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**FrankZ** · 17-12-2009, 14:31

Quote:

Originally Posted by Ram

Im not sure if i buy that, if thats true why do they do a credit check when you get car insurance?

Your credit score is all about risk as I understand it. I have had potential employers do credit checks during the interview process. Bad credit is risky business.

Christian Van H · 17-12-2009, 14:52

Quote:

Originally Posted by Ram

Im not sure if i buy that, if thats true why do they do a credit check when you get car insurance?

I think it's simply to see if you have a history of being stable and paying your bils...and because they can.

forsailbyowner · 17-12-2009, 17:51

Insurance is a scam that makes billionaires by legislating mandates that tax the masses. I'm not a carrier and in my 25 years of sailing have never damaged anothers boat because I believe in due diligence and overly safe procedures on a day to day basis. Its the JERKS who take unnecessary risks and act in haste because they think they're covered that irk me.

Christian Van H · 17-12-2009, 18:03

Quote:

Originally Posted by forsailbyowner

Insurance is a scam that makes billionaires by legislating mandates that tax the masses.

Can I quote you when the transient marina operator asks for proof of insurance? I'm sure they'll let me right in and prepare a special slip for me...

**Ex-Calif** · 17-12-2009, 18:04

Quote:

Originally Posted by dana-tenacity

Can't follow your arithmetic, seems the big issue is insurance. So take liability if you absolutely must, sounds like it's cheap enough.

120 X 12 = 1440

Mooring = 1,000
Insurance = $400 (liability only)

Lostmt · 17-12-2009, 18:57

I don't believe its about credit and being an upstanding person. Its just another way to gain information on you. This information can be sold, traded or what ever. How do you know what the person you just gave permission along with your SS# is really doing with it????? YOU DON"T KNOW.

I've never found that I needed a credit score. I pay cash for what I want or do without. If my cash aint good enough to buy insurance then I look somewhere else.

Remember your SS# is a tracking #. We just don't have it tattooed on our arm YET.

Stillraining · 17-12-2009, 21:27

Quote:

Originally Posted by Ram

So with that said how do we protect ourselfs, there must be a way to know if we are really covered??

Possibly going through Lloyd's directly...forgo the middel man.

State side it is of coarse not as fishy or as difficult...I'm with Boat US..and although I'm not at all happy with how they handled my policy I am pretty darn pleased with there handling of my claim.

Stillraining · 17-12-2009, 21:36

Quote:

Originally Posted by Lostmt

I don't believe its about credit and being an upstanding person. Its just another way to gain information on you. This information can be sold, traded or what ever. How do you know what the person you just gave permission along with your SS# is really doing with it????? YOU DON"T KNOW.

I've never found that I needed a credit score. I pay cash for what I want or do without. If my cash aint good enough to buy insurance then I look somewhere else.

Remember your SS# is a tracking #. We just don't have it tattooed on our arm YET.

Sorry Lostmt you are wrong in this case...They have indeed adopted a credit score threshold..I know this for fact as I have recently been turned down for bonding on a job due to a dip in my score...Bonding is a different form of insurance but still insurance...My house insurance increased 200.00 per year for the same reason.....Life of the self employed...we are the scum of the earth in there eyes when it comes to down turns in the economy and poster children when things are booming.

Ram · 18-12-2009, 04:29

Quote:

Originally Posted by Stillraining

Possibly going through Lloyd's directly...forgo the middel man.

State side it is of coarse not as fishy or as difficult...I'm with Boat US..and although I'm not at all happy with how they handled my policy I am pretty darn pleased with there handling of my claim.

boat Us only has very limited coverage area!

Navicula · 18-12-2009, 05:16

here we go with the conspiracy theories

Lostmt · 18-12-2009, 06:23

Stillraining,
Sorry to hear about you being turned down. I wouldn't think in this day in time that the person that turned you down has any better score than you do. Just company policy.

Tack Off,
Its when we keep our head stuck in the sand that theories become reality.

