Cruising without insurance, how tough?

[hellosailor]

Sounds like a car insurance agent who also covered a boat under 28' OAL.

Boating insurance is sold (rated) by geographic coverage, if your insurer stops at your state line, and requires you to stay IN hurricane country...I hope they gave you a good rate![g]

[Tellie]

Originally Posted by hellosailor

Sounds like a car insurance agent who also covered a boat under 28' OAL.

Boating insurance is sold (rated) by geographic coverage, if your insurer stops at your state line, and requires you to stay IN hurricane country...I hope they gave you a good rate![g]

HS, I think, scracth that, I know, "good rates and insurer" is an oxymoron.

[Dziadek Jacek]

Can anybody recommend insurance company to get only 3rd party ( liability ) covering Europe and Americas, online? I' ve been trying for hours on internet. My sailboat is under way or anchored some 10 month a year but some time I have to go to a marina or a boatyard....

[henryk]

Dziadek Jacek! If i would have your money ,I wouldn't bother with the insurance ,when one sinks, just buy another one ,
Regards ,future dziadek Henryk

[Mike Banks]

He only wants 3rd Party property damage--not comprehensive. He is not bothered about his own boat--no doubt he will do as you suggest--but in the meantime there is other damageto other boats and property one needs protection cover for.

[Dziadek Jacek]

Hi dziadek Henryk, my insurance is 5 anchors, spare parts, 15 sails and luck (some call it experience) but no piece of paper they required more often when you need to go to a marina so I need 3rd party insurance. All companies I've inquired wanted to sell me comprehensive one, that I do not want and can not afford.
Do you speak Polish, I have some Polish sailing friends in BC.
Pozdrawiam, dziadek Jacek

[Chiroeurope]

There are a few insurers out of the UK that will insure world wide third party but they have some really funky rules even beyond the hurricane time slot, though saying that I remember one that did a third party world wide at a good rate will have to go look it up again (small children and reset switches). I have been told by a few friends that there are some really good French firms that have pretty good rates that do a very reasonable third party insurance plane that meets all the EU requirements and US as well. Will check with them again when I can as they have started their season and don't hit the e-mail on a regular basis. Hope that little bit helps and gives something of a direction. We are still looking at that as here in the EU (including UK) it is pretty much going the way of being mandatory.

Michael

[sandy daugherty]

Yes Virginia, there are good insurers, and happy claimants. Before Isobel took a turn up the Chesapeake Bay, I owned a Simpson designed home built wooden catamaran worth more than twice what I could earn in a year. After Isobel passed, I had a pile of wood splinters perched perilously on two pilings at the end of the neighborhood dock, threatening to leak 55 gallons of gasoline into a national wildlife reserve. I also had a comprehensive policy with Markel American that got me an Adjuster in two days, divers and tow boats inside a week, and a check for the entire agreed value of the vessel and all associated recovery expenses, in time for the Annapolis Boat Show in October! Was that policy expensive? YES. Was it wasted money? NO. Did the Insurance Company try to cut corners, or wiggle out of some of the expense? NO. Was I the perfectly blameless victim of an act of God? Not really. I had a previous substantial claim for a very expensive lightning strike. I had considered taking the boat three hours upwind to have it hauled out rather than leave it in the water, and waffled to long to do it. Maybe your insurance company would have used that as a reason to withhold payment, but Markel did not. Nor did they cancel me. They did not keep me because I was a rich and famous war hero, so my only explanation is that they are a responsible and responsive Insurer. Maybe they are the only one, but at least now you know there is one good insurance company. I'm very glad to still have insurance, first to protect and repair my most significant possession, and second to protect everyone else from my ignorance, incompetence, or just bad luck. Why?

Can your wages be garnished for being uninsured? Yes they can. I know three former Captains who will be paying for not being adequately insured for the rest of their lives here in Maryland. Every time they make a buck there's a Sheriff at the door to take part of it. They remain underemployed because they bitterly refuse to make any more money that will just go to the state or the insurance companies. They are doomed to be victims for the rest of their lives. I'm sure there are a hundred more who have moved and assumed different names to try to escape judgements against them, for back child support, breach of contract, or other examples of trying to be litigation proof. They are a long way from carefree.
Believe what you will, but don't expect a Judge to be amused.

Insurance has saved me 6 figures, at a cost of 4 figures. Go figure.

[hellosailor]

Sandy-
"threatening to leak 55 gallons of gasoline into a "
I don't know why but your comment just struck a chord today. I wonder how many fuel leaks after wrecks could be stopped if we added "Close and secure the fuel tank valves" to the list of storm prep items? Securing both the vent and regular valve, whenever the vessel was "secured for port".

[gewans]

Originally Posted by Joli

Lotta words.... but how are you gonna protect and PAY for the guy next to you if your boat damages his boat? Aren't you obligated to project your neighbor just as he is obligated to protect you?

This mentality is the problem, who's going to pay for mine. Our society has become obsessed with trying to protect everyone at all times for all occurances and so on. What ever happened to understanding that there is risk in all we do, if you don't want the risk don't do it. That's the way it was before the world went nuts suing everybody for everything and making ins. co's. and attorneys rich in the process. How about this to those who demand insured's, maybe YOU can't afford your hobby if YOU can't afford to repair your equip. from accidents.

[Dale]

Originally Posted by gewans

This mentality is the problem, who's going to pay for mine. Our society has become obsessed with trying to protect everyone at all times for all occurances and so on. What ever happened to understanding that there is risk in all we do, if you don't want the risk don't do it. That's the way it was before the world went nuts suing everybody for everything and making ins. co's. and attorneys rich in the process. How about this to those who demand insured's, maybe YOU can't afford your hobby if YOU can't afford to repair your equip. from accidents.

While I agree with you, to some extent...

Unfortunately, we have a pretty expensive hobby and others around us have even a more lavish budget than some.

//Yay. My 1st post here.

[hellosailor]

" if YOU can't afford to repair your equip. from accidents."
Well, if you join NASCAR you agree beforehand to deal with your own problems no matter who bumped you.

But in the Real World, if somebody injures me, my cattle, or my property? Damn straight, I expect THEM to pay for it. Only a sucker says "Gee, you ran over my legs and broke them, have a nice day!"

If folks don't want irresponsible neighbors and as a society or community they enforce social moires like "Thou Shalt Have Insurance or Post A Performance Bond" that's a societal choice. Don't like it? OK, either leave or don't be surprised if they stone you to death then cast you out. That's the way it has always worked and there's no sign it is ever going to change.

[gewans]

Originally Posted by hellosailor

" if YOU can't afford to repair your equip. from accidents."
Well, if you join NASCAR you agree beforehand to deal with your own problems no matter who bumped you.

But in the Real World, if somebody injures me, my cattle, or my property? Damn straight, I expect THEM to pay for it. Only a sucker says "Gee, you ran over my legs and broke them, have a nice day!"

If folks don't want irresponsible neighbors and as a society or community they enforce social moires like "Thou Shalt Have Insurance or Post A Performance Bond" that's a societal choice. Don't like it? OK, either leave or don't be surprised if they stone you to death then cast you out. That's the way it has always worked and there's no sign it is ever going to change.



But that's not the way it has always been, your talking about the new way (@ the last twenty years) things are. I'm not completly opposed to ins. I'm just saying that there should be a happy medium some how. Trying to save ourselves from every bonehead occurance thru insurance is just not the awnser. Besides if you look into unsettled claims from the last few disasters you will be amazed at the number of people who have not been able to get the ins. co's. to agree to a fair settlement.