haulout

Does anyone have a recommendation for a company that would insure our 36' cutter for a day for a haul out? We're in the United States, and have always been of the self-insured persuasion, but the boatyard requires insurance. Any ideas? Even a month would be okay, if reasonably priced.
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Old 02-11-2013, 11:13   #2
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Re: One day worth of insurance for a haulout

Likely (if she’s wood) the yard is concerned about breaking her back during haul out, resulting in loss of revenue from their haul out well and related costs of the clean-up. Perhaps they would be comfortable with a “security deposit” sufficient enough to cover their losses. I have had a similar issue with a boat I used to captain; the owner wanted her hauled and I couldn’t find a yard within 100nm that would consider it. It cost $25K in the form of a surety bond for the duration of the haul out, but a local yard was happy to lift her then.
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Old 02-11-2013, 11:19   #3
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Re: One day worth of insurance for a haulout

She's fiberglass, and I'm not sure if the boatyard is even going to check in detail--last time we used the same yard they didn't. But this time she's being driven a couple of miles down the road. I think it's just the policy they have on the books, for any boat and any haul. $25k is a little bit too steep considering the boat cost less than that.
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Old 02-11-2013, 11:32   #4
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Re: One day worth of insurance for a haulout

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$25k is a little bit too steep considering the boat cost less than that.
I don’t believe the yard cares a lick for coverage for damage or replacement, but rather liability CAUSED by your boat…. $25K is a pittance!

Their concern is your boat having some sort of failure that ties up their ability to lift others, and the cost to clean up the mess, as most owners of lesser-valued boats who self-insure, tend to disappear when feces hits the ventilating device. The lesser the value of the hull, the more concern a yard has; boats can rather quickly go from an asset to a liability!
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Old 02-11-2013, 11:47   #5
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Re: One day worth of insurance for a haulout

Call BoatUS and ask them.
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Old 02-11-2013, 11:55   #6
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Re: One day worth of insurance for a haulout

You only need liability insurance which is quite cheap. Frankly, you are a fool for not having liability insurance. Even seemingly minor mishaps can result in Million Dollar claims with all the predatory attorneys and greedy clients looking to make a buck off a rich yachty.

Try Progressive. They were a no hassle insurer for my last boat and were quite cheap. Don't insure for just a day though.
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Old 02-11-2013, 12:11   #7
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Re: One day worth of insurance for a haulout

I agree that the boatyard cares only about liability caused by any mishaps--and if my boat were to damage a million-dollar yacht they wouldn't be able to get much blood out of this stone. We tried BoatUS last time and they felt expensive, but Progressive is giving me a quote of $125 for a year's worth of liability. They were just getting into boat insurance when we bought our last boat, so it wasn't an option then, but it seems fairly reasonable now.

As far as foolishness is concerned--almost all insurance is a bet against oneself. Does believing that make me a fool? Or someone who hasn't enslaved herself to attorneys, million-dollar claims, greedy clients, and fear? And is thus able to live a life off of the grid and free of debt, mortgages, and expectation?
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Old 02-11-2013, 12:25   #8
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Re: One day worth of insurance for a haulout

Mellissa, I think that the comment about not having insurance was in concern for others. If you determine that you don't need comprehensive insurance on the boat to protect yourself....so be it. However, if as you say, you don't have the means to cover claims against you from others whom you may do damage to...shame on you.Thats what liability insurance, which is relatively cheap, is for.
If you want to live off the grid, no problem. However, come into contact with another boat, or leak oil and fuel, and you just became someone elses problem. Most of us have enough problems of our own without having to cover yours! Foolish was probably not the word to use if you can't get blood from a turnip, but selfish would certainly describe it.
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Old 02-11-2013, 12:47   #9
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Re: One day worth of insurance for a haulout

Insurance isn't "betting against your self," rather it is "risk sharing." That is, you accept some risk and lay off the rest on a large pool of other like individuals doing the same. While carrying "hull" insurance is a personal choice and I can make a good case for buying more ground tackle instead, carrying P&I (Protection and Indemnity, or marine liability) is a no brainer. Many things that aren't exactly "your fault" can be very expensive without the insurance company paying the lawyer to prove it wasn't…

For a real expert on the speak to Al Golden of IMIS. He is a cruiser who started an insurance brokerage to improve access to insurance that worked for cruisers… something he had trouble finding when he was out years ago.
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Old 02-11-2013, 14:32   #10
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I find it rather outrageous that someone would be called a fool and selfish for not buying into something which only in recent years been sold to the public as a civic "responsibility". This whole scheme has been sold to us by lawyers and insurance companies for, mainly, their own benefit.

