Does insurance really not pay up?

[wholybee]

My only experience with an almost claim. I had some rigging damage the rigger suggested would be covered by insurance. This was leading up to my participating in the Pacific Cup, and subsequently my circumnavigation. I opened the claim. Before the claim was settled, I was told that I could not obtain insurance for the Pacific Cup. I was uninsurable by any company I called for 3 years. I had to cancel the original claim before they paid out first.
Even 4 years later, when I returned from my circumnavigation, I was questioned about it and had to provide a letter stating that the claim was never paid out before I could get a new policy.

So, at least from my experience, insurance is a scam that you can't ever use, unless you intend to not own a boat afterwards, or are prepared to be uninsured. Unless the boat sinks, whether or not they pay out seems a non issue.