Iím close to pulling the trigger on a ďstarterĒ boat
- 30 foot coastal cruiser, 30+ years old.
is low enough that, if itís a total loss, Iíll cope.
As part of the planning, Iím looking at insurance
and basically have three options:
Comprehensive - includes payment for a total or partial loss of the yacht and systems (pretty much for any reason)
Third Party, Fire and Theft - covers losses due to fire and theft only
Third Party only
Obviously the cost goes up as you progress through the levels, with Comprehensive being about 3 times the cost of Third Party only.
The likelihood of a total loss due to my incompetence or natural causes is very low. There is always the risk of someone else causing damage of course. Also, with an older boat
, things like standing rigging
are more likely to fail.
Any thoughts on the best way to go?
If thatís too broad a question, then what are the factors I should be taking into account?