is Liveaboard Insurance more expensive?

[TitoSoto]

Do insurance companies charge more or less for Liveaboard insurance?

I have regular insurance, but do liveaboard my boat... Hence the question.

Am I better off moving to a Liveaboard specific insurance? I really want to pay as little as possible, and don't have anything aboard that is worth millions anyway.

[sailorboy1]

Originally Posted by TitoSoto

Do insurance companies charge more or less for Liveaboard insurance?

I have regular insurance, but do liveaboard my boat... Hence the question.

Am I better off moving to a Liveaboard specific insurance? I really want to pay as little as possible, and don't have anything aboard that is worth millions anyway.

Does your current insurance say you can not live aboard your boat? I had a policy a few years ago that mentioned it, but my current policy doesn't say anything.

[a64pilot]

I called my insurance guy and asked "What about when we move aboard"
His answer was we don't, we are on an extended cruise if asked. I guess for some reason that he couldn't answer that living aboard is frowned upon by insurance companies, but extended cruising isn't?

Oh and nowhere do I see anything on the policy that addresses it.



Sent from my iPad Pro using Cruisers Sailing Forum

[sailorboy1]

Originally Posted by a64pilot

I called my insurance guy and asked "What about when we move aboard"
His answer was we don't, we are on an extended cruise if asked. I guess for some reason that he couldn't answer that living aboard is frowned upon by insurance companies, but extended cruising isn't?

Oh and nowhere do I see anything on the policy that addresses it.



Sent from my iPad Pro using Cruisers Sailing Forum

I bet calling yourself a "cruiser" wouldn't cut it if you have a regular job and have been at the same marina a while with no other address that can be supported. If you are going to have insurance it is not a good idea to start thinking you can work around or trick your insurance company. All you are going to end up finding out is that you paid your policy for years, but it isn't going to pay out when you need it.

[Ungvar]

I had to change insurance companies when I moved aboard because my insurance companies would not insure live aboard at any price.

The second insurance company charged a flat annual premium of $500 on top of what I was paying for general insurance.

That was Canada.

Sent from my XP7700 using Cruisers Sailing Forum mobile app

[a64pilot]

Originally Posted by sailorboy1

I bet calling yourself a "cruiser" wouldn't cut it if you have a regular job and have been at the same marina a while with no other address that can be supported. If you are going to have insurance it is not a good idea to start thinking you can work around or trick your insurance company. All you are going to end up finding out is that you paid your policy for years, but it isn't going to pay out when you need it.

I won't have a job I hope, and the intent is to keep moving, if we settle in one spot permemantly and don't cruise, most likely would buy a house.
In a little quandary as to what to do, my insurance agent tells me to call it extended cruising not Liveaboard.
I got the impression that a Live aboard is someone who lives on their boat, in one place whether at anchor or in a Marina and commutes back and forth to work everyday, and for whatever reason insurance companies don't like to ensure them, I assume loss rates?

Someone who cruises is a person that leaves their land home, gets on a boat and travels on their boat, sometime for months, sometimes for years,
I fit this model, except I sold the house and lands and invested the money

[newhaul]

Personally I would follow the recommend of your agent.
I'm with foremost and they don't do liveaboards but they do do full time cruisers. All you need is an address not at a marina to have paperwork sent to . My agent suggested either a relatives address or the best would be a p.o. box for corospondence with the insurance company.

[tdoster]

READ YOUR POLICY. Does not matter what everyone says, including your agent unless you get it in writing. The policy is the contract you live by.

If living aboard is specifically excluded, you can't. If it (including all amendments/ endorsements) does not say anything about it, then it is allowed.

Boat Policies include "All Perils" unless expressly excluded.

Also, if you financed your boat, make sure your finance contract does not expressly exclude living aboard as many do.

[Cadence]

Originally Posted by sailorboy1

I bet calling yourself a "cruiser" wouldn't cut it if you have a regular job and have been at the same marina a while with no other address that can be supported. If you are going to have insurance it is not a good idea to start thinking you can work around or trick your insurance company. All you are going to end up finding out is that you paid your policy for years, but it isn't going to pay out when you need it.

Ditto. Or if they pay for anything, even minor, they will drop you like a rock and then you will have to pay a premium for any type, if some one will write you.

[tdoster]

Originally Posted by newhaul

Personally I would follow the recommend of your agent.
I'm with foremost and they don't do liveaboards but they do do full time cruisers. All you need is an address not at a marina to have paperwork sent to . My agent suggested either a relatives address or the best would be a p.o. box for corospondence with the insurance company.

The problem with this advise is when your boat sinks at the dock, if the adjuster can't blame it on maintenance exclusion, it is easy enough for them to figure out you are living aboard and how long you have been at the same marina.

Email your agent and see if you can get them to reply with that advise in writing.

[nauticalnomad]

Define liveaboard... I have been staying on my boat for 12 years now.. I do not live on it.. That is my statement!

[tdoster]

Originally Posted by nauticalnomad

Define liveaboard... I have been staying on my boat for 12 years now.. I do not live on it.. That is my statement!

I don't think anyone can answer that other than how it is defined and the language on the policy exclusion (if it is excluded) and definitions all contained in that contract called an Insurance Policy between you and your insurer.

You can define it any way you want, but at the end of the day, the courts could care less what you think or feel it was defined as. The thing I find absolutely ludicrous is people who actively defraud on the front-end and wonder why it is so hard to get a payout on the back end after a loss.