Re: Older Boat Insurance
I dunno, smurph. The small-time scoundrels try to cheat the insurers. The medium-size scoundrels in the legal and judicial systems refuse to prosecute adequately. And the really successful scoundrels, RUN insurance companies and try their best to shear the sheep. Plenty of scoundrels to go around, and as long as folks refuse to run them ALL out of town on a rail, they'll only be more of them. (Anyone who doesn't understand why running someone out of town on a rail was a death sentence might want to look that up.)
Then of course there's a mutual assurance company, which is a pool of folks sharing the costs to insure themselves as a group, with no profits to be skimmed. The only problem there, is figuring out a way to keep the scoundrels out.
Seems like the only way to win, is simply to become a scoundrel. In some states, car insurance IDs come with a bar code and zip-zip it can be scanned and verified on the spot. In other states...and with, ahem, other types of policies...if no one makes a phone call, they just file it. Is that ripe for trouble or what?
Of course if you want to win BIG, start an insurance company. That should help the boat budget, too!