Yacht INSURANCE

[simonhantler]

Looking at wether to insure or not. Building a new catamaran cost 1 mil usd.
Shall I insure it?
I don’t insure anything except my house for burning down. Everything else I take the risk and it’s saved me a lot of money over the years.
They rely on people’s fear factor and profit from it, sometimes you just have to back yourself.
I’ll get some quotes and weigh it up. Happy to third party ins as I understand lots of marinas won’t let me in otherwise.
What has insurance cost you guys compared to the value of your boat?

[robert sailor]

Your looking at about 1-2% of hull value. If you can afford to take the risk and your a decent sailor go the 3rd party liability route...makes total sense.

[robert sailor]

I should mention those are offshore rates, if your sailing local its cheaper but I can't help you on that.

[simonhantler]

Originally Posted by robert sailor

Your looking at about 1-2% of hull value. If you can afford to take the risk and your a decent sailor go the 3rd party liability route...makes total sense.

HULL VALUE? Thanks for reply but how do they establish hull value? Is it what it’s cost me to have built?