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  #21  
Old 02-04-2010
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Insurance - Bait and switch

I have been reading about those insurance prices you see on the Internet.

It seems a lot of them will give you a low price but after they sign you up and take all of your info, the policy prices jump - a lot. If you don't want it, they will refund the premium that you already paid. The other trick, they start bumping the price significantly every year.

Quote:
Originally Posted by xort View Post
is that a deluxe policy?

I've done some shopping at Health Insurance - Affordable Health Insurance Quotes, Individual Health Insurance and have seen some decent policies for under $500/mo for 2 people over 50 yo. They have some under $300 but they seem hardly worth it.
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  #22  
Old 02-04-2010
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Quote:
Originally Posted by xort View Post
is that a deluxe policy?

I've done some shopping at Health Insurance - Affordable Health Insurance Quotes, Individual Health Insurance and have seen some decent policies for under $500/mo for 2 people over 50 yo. They have some under $300 but they seem hardly worth it.
No, not a premium policy by any means, it's a pretty standard BCBS family health insurance policy. Our employer pays about 2/3 of that premium each month, we pay the remaining. But if we went off on a sailing sabbatical with our family, we'd have to pay the entire amount to continue it.

There are probably other policies that are less expensive, but I'd have to study the coverage. And I wouldn't want to be any LESS insured than we are now, with a boatload of kids. As it is, on top of the premiums, we have another $4-5K medical expenses annually (deductibles, co-pays, prescriptions, dental, orthodontics, opthalmology (sp?), etc). All pretty standard stuff.

So when I see some of these monthly budget numbers, while certainly helpful in some respects, I'm somewhat incredulous as to whether they are very applicable to an american** family with a bunch of kids.

Medical is just one small part of that equation, too. The boat needs to be bigger (higher initial costs, higher refit costs, higher maintenance costs, insurance, etc etc), the food and clothing budgets are much larger, cost of distant learning/education, higher family travel and entertainment costs, etc etc.

Anyway, interesting discussion.

** Families from countries with socialized medicine will have very different calculus.
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  #23  
Old 02-04-2010
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Quote:
Originally Posted by davidpm View Post
That is very interesting eryka
Would you mind expanding that list a little and share how the 85k got split up.
You have 135 into your boat but I suspect it is in better shape that a new boat. What do you figure a new boat similarly equipped would cost? I'm guessing 290, am I close. How many months did the refit take and how much did you do yourself?
David, it'll take me a few minutes to look up all the costs so let me get back to you in a bit on that. For the rest, your guess of $290 tracks well with our survey, which said that this boat was one of the best examples of its type that the surveyor had seen. One very important caveat with an older boat like this: if it should be totalled, insurance won't pay the full replacement cost (our $135) because there are other similar hulls on the market for the $50 we paid ... we have an agreed value policy that partly, but does not completely, acknowledge the cost of the upgrades.

The refit took about 2 years and we did a lot of it ourselves so we'd know every inch. More later.
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  #24  
Old 02-04-2010
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Here's 3 policies I found on ehealthinsurance...

We're 2 mid 50's non smokers.

Aetna PPO, $3000 deductable, 0 coinsurance, $521/mo

United Health Network, $2500 deductable, 0 coinsurance, $445/mo

Celtic PPO, $5000 deductable, 0 coinsurance, Office visit $15, $461/mo


I then talked to a recommended local insurance broker. He has similar rates for me as well.
But, what if I get dinged for health issues? Here in Michigan, we have state regulated BCBS and they are required to carry me at decent rates. The broker estimated that we would face a $500/mo rate for a $5000 deductable with 80% coverage after that. The broker also mentioned that Michigan is one of the lower cost states for health insurance. We're reconsidering Florida as a cruisers residence as that state has relatively high health insur rates.
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Quote:
Originally Posted by eryka View Post
David, it'll take me a few minutes to look up all the costs so let me get back to you in a bit on that. For the rest, your guess of $290 tracks well with our survey, which said that this boat was one of the best examples of its type that the surveyor had seen. One very important caveat with an older boat like this: if it should be totalled, insurance won't pay the full replacement cost (our $135) because there are other similar hulls on the market for the $50 we paid ... we have an agreed value policy that partly, but does not completely, acknowledge the cost of the upgrades.

