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Old 04-06-2013
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Re: Is insurance required to enter Bahamas?

I'd love to pay even a grand a year for decent insurance, but @ 6 grand a year to bet against myself, I don't see the logic.
When I was operating vessels commercially, carrying passengers on COI vessels, my insurance agent once quipped "your insurance is to pay for the lawyers, not for any incident!".
If the insurance companies would get a tiny bit realistic and give discounts for living aboard, licensing and experience it might help. I would guess that 90% or more of the boats damaged or destroyed by Sandy, for instance, were unattended vessels.
Like Capt AAron, we don't worry about our ground tackle, nor do we run at speed through a crowded anchorage. Though we sail from anchorage to anchorage, if there are vessels around us, while picking up or dropping, the engine is running, if not in gear.
Our biggest fear is the other guy hitting us, not our possibility of doing damage to someone else. I'll put her aground first! If I do damage your vessel then the 6 grand a year I haven't tossed down the drain is in the bank for you and I will make it right. I will take responsibility for my actions.
Liability would be nice, but the inherent risk (insurance wise) of a sport like sailing is assumed when someone gets aboard your boat and unless they could show negligence, they would be hard pressed to win a suit (also from the agent mentioned above).
For us, it still boils down to betting 6 grand a year that we will screw up.
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Last edited by capta; 04-06-2013 at 07:46 PM.
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