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Old 05-02-2013
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Re: Insurance rant - How would you respond

Self insurance is not a good option in this day when lawyers are just waiting for and excuse to sue someone. And then there is oil spill costs and wreck removal. If your boat should sink at the marina due to a storm you are libel for the thousands it could cost to clean up oil from your engine and then have the boat removed. If you have a guest and they get hurt you are libel. The worst case I knew of was a man who bought a boat. The broker assured him he had transfered the insurance with the title. The new owner was bringing the boat home and it sank due to no fault of his. His girl friend died before they were rescued. Her family sued. He found out that the salesman never did file the paper work and he was not insured. He lost everything he owned and after years of endless law suites took his own life.
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