Back on subject,
I wouldn't try to cruise on $500 per month. The best we figure that we can get by on is $800.00 with boat paid for. I know others doing on the same amount and having the time of their life.

osirissail · 18-12-2009, 06:48

Back to the original concept - living on $500/mo - It all seems to boil down to apples and pears - what are you talking about as "living on"? Forget all your fixed costs of medical and boat insurance, taxes, etc., etc., and you are left with food/drink and fuel. Then sure $500/month is fine. I spent 8 months anchored in Luperon, D.R. and could not spend $2000 for the whole period ($250/mo). That was food, beer, and harbor charges.
- - Very old boats are not insurable so that eliminates a serious expense. If the boat and you can "sail" and only use diesel to get far enough out of harbor to sail - and - you are "off the wind" that cost goes drastically down. I don't think Columbus has many expenses beyond food and musket balls and powder.
- - For those still connected to the modern world and have boat bank loans, etc., etc. that $500/month multiplies by 4 to 6 times.
- - Living down here in the eastern islands, locals can live on a few dollars per day - but they don't live as long. Medical facilities are minimal and centered around fixing ordinary health problems. Get a serious or complicated problem and they just start taking measurements for your casket. What North Americans consider "ordinary" medical equipment and care is non-existent down here or the local medical personnel have no idea of how to use it or interpert the results. That means "med-evac" insurance and/or the ability to buy airline tickets on short notice.
- - Which brings up "credit reports". It is supposedly illegal for the Governments to "track you" in the USA at least. But it is okay for private entitities to track you. So the "big-3" credit reporting agencies have total records on anything and everything you have ever done from birth, schooling and grades, to all criminal/civil and also all your financial transactions - everything that you have done that has a "paper trail." That information along with your current record of financial transactions is used to determine your "credit score." Used to be as a business entity you could purchase from the credit reporting agencies anything from the total dossier to just what interested you. Now, they use the "credit score" as a simple indicator of financial and social risk.
- - You will "have to" have a credit card to purchase an airline to anywhere involving the USA. Trying to pay in cash will get you arrested as a "potential terrorist." Same with car rentals, hotels and dozens of other activities. Inactivity in using credit or other financial activity lowers your score.
- - By the way back in the Jimmy Carter regime, your Social Security Number was transformed by Federal Law into your USA Official Identificaton Number. After a phasing in time period every person born in the USA is issued the number automatically, no legal exceptions. Failure to provide the number upon authorized request is a Federal Crime and any financial transaction can request the number or legally refuse you the service if you fail to produce the number. The rest of the world has had national identity numbers for many more years and is used to showing their "papers" when requested.
- - So living onboard a sailing boat for $500/month is possible if you stay out of all first world countries, their financial, medical and transportation facilities, and never get sick or have a medical condition requiring modern medical techniques.
- - Actually, that is a major factor in a lot of full-time live-aboard cruisers or what could be called "waterborne" ex-pats. Of course, you will find thousands of "ex-pats" living in 3rd-world type countries just because they cannot deal with the total lack of freedom and privacy in the major 1st world countries especially the USA.

Allan S · 18-12-2009, 08:42

What a long and volotile thread. Yes , I read the whole thing. It was quite telling on how people really think about sailing, and who should be sailing...lol. Not to name names but just because one doesn't drive a Lexus, wear a rolex and sail a Swan doesn't mean one can't sail.

In 6 1/2 years my wife and I will be sailing on $1600 a month, Canadian! We will have THAT character boat that everyone talks about, it will look rough around the edges. It won't shine, the paint will be patchy, but the hardware will be over engineered. Those in the know will see the strength and safety in my ugly duckling...

We have the boat narrowed down to 3 choices which will remain unspecified as that will most likely change soon enough.

Things will probably be tight for sure, but even with my diabetes and colitus I will go ahead. I know my drug plan from my military days goes a long long way to help mitigate costs but still, $1600 take home is what we will live off......Ahhh, I can can see the clear blue water as I type...

So, for those who want to sail on the cheap don't let people beat you down, go for it and we'll see you out there in a few years....Allan

Ram · 18-12-2009, 09:01

Quote:

Originally Posted by Allan S

What a long and volotile thread. Yes , I read the whole thing. It was quite telling on how people really think about sailing, and who should be sailing...lol. Not to name names but just because one doesn't drive a Lexus, wear a rolex and sail a Swan doesn't mean one can't sail.

In 6 1/2 years my wife and I will be sailing on $1600 a month, Canadian! We will have THAT character boat that everyone talks about, it will look rough around the edges. It won't shine, the paint will be patchy, but the hardware will be over engineered. Those in the know will see the strength and safety in my ugly duckling...

We have the boat narrowed down to 3 choices which will remain unspecified as that will most likely change soon enough.

Things will probably be tight for sure, but even with my diabetes and colitus I will go ahead. I know my drug plan from my military days goes a long long way to help mitigate costs but still, $1600 take home is what we will live off......Ahhh, I can can see the clear blue water as I type...

So, for those who want to sail on the cheap don't let people beat you down, go for it and we'll see you out there in a few years....Allan

its easy to do on $1600 a month thats a far cry from $500 a month!