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  #21  
Old 01-30-2014
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Re: 10K$ boat --- Are Insurance and Survey REALLY mandatory?

Quote:
Originally Posted by jwing View Post
The boat you buy for $10,000 will probably be needing lots of deferred maintenance tasks taken care of - do it now safely and conveniently or do it later expensivley and maybe hazardously. I think you should forgo paying a surveyor and learn to inspect boats yourself. There are at least a couple of good books that will guide you through the inspection process. This will be your first step in learning how to do all those deferred maintenance tasks yourself. If you find inspecting boats to be too tedious, you should probably stay in the metal box in Mesa. So YES to your first premise of doing your own survey.

Liability insurance? Absolutely. The reasons have been well-explained by previous posters. Even though it's not part of your dream, much of your anchor time is likely to be near other people, so be responsible for the damage you may cause them. Clearly you don't have the money to self-insure and liability insurance is not very expensive. So YES to liability insurance. But your question was, "Is a survey necessary for liabiltiy insurance?" My experience says the answer to that question is NO, you do not need a survey to get liability insurance. It may depend on your engine, though. I have a fairly new outboard engine and did not need a survey to get liability coverage.
This sounds like some of the best advice so far - maybe cause it's what I was already thinking... *grin*

I'm not sure I'd call it my 'dream', no stars in my eyes here, but you need a plan and something to get outa bed for...
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  #22  
Old 01-30-2014
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Re: 10K$ boat --- Are Insurance and Survey REALLY mandatory?

Quote:
Originally Posted by joethecobbler View Post
be responsible - translation- I'm worried about what I have and you obviously don't have the financial means to "make good" if something happened. so,you shouldn't be allowed to be sailing because you can't afford my boat if you wreck it.
to that I say - if you're that scared, stay inside with the children. or YOU buy whatever insurance your fear dictates you need.
.
Putting insurance aside, are you saying you should not be held accountable for your actions?

Damn straight I am worried about what I have. I have worked a long time to purchase the home of our dreams. You run your boat into it, be prepared to do what it takes to make it right.

I am very pro sailor. Get out there any way you can. I do not care what kind of boat or how it looks or how much money you have but everyone needs to be accountable and take responsibility should they make a mistake. Too many folks these days point the finger or claim "he is rich enough to fix my mistake, why should I pay for it"

This is bordering on a huge political rant but I will stop here.

To the OP. Get the insurance or not is your choice but be a good citizen either way.
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  #23  
Old 01-30-2014
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Talking Re: 10K$ boat --- Are Insurance and Survey REALLY mandatory?

Quote:
Originally Posted by joethecobbler View Post
jingo-
Ha! did you come up w/ that line about "piece of mind " or are you just repeating the line your insurance agent fed you,and you swallowed hook line and sinker?
From the OP's post's it's blatantly obvious he/she has little or no money and less sailing experience and has aspirations of sailing into the sunset on little or no cash.
given those conditions, he/she is what is referred to as indigent, and subsequently lawsuit proof.
now some may attempt to discourage this individual due to the possibility of something happening. I cannot as I've spent the last number of years aboard sailing up and down the east coast with similar financial shortcomings.
some scoffed, some didn't. I sailed, am still sailing. no insurance at all and no plans on getting any,don't want it.
don't enjoy places and the attitudes of the folks that frequent them that require insurance.
I detest forced insurance,but if your scared and insecure about yourself I won't attempt to deny you your feeling of security or "piece of mind "
as per the comprehensive coverage - the OP will more likely than not be fortunate to have a handheld GPS and VHS let alone expensive electronics aboard.
I think the OP is looking for low/ no income sailing, not the other.
your living in different worlds.
VERY well said, Joe, thank you. I paid in the maximum to SS for my entire life and even for a few employees at one time. I hope to live long enough to get much of it back. Everything else was basically stolen from me. There are quite a few folks with that "attitude" you mentioned that live in a very small bubble and basically have no clue. I don't wish to voluntarily be stupid, but I do choose my wisdom from others carefully... *grin*
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Old 01-30-2014
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Re: 10K$ boat --- Are Insurance and Survey REALLY mandatory?

Home Owners Insurance
Many home owners policies cover liability insurance for sailboats up to 23 or 26foot. Check with your agent & see if you are covered.
Save your money and don't buy insurance you already have.
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  #25  
Old 01-30-2014
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Re: 10K$ boat --- Are Insurance and Survey REALLY mandatory?

