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  #11  
Old 09-13-2003
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DonFoley is on a distinguished road
full time cruising insurance ??

And lets get back to boat insurance for a second. Unless you have your $40,000 for your boat in cash, your bank will require you have insurance, both hull and liability.

OK, so you''ve dug a few ditches and earned your boat money, so no loan. What do you think will happen if you drag your anchor in a storm and smash into a megayacht. The damages might cost you your boat. Period.

Or if someone hurts themself on your boat?

I rather enjoy cruising, I do not want to loose what I''ve worked for by some mishap. That''s one reason I have insurance.
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  #12  
Old 09-14-2003
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Stede is on a distinguished road
full time cruising insurance ??

Jeffamc,

Iím not going to try and explain to you why you need insurance. Nor am I going to try and explain to you why you donít want to live with the Aborigines in South America, or any of the other rhetoric youíve posted on this board. I think you really understand these things. What I donít think you understand, is that the people of this board will eventually tire of this charade of nonsense, and just start ignoring you. Youíve become the Foster child of the Sailnet bulletin board. Almost everyone here has taken you in at one time or another in an effort to help you. I looked up your name, and I noticed that youíre not a member here. So why do you come? Are you a sailor, or just someone that doesnít have anything better to do than get high, and sit around typing on your computer hoping that someone will talk with you? You donít contribute anything meaning full here. This is our world and right now you donít even pay rent in it. Why should the good people of this board waste their time on you? Whether you want to admit it or not, you and I live in the greatest country on Earth. The opportunities are boundless here. Iíve seen the eyes light up at the mention of being from the United States to people abroad. They know it too. Yet, here you are in the land of ďmilk and honeyĒ whining about how bad everything is. Rather than being a player in this world, youíve chosen to sit on the bench writing in the sand with a stick. I learned a long time ago that you canít help people that donít want to be helped. From this day forward, I encourage you to come to the table as a man seeking to learn and grow, or donít come at all.
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  #13  
Old 09-14-2003
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Jonathan316 is on a distinguished road
full time cruising insurance ??

Is it just me, or do all questions about insurance on SailNet seem degrade this way? I have been fascinated by the appearant lack of insurance -- or even interest in it -- amongst the cruising community. When I''ve asked about insurance and its costs, I seem to get giggles and head shakes. What am I missing here folks?

Let''s see: I sell my house and primary possessions (and cancel all the insurance on them) and roll it all into a $150,000 cruiser''s dream. I head south to the Caribbean and end up at a mooring outside the BVI. Late one night a drunken wacko on a 30 footer who never even passed ASA 101 does a perfect t-bone into my hull, firmly embedding a junior bow pulpit into my galley. Or I go ashore for a relaxing day of unbridled debauchery and return to find an empty mooring... sigh... Or while I''m gone the mooring snaps and I return to -my- bow pulpit embedded in the shiny new hull of a $2.5 million pseudo-sailor''s yacht.

No insurance?? Huh?? How can you cruise with all your worldly possessions on your back and not want to CYA? I just don''t get this part at all... Sure, the realities of a cruising budget can bite anybody in the "real world" - but this part I just do not get.

I have yet to find an ->un-financed<- cruiser who can tell me what to budget for insurance on a $125k-$150k sailboat in the less-than-decade-old category. $50 monthly? $150 monthly? $500 monthly? The return question seems to always be "How much is financed? - that will determine the insurance level required".

I do not want to finance my dream, I just want to cover my aging butt from the negligence of myself and others.

So please: after the giggles subside can anyone who might actually have empathy for that perspective tell me how much to budget or how much they pay insurance? Anyone offering a valid response involving dollar signs will be cordially invited to join the debauchery at some point in the future (grin).

Jonathan
Obsessive Cruiser in Training
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  #14  
Old 09-14-2003
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bob-m is on a distinguished road
full time cruising insurance ??

Jonathan

Do a search for "insurance" on this BB. The subject has been covered several times and you will find some good recommendations.

Sorry that I can not give exact numers (I''ve been on the hard for 2 years) but if memory serves me correctly we paid A little under $2000 per yr. for a boat valued at $120K.

Why do so many not carry insurance? Remember, alot of people who "drop everything and go now" are trying to escape. Reality doesn''t always enter into the equation. My wife and I cruised for 12 years and always caried medical and vessel insurance. When you get out there you will find that those who properly maintain their vessels, sail responsibly, and had their financial affairs in order before they left, usually carry insurance.
Hope this helps

bob-m
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  #15  
Old 09-14-2003
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kokopelli9 is an unknown quantity at this point
full time cruising insurance ??

Well said,Stede...I for one have grown very tired of having to "weed" through Jeff''s whines to get to some true sailing info of value.
As I said the other day...can we just ignore the kid and let him find another place to whine.

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  #16  
Old 09-14-2003
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TrishLambert is on a distinguished road
full time cruising insurance ??

Having or not having insurance depends, I think, on how much risk you can tolerate. My first boat HAD to be insured because of the bank loan, my second boat wasn''t and we were mentally prepared to deal with the consequences. Also, we did not stay in marinas, many or most of which require insurance for any lengthy stay, so it was a cost we did not build into the budget.

Current boat IS insured with a policy that doesn''t limit our location because of hurricane season. We do stay at marinas a lot, and are NOT willing to "sail bare"...as someone mentioned, we are concerned about damage to other boats that we may be liable for, and want to be covered.

I guess one question to ask in making the decision is whether or not you could recover financially from either losing the boat or being liable for extensive damage to another''s vessel. If you could, maybe go bare (unless you want to stay in marinas a lot). If not, find a policy that fits your needs.

Trish
www.takehersailing.com
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  #17  
Old 09-14-2003
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DonFoley is on a distinguished road
full time cruising insurance ??

Actually J, I did give you a number.

$500 a year on a $65,000 hull value.

But anyones numbers are going to be meaningless. If you want a REAL figure, call up your insurance agent. I didn''t use my agent, as I found better rates with Allstate.

Call them and ask for an estimate. It''s that simple.
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  #18  
Old 09-15-2003
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Jonathan316 is on a distinguished road
full time cruising insurance ??

Thanks Bob. That was right on the money for me and the ''escape'' perspective explains more than just this situation that did not "tie together" for me. Does now!

Jonathan
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  #19  
Old 09-15-2003
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mcain is on a distinguished road
full time cruising insurance ??

I think everyone is right--insurance discussions do degenerate.
To get back to the initial question, (and there have been other postings in the past), I have found that IMIS has good rates and terms, and it looks like about 1.5% of the value of the boat is the annual premium. Or ballpark $1800 for a $120K boat. Varies depending on deductible, insurance company, geographic region covered, etc. I have checked two sources--IMIS and BoatUS (can''t get south of Turks & Caicos, however, with BoatUS), at similar premiums. For us, insurance is strictly for catastrophic loss. But any loss over $100K would put a real dent in our lifestyle...........
We are also going for high-deductible health insurance. The premiums go up as your age goes up. Same theory and same reason--for catastrophic problems.
These two expenses seem like one of the largest differences in cruising budgets. It seems to me that people who quote $1000 per month or less typically don''t have either insurance cost, and those who quote $1500 or more usually have at least one, or both. It looks to me, IMHO, that the $500 per month delta represents those two insurance costs, and perhaps life insurance as well.
In the end, it is a personal decision.
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  #20  
Old 09-15-2003
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rleslie is on a distinguished road
full time cruising insurance ??

There is an article in Blue Water Sailing title: "INSURANCE FOR CRUISERS" that may be of some help. http://www.bwsailing.com/
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