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Old 03-11-2013
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Types of insurance

So,
over the past few days there has been some very interesting discussion regarding insurance in several different threads. It strikes me that many folks come to this site looking to untangle the mysteries of insurance, surveying, getting loans and whatnot when purchasing their first, tenth, or final boat.

Following some of the other threads I thought I would start his one in order to discuss the various TYPES of insurance out there and whether folks need, want, want others to have, would never have, etc. for themselves and others.

I'll start. I have a typical boat policy that covers my vessel and any damage to another's vessel or property that I may cause. Also covers my vessel if someone else damages mine when they are not covered or if I can't identify who caused the damage.

If I were to hire a delivery captain I would want that person insured as a professional with at least general liability. My thinking is it would keep me out of the line of fire if my hired professional negligently caused someone else harm. If he/she has an insurance provider, then I reason that their insurance provider could provide the "deep pocket target" instead of me or my provider.

Anybody else have any thoughts?
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