Most insurance IS betting against yourself; life insurance, you bet you'll die before the insurance company thinks you will; car insurance, you bet you'll get in an accident sooner than the insurance company thinks you will.

If the logic being used to justify requiring insurance were really logical, you would need to show proof of insurance to go into a gas station, or into any business or store for that matter. If you are not carrying such insurance then you must be a selfish , irresponsible fool.
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Old 02-11-2013, 14:46   #11
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Re: One day worth of insurance for a haulout

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Originally Posted by Tantalus View Post
I find it rather outrageous that someone would be called a fool and selfish for not buying into something which only in recent years been sold to the public as a civic "responsibility". This whole scheme has been sold to us by lawyers and insurance companies for, mainly, their own benefit.

Most insurance IS betting against yourself; life insurance, you bet you'll die before the insurance company thinks you will; car insurance, you bet you'll get in an accident sooner than the insurance company thinks you will.

If the logic being used to justify requiring insurance were really logical, you would need to show proof of insurance to go into a gas station, or into any business or store for that matter. If you are not carrying such insurance then you must be a selfish , irresponsible fool.
I believe that anyone that does not have liability insurance nowadays is a selfish fool. I realize that this is strong language but, having seen the damage done to innocent parties in boat accidents that is the only way to put it. Anything can happen on the water and it usually does. What if someone hits your boat and they have no liability insurance. So what if they are the most skilled and cautious sailors. It can still happen. And if it happens to you, you will be the first one to scream.

As for the OP's comment re "getting blood out of a stone", what the OP really is saying is I can wreck your boat and you're stuck with it. I will go on my merry way and leave you without a boat or recourse. If that's not selfish, what is.
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Old 02-11-2013, 15:50   #12
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Re: One day worth of insurance for a haulout

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I believe that anyone that does not have liability insurance nowadays is a selfish fool. I realize that this is strong language but, having seen the damage done to innocent parties in boat accidents that is the only way to put it. Anything can happen on the water and it usually does. What if someone hits your boat and they have no liability insurance. So what if they are the most skilled and cautious sailors. It can still happen. And if it happens to you, you will be the first one to scream.

As for the OP's comment re "getting blood out of a stone", what the OP really is saying is I can wreck your boat and you're stuck with it. I will go on my merry way and leave you without a boat or recourse. If that's not selfish, what is.

Well said Rick!
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Old 02-11-2013, 16:09   #13
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Quote:
Originally Posted by Vasco View Post

I believe that anyone that does not have liability insurance nowadays is a selfish fool. I realize that this is strong language but, having seen the damage done to innocent parties in boat accidents that is the only way to put it. Anything can happen on the water and it usually does. What if someone hits your boat and they have no liability insurance. So what if they are the most skilled and cautious sailors. It can still happen. And if it happens to you, you will be the first one to scream.

As for the OP's comment re "getting blood out of a stone", what the OP really is saying is I can wreck your boat and you're stuck with it. I will go on my merry way and leave you without a boat or recourse. If that's not selfish, what is.
So how much insurance should someone else be required to carry to cover your assets? Why, if your assets are so valuable to you, should it not fall on you to insure them for the appropriate amount?
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Old 02-11-2013, 16:24   #14
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Re: One day worth of insurance for a haulout

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So how much insurance should someone else be required to carry to cover your assets? Why, if your assets are so valuable to you, should it not fall on you to insure them for the appropriate amount?
Personally, I have both liability and comprehensive because I feel it is a fair bet for me.

I would hope that if someone of like mind to you t-bones you that the two of you can have a drink and discuss how much you have saved in insurance. While your boat is sinking with no recourse.

I would also hope that if an insured boater t-bones you that you let them have a pass as well. If you don't believe in it I would think that you would not want to take that dirty insurance money! Or is it always someone elses responsibility?
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Old 02-11-2013, 16:37   #15
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Re: One day worth of insurance for a haulout

Until someone designs boats with bumpers, like kiddies bumper cars, you need to buy insurance. It may not be pleasing to the eyes, and may not happen in my lifetime...just imagine a reinforced hull covered all over with built-in protective fenders..."Look Ma, the boat bounced back from a collision without a scratch!"

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