Join Date: Apr 2006
Thanked 170 Times in 167 Posts
Rep Power: 12
Re: Professional Liability Insurance for delivery or hiring crews
"one policy wouldn't cover both a boat worth $30K on one trip and another with a dinghy worth that. "
Why not? If you are writing a professional liability coverage policy, you are going to write limits on the policy, mainly dollar limits.
My auto liability insurance is written based on what I own, but for what I don't own, it is strictly dollar based. If I get in a POS or a Lamborghini, either way, I'm covered based on my own liability limit. If the vehicle is worth more, or I do more damage, the insurer really doesn't care. Why should a delivery skipper's liability policy be any different? He's not buying insurance on the boat, he's buying it on his liability.