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post #23 of Old 05-01-2013
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Re: NE Insurance Rates - Reasonable?

Originally Posted by Harborless View Post
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?

You may not like what he is saying but he's right. And this is from a guy that hates insurance companies. Old boats are risks. Regardless of the time and effort put into them, as things age they break down. In an era where the slighghtest oil spill in a marina can result in a six figure liability...the insurance cos are pricing risk very conservatively. You're a risk and a danger to others.

On the flipside, if you're confident in your seamanship...go uninsured. Or, be like a business and transfer title of the boat into an LLC (should only cost $200 a year) and then if you spill or hit someone...well, the LLC is the owner. Dont know how personal liability works when you're at the helm though and hit someone else.

S/V Jendai
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