Originally Posted by neverknow
Why worry about insurance at all? if you don't owe anything on it? You might need a liability policy if you are in a marina though?
If he had no insurance, he would have had to pay for the damage done as a result of the hurricane out of pocket. I would think that would be a prime reason for carrying insurance. $400 (or whatever the premium is) vs $30K.
But, like all insurance, you take a chance. Seems like it paid off this time.