The refit took about 2 years and we did a lot of it ourselves so we'd know every inch. More later.
Eryka... I too would be interested in your boat and any additional details you would be willing to share.. I like the idea of doing to reno on a older boat.
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  #26  
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On cruising under $300,000

This question reminds me of a short essay by Sterling Hayden, 1916-1986 , actor and author of 'Voyage', a fine square rigger yarn. To quote: "To be truly challenging, a voyage, like life, must rest on a firm foundation of financial unrest. Otherwise you are doomed to a routine traverse, the kind known to yachtsmen who play with their boats at sea---"cruising" it is called. Voyaging belongs to seamen, and to the wanderers of the world who cannot, or will not, fit in. If you are contemplating a voyage and you have the means, abandon the venture until your fortunes change. Only then will you know what the sea is all about. 'I've always wanted to sail to the South Seas, but I can't afford it.' What these men can't afford is not to go. They are enmeshed in the cancerous discipline of security. And in the worship of security we fling our lives beneath the wheels of routine--and before we know it our lives are gone. What does a man need, really need? A few pounds of food each day, heat and shelter, six feet to lie down in, and some form of working activity that will yield a sense of accomplishment. That's all--in the material sense. And we know it. But we are brainwashed by our economic system until we end up in a tomb beneath a pyramid of time payments, mortgages, preposterous gadgetry, playthings that divert our attention from the sheer idiocy of the charade. The years thunder by. The dreams of youth grow dim where they lie caked in dust on the shelves of patience. Before we know it, the tomb is sealed. Where, then, lies the answer? In choice. Which shall it be: bankruptcy of purse or bankruptcy of life? "
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Nice Nissantwa.
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  #28  
Old 02-04-2010
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Quote:
Originally Posted by nissantwa View Post
This question reminds me of a short essay by Sterling Hayden, 1916-1986 , actor and author of 'Voyage', a fine square rigger yarn. To quote: "To be truly challenging, a voyage, like life, must rest on a firm foundation of financial unrest. Otherwise you are doomed to a routine traverse, the kind known to yachtsmen who play with their boats at sea---"cruising" it is called. Voyaging belongs to seamen, and to the wanderers of the world who cannot, or will not, fit in. If you are contemplating a voyage and you have the means, abandon the venture until your fortunes change. Only then will you know what the sea is all about. 'I've always wanted to sail to the South Seas, but I can't afford it.' What these men can't afford is not to go. They are enmeshed in the cancerous discipline of security. And in the worship of security we fling our lives beneath the wheels of routine--and before we know it our lives are gone. What does a man need, really need? A few pounds of food each day, heat and shelter, six feet to lie down in, and some form of working activity that will yield a sense of accomplishment. That's all--in the material sense. And we know it. But we are brainwashed by our economic system until we end up in a tomb beneath a pyramid of time payments, mortgages, preposterous gadgetry, playthings that divert our attention from the sheer idiocy of the charade. The years thunder by. The dreams of youth grow dim where they lie caked in dust on the shelves of patience. Before we know it, the tomb is sealed. Where, then, lies the answer? In choice. Which shall it be: bankruptcy of purse or bankruptcy of life? "
+300,000
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  #29  
Old 02-04-2010
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Just marking my spot, interesting thread.
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  #30  
Old 02-04-2010
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Quote:
Originally Posted by eryka View Post
David, it'll take me a few minutes to look up all the costs so let me get back to you in a bit on that.
That would be great eryka if you don't mind the accounting, I'm sure it will benefit many people. The insurance issue is an important tip too.
Did you mention your boat, size, make age. I missed it.
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