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post #3 of Old 07-15-2013
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Re: Boat Insurance Nuances - do I have it wrong?

I think it depends a lot on where you are planning on sailing. If your boat does damage to a new 65 foot swan when you anchor drags? Ouch, there goes a few years cruising kitty. So your said boat sinks, if it is in US waters you are looking at up to a couple hundred thousand dollars in environmental clean up as all the diesel fuel perks up from the boat, oh they can trace the hull number to find who owns it. And your not BP so you will have to pay! Oh get dragged into the coral off the coast like the Navy did and you are looking at lots of fines, even it a storm drags you. I can't imagine a Philippine jail is very nice. Yes if you want to go into a Marina for maintenance of a nice shower then you will need insurance. But I guess it comes down to responsibility.
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