Liabilities expense compared to full coverage for a boat worth say $2,000 ought to not to be much different in price
Reason is exposure, the Insurence Co has a Million dollars of exposure or whatever the limit is if you go on the rocks in an Estuary or other sensitive area, but only have a $2,000 exposure on the boat.
So what your saying is illogical.
I raised my Insurence last year by about 50% based on an evaluation survey
on the work
I had done to the boat. I expected a 50% increase in Insurence premiums of course, but the increase was almost insignificant, I couldn’t understand that and it was explained to me that what I pay for more than anything and what the Insurence company worries about is that 1 Mil environmental clean up fee, not paying me for the value of the boat.