Join Date: Apr 2006
Thanked 160 Times in 157 Posts
Rep Power: 12
Re: Professional Liability Insurance for delivery or hiring crews
"But don't make getting liability insurance any kind of priority."
All well and good to compare philospphies of life but that wasn't the OP's question.
Let's suppose one of you top experts hits a deadhead at night, stuffs a foot wide hole in the hull and loses a cheap quarter million dollar 40'er. The owner is a nice guy but his wife is really pissed at you and files suit, saying it was irresponsible of you to sail at night when you couldn't see what was out there. She gets a jury to agree and you get screwed. Hey, sure, you did everything right and **** happens, but that also includes courts making the wrong decisions and now you're being held liable for a quarter million dollars, and also the loss of her prize winning pomeritzu dogs who last were seen going down with the boat. They were prize-winning breed stock and gifts from Leona Helmsley, valued at another hundred grand for the pair.
You're screwed. You will now lose 350,000 dollars, from your house, your retirement funds (they're not all inviolate), your own boat, whatever you've got. It doesn't matter how good or professional you were, folks get caught up in this stuff all the time and SOME folks would really rather just buy insurance than risk the loss.
It has nothing to do with how qualified you are, how responsible you are, how experienced you are. It has to deal solely with how you chose to ensure against risk of loss.
Solo delivery captains may be the last cowboys, riding off with just a horse and saddle. Much of the rest of the world? Isn't quite so brave.
Last edited by hellosailor; 03-15-2013 at 05:25 PM.