Join Date: May 2012
Location: Port Dalhousie, St.Catharines. Ontario
Thanked 1 Time in 1 Post
Rep Power: 4
Re: 10K$ boat --- Are Insurance and Survey REALLY mandatory?
I'm buying my first sailboat as well and it is below 10k. I don't think that number indicates anything other than I'm getting a lot of boat for a great price. A 1975 Northern 29 that has been owned since 1985 by the present owner who has babied her all those years.
A survey was completed by him in 2008 for a sale, but he changed his mind and sailed her a few more years. I called the insurance company and they have agreed to insure the boat for an agreed value (purchase price in some cases) I can't imagine sailing without insurance. Liability of 2m is pretty common with most marinas. As someone new to sailing a boat of 29', I feel it my responsibility to protect myself and others.
The cost of insuring is really inexpensive ($200.00) for peace of mind?
There are too many people out there who would love to sue the pants off you, and for $200.00 you shouldn't have to worry about that.
I hope you find the right boat and can start your new life.....Enjoy!