Shopping for insurance - admit it's a liveaboard or not?

[pdxgrl33]

Originally Posted by boatman61

come on folks.. you think anyones gonna come down and check..??
Duhhhhh..!!

Recreational insurance coverage clearly excludes residential status, voiding coverage and claims. Not worth the risk, IMO.

[boatman61]

I guess its all down to whether they plan to travel.. or use it as a houseboat.. in which case a Winnebago or trailer would be a better idea.
Just glad I don't live in such a restrictive country..

[pdxgrl33]

Originally Posted by boatman61

I guess its all down to whether they plan to travel.. or use it as a houseboat...

Both! With the appropriate insurance!

[sailpower]

I'm kind of surprised that a marine lender will finance a liveaboard.

[sailorboy1]

the moral is that the internet is full of stories

[sailnow2011]

Originally Posted by pdxgrl33

Hello All:

We're about to buy our first liveaboard (40' Bayliner). Just received a very clean survey back, with all experts saying we've found a very solid boat. This boat will be our residence, docked at a marina.

We are receiving mixed messages about insurance shopping, with some people saying that we must disclose that it will be a liveaboard, and others saying not to tell and call it a recreational boat. We will be financing the purchase, and some have suggested that the insurance company will speak to the lender and the deal could fall through if we disclose that it's a liveaboard. We're concerned about having the correct insurance. So..... what say you? Thanks very much!

Bayliners are not worth any real money, and you don't need one to liveaboard. Check out any number of designs that will cost less, do not need to be financed, and are much more comfortable at the dock. Such as a small houseboat.

[s/vfootloose]

Many insurance companies (especially sub standard ones) exclude drivers not on policy. So if you are driving a vehicle insured this way you and the person who has the insurance won't be covered

[pdxgrl33]

Originally Posted by sailnow2011

Bayliners are not worth any real money, and you don't need one to liveaboard.

Well, thanks for the input, but our offer is in progress, we like the boat and the survey was pretty clean. Guess we'll see if we made the right choice or not.

[pdxgrl33]

Originally Posted by sailorboy1

the moral is that the internet is full of stories

Indeed!

[pcmm]

Originally Posted by sailpower

I'm kind of surprised that a marine lender will finance a liveaboard.

When I financed my 34' sailboat 18 years ago (as a liveaboard) The financing company didn't ask what the intended use of the vessel was. and that was RBC ( Royal bank) who isn't known for throwning money around. There's a reason they regularly are the most profitable of the big banks!

My last 2 boats I've purchased without financing ( but weren't liveaboards) this last one though will be in a few years. but no financing this time

[ranger42c]

Originally Posted by sailnow2011

Bayliners are not worth any real money, and you don't need one to liveaboard.

Pretty fast and loose, with that description.

There are Bayliners (16-24' runabouts), and then there are Bayliners (25-35' express boats, and then there are Bayliners (35-50' bridge boats, newer ones mostly branded Meridian). Cost and efficacy obviously varies.

Sounds like OP's target suits the mission.

-Chris

[pdxgrl33]

Originally Posted by ranger42c

Pretty fast and loose, with that description.
Sounds like OP's target suits the mission.

Thanks for your input. This 40' Bayliner does indeed fit our mission and, although everyone has an opinion, overall the feedback on the Bodega has been positive. Among the many pluses, very large living space for a boat of this size. We're going to choose to remain positive and optimistic about the pending choice.

[deluxe68]

Originally Posted by boatman61

If you go for a 6month/1year cruise down to the islands your a bludi liveaboard.. come on folks.. you think anyones gonna come down and check..??
Duhhhhh..!!

Lying to an insurance company is stupid. Why would any adult risk their investment to save a few bucks is beyond me. They employe people who look over claims to see if they can find a legal way out of paying the claim.