I was kind of in your same mind set when I first went into this boat ownership thing. But I had a well thought out plan in place that I worked methodically. I first studied the laws in my state and the neighboring states, to learn how to take possession of a abandoned or derelict boat. Then I called my insurance company All-State and ask what the insurance requirements were on a boat of 30í size. I learned the 5 most expensive cost to a derelict boat and learned if the problems with neglected boats was something that I could fix. Deck fittings Thru hull valves engine sails Life lines Bottom job, Standing rigging running rigging etc. Once I learned how much it could be on the high side and the insurance cost, I started my search for a boat. I found one on the hook it had been there for 4 years and 7 months without anyone looking in on it. After a lot of hard luck I found the owner and was able to get the boat for $2,500.00 it needed a lot of work. The floors had to come out, The Bimini was destroyed. All the lights had to be rewired. It needed hauled scraped and painted. The cutlass and stuffing box needed replaced. After only 8 trips the 2gm gave up the ghost I was able to purchase a $3,000. 2GM20F and install it myself,
All and all Iím still way under $10,000 in fact I have spent $10,000. Now and I've had the boat going on 3 years now. So, yes you can do it and with liability insurance. My advise do what you are doing learn from others. Read, read, and research the net. There is so much information out there. There is no reason you canít do what you want within that budget.
Good luck and take a look and I will show what I started with for $2,500 Bucksí
S/V East Coast Lady Shows her Bottom
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  #26  
Old 01-30-2014
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Re: 10K$ boat --- Are Insurance and Survey REALLY mandatory?

sailingdog's Boat Inspection Trip Tips, to give you a start. If you do get a survey, be there and ask questions about anything you don't understand or think needs attention.

There are a lot of clever, helpful folk here, but they need information to help you. The more you can tell what you know & have done, and the more specific your question, the more on-target the response you'll receive.

Smart Questions is about computers, but through reading it you can get an idea of what I mean.

If you want to search this site for something (most topics have been covered, some several times), use this format in your search engine window:

"boat survey" /site:http://www.sailnet.com/forums/

1) Use the quote-marks or you'll get random hits on individual words in the search phrase.

2) No {space} between "/site:" and "http...."

Good luck!
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  #27  
Old 01-30-2014
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Re: 10K$ boat --- Are Insurance and Survey REALLY mandatory?

Nope you don't need a survey.
You're an idiot not to get one, considering that a survey is essentially free.
Might cost you $750 to have the boat surveyed. Chances are, the surveyor will find enough wrong to justify reducing the price of the boat by at least $750...
so, the survey cost nothing.
Or, the survey uncovers deficiencies that far exceed the cost of the survey, your comfort level or your budget... in which case, the survey saved you more than $750...
so it is free.

If you can't afford a survey, gutcheck yourself about whether you can afford a boat.

The only two reasons to forgo a survey:
1. You can afford to lose the entire 10K you sunk into the boat because it requires thousands of dollars of work over the next year or so that you can't afford, so the yard claims your boat...
2. You are way under market on the boat, you know what you are getting into, and expect to be purchasing a project that you expect to spend thousands and thousands of dollars on...
then forgo a survey.

It's your money.
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  #28  
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Re: 10K$ boat --- Are Insurance and Survey REALLY mandatory?

Quote:
Originally Posted by cruisingdream View Post
Home Owners Insurance
Many home owners policies cover liability insurance for sailboats up to 23 or 26foot. Check with your agent & see if you are covered.
Save your money and don't buy insurance you already have.

Sounds like good advice. But you either haven't been payin attention, or just don't get it. Don't feel bad or be angry - MANY don't. I believe you must have had some seriously life altering events, AND have traveled extensively to 'get it'. There is no home owners policy - and no 'home' in the conventional sense for several years. Agent? LOL (and if the samples I saw at the boat show pass as 'Agents', there may never be another 'agent' )
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  #29  
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Re: 10K$ boat --- Are Insurance and Survey REALLY mandatory?

Regarding insurance, a growing number of marinas require proof of insurance- for the pittance it costs, it's smart to have it just to prevent you from limiting your own options.
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  #30  
Old 01-30-2014
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Re: 10K$ boat --- Are Insurance and Survey REALLY mandatory?

Quote:
Originally Posted by joethecobbler View Post
...are you.
Yup. I am accountable for my mistakes regardless of insurance.
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