SailNet Community - View Single Post - NE Insurance Rates - Reasonable?
View Single Post
post #22 of Old 05-01-2013
Blue Horizons
Harborless's Avatar
Join Date: Nov 2010
Location: Jacksonville, Fl
Posts: 1,052
Thanks: 4
Thanked 21 Times in 16 Posts
Rep Power: 7
Re: NE Insurance Rates - Reasonable?

Originally Posted by TakeFive View Post
You're not going to like my answer. The solution is to find a way to pay your insurance. If you don't have the money to pay your premium, you are certainly not going to have the money to pay the damage you do to others' boats and docks if your boat catches fire. So in my opinion you are a bad neighbor. If you cause damage to others, you are likely to disappear rather than face up to your financial obligations.

Actually, sitting at the dock is probably the most irresponsible thing that you can do, because it is the place where you are most likely to damage others' property. Without insurance you should cast off from the dock and not come back. I'm surprised the marina allows you to stay there without insurance.

It could be argued that you cannot afford to have your current boat. It's nobody's fault but your own - you should have included the cost of insurance in your calculations of total cost of ownership. If you can't afford the insurance, you should have chosen a more affordable boat.

Isn't that what all deadbeats say?

The cost of your boat has little to do with the likelihood of damaging other boats. As a boat ages and its value depreciates to nothing, it is more likely to have electrical problems, fuel leaks, and other issues that make it a greater risk to catch fire and/or cause environmental damage. That's why the premiums on old boats are often so high. Your argument about lack of financial resources reinforces this, because it suggests that your maintenance may be inadequate.

Don't forget: Insurance companies want your business. They compete with each other to get it. They will offer you the lowest rate that their actuaries say will allow them to make a profit. If you're getting high rates from everyone, it is because there is a risk factor which tells them that they are unlikely to make a profit on you. There's nothing sinister about that - it's just business.

Look, I know what I'm saying isn't what you want to hear, and I suspect you'll come up with all sorts of reasons why I am mean-spirited, closed-minded, or just plain wrong. So just stay away from my boat (and the boats of other responsible boaters here) and we'll call it even.
Yea, i'll take issue here.

Ex marine 4 yr BS in BIO graduating now with his own boat, car, and current job. That's what all deadbeats do I guess.
Inadequate maintenance is why I could afford to buy a live aboard boat in the first place. The 200+ man hours worth of labor and 10k investment makes sure she is 'adequately maintained.'
Your insurance policy, like vehicle, has clauses for uninsured boaters- so you would be reimbursed. But thanks for tellng me I would do the criminal thing and just run away- That was a nice touch.
If I save that 1800 annual, im pretty sure I could afford to cover a ding less I crash into an Oyster but with my 17+ years sailing I have yet to damage anthers boat yet, besides my own.

I did the smart thing. Everyone else is throwing rent at a landlord. I bought a house and rebuilt it. I own my own home at 25. By the way, my first post-grad job should provide a nice boost in income but when it does I still wont be a like you.
Kick rocks and stay away from MY boat why dont cha?

Last edited by Harborless; 05-01-2013 at 02:57 PM.
Harborless is offline  
Quote Share with Facebook
For the best viewing experience please update your browser to Google Chrome