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Old 26-06-2020, 18:37   #1
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Yacht INSURANCE

Looking at wether to insure or not. Building a new catamaran cost 1 mil usd.
Shall I insure it?
I donít insure anything except my house for burning down. Everything else I take the risk and itís saved me a lot of money over the years.
They rely on peopleís fear factor and profit from it, sometimes you just have to back yourself.
Iíll get some quotes and weigh it up. Happy to third party ins as I understand lots of marinas wonít let me in otherwise.
What has insurance cost you guys compared to the value of your boat?
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Old 26-06-2020, 18:46   #2
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Re: Yacht INSURANCE

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.
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Old 26-06-2020, 18:47   #3
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Re: Yacht INSURANCE

I should mention those are offshore rates, if your sailing local its cheaper but I can't help you on that.
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Old 26-06-2020, 18:59   #4
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Re: Yacht INSURANCE

Quote:
Originally Posted by robert sailor View Post
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 itís cost me to have built?
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