10K$ boat --- Are Insurance and Survey REALLY mandatory? - Page 7 - SailNet Community

   Search Sailnet:

 forums  store  


Quick Menu
Forums           
Articles          
Galleries        
Boat Reviews  
Classifieds     
Search SailNet 
Boat Search (new)

Shop the
SailNet Store
Anchor Locker
Boatbuilding & Repair
Charts
Clothing
Electrical
Electronics
Engine
Hatches and Portlights
Interior And Galley
Maintenance
Marine Electronics
Navigation
Other Items
Plumbing and Pumps
Rigging
Safety
Sailing Hardware
Trailer & Watersports
Clearance Items

Advertise Here






Go Back   SailNet Community > General Interest Forums > General Discussion (sailing related)
 Not a Member? 


Like Tree66Likes
Reply
 
LinkBack Thread Tools
  #61  
Old 02-01-2014
bljones's Avatar
Senior Member
 
Join Date: Oct 2008
Location: South Coast Ontario
Posts: 8,075
Thanks: 31
Thanked 68 Times in 61 Posts
Rep Power: 7
bljones has a spectacular aura about bljones has a spectacular aura about
Re: 10K$ boat --- Are Insurance and Survey REALLY mandatory?

Quote:
Originally Posted by joethecobbler View Post
actually I did hit a deer,memorial day 1981 about dusk,doing about 65 MPH on my first legal street bike!
I lived no injury, the deer(about 150lb.) not so fortunate.
I had just dropped of my girlfriend, I slid about 300' on my back.
it was exiting.
oh, I had ins. but not comp,it was a $100 bike.
So, if insurance had cost you less than $100 to replace your bike, it would have been free, wouldn't it?
adjusted for inflation , 33 years later, my $150/year is actually less, that what you were paying back then.
__________________
It's 5 o'clock somewhere:


To view links or images in signatures your post count must be 10 or greater. You currently have 0 posts.
Reply With Quote Share with Facebook
  #62  
Old 02-01-2014
Senior Member
 
Join Date: May 2012
Location: Port Dalhousie, St.Catharines. Ontario
Posts: 111
Thanks: 6
Thanked 1 Time in 1 Post
Rep Power: 2
Kalina-Lona is on a distinguished road
Re: 10K$ boat --- Are Insurance and Survey REALLY mandatory?

I'm buying my first sailboat as well and it is below 10k. I don't think that number indicates anything other than I'm getting a lot of boat for a great price. A 1975 Northern 29 that has been owned since 1985 by the present owner who has babied her all those years.
A survey was completed by him in 2008 for a sale, but he changed his mind and sailed her a few more years. I called the insurance company and they have agreed to insure the boat for an agreed value (purchase price in some cases) I can't imagine sailing without insurance. Liability of 2m is pretty common with most marinas. As someone new to sailing a boat of 29', I feel it my responsibility to protect myself and others.
The cost of insuring is really inexpensive ($200.00) for peace of mind?
There are too many people out there who would love to sue the pants off you, and for $200.00 you shouldn't have to worry about that.
I hope you find the right boat and can start your new life.....Enjoy!
Reply With Quote Share with Facebook
  #63  
Old 02-01-2014
davidpm's Avatar
Senior Member
 
Join Date: Oct 2007
Location: Madison
Posts: 3,487
Thanks: 130
Thanked 33 Times in 26 Posts
Rep Power: 7
davidpm is on a distinguished road
Re: 10K$ boat --- Are Insurance and Survey REALLY mandatory?

Quote:
Originally Posted by joethecobbler View Post
ok,I see how liability insurance can benefit myself and others, thanks for the insight. I'll start budgeting for the coming season.
I guess I was/am jaded due in a large part to the ten's of thousands I paid out years ago when I owned a transportation/trucking company. never had a claim but paid over $15000.00 a year for each unit ! it was outrageous and they didn't even give me a hug.
looking back, trucking really sucked, almost glad it's over even if I did loose it all,it's good to be back home w/family and shoemaking/repair it's much more rewarding ,particularly making corrective footwear for people.
Thanks for that insight into your life.
It sounded to me like you are a good guy that just had some ups and downs like most of us and is tired of getting the short end of the stick.

Have fun sailing and keep in touch about your shopping experience you sound like an interesting guy.

As far as the survey goes if you are spending about 10k and it is not required for some reason I think luck plays a bigger part than we would like to admit. Probably the same in most of our life.

You could get a great surveyor who not only does the survey but puts you in touch with guys that can source you cheap parts and knowledgeable professionals and point out something subtle and expensive anyone but him would have missed because he owned the same model boat.

Or he could be a dud and fill out a form and charge you 500 bucks.
You never know.
If you ran trucking company for years you don't need me to tell you that sometimes you're the bug and sometimes you're the windshield.
jimgo likes this.
__________________
The lesson from the Icarus story is not about human failing.
It is a lesson about the limitations of wax as an adhesive.
If you have an engineering problem solve it.
Reply With Quote Share with Facebook
  #64  
Old 02-01-2014
Senior Member
 
Join Date: Apr 2006
Location: Michigan
Posts: 539
Thanks: 29
Thanked 4 Times in 4 Posts
Rep Power: 9
abrahamx is on a distinguished road
Re: 10K$ boat --- Are Insurance and Survey REALLY mandatory?

I did not read through the whole thread yet but I would say that you dont need a survey for insurance through progressive. I set up a policy over the internet for my 1972 9k boat with no question of a survey. That being said, I did get one for myself. It helps to familiarize yourself with the boat and tell you every thing/system you have on the boat and what make,model, etc... for $450 it was way more than worth it.
Reply With Quote Share with Facebook
  #65  
Old 02-01-2014
'81 H22 & '86 Legend 37
 
Join Date: Jan 2014
Location: Port Wing
Posts: 75
Thanks: 0
Thanked 7 Times in 6 Posts
Rep Power: 1
CruisingCouple is on a distinguished road
Re: 10K$ boat --- Are Insurance and Survey REALLY mandatory?

Quote:
Originally Posted by Kalina-Lona View Post
Liability of 2m is pretty common with most marinas.
My gosh. $2M? I just dragged out my slip contract and read it. It says:

4. Tenant agrees to have his or her boat properly insured and shall provide proof of liability insurance in an amount no less than $500,000 per occasion and list the City of Ashland as Additional Insured on the policy. Tenant will be held responsible for damage he or she may cause to other boats in the Marina or to the structure or facilities thereof.
Reply With Quote Share with Facebook
  #66  
Old 02-01-2014
hellosailor's Avatar
Senior Member
 
Join Date: Apr 2006
Posts: 10,057
Thanks: 0
Thanked 50 Times in 49 Posts
Rep Power: 10
hellosailor has a spectacular aura about hellosailor has a spectacular aura about
Re: 10K$ boat --- Are Insurance and Survey REALLY mandatory?

I would guess that the insurance which marinas themselves carry (for the customer boats) is something like "excess coverage" insurance. That is, the marina's insurance policy kicksin AFTER the first 1/4 million, or 1/2 million, or whatever amount the tenant is required to carry, and in the usual insurance rate manner, they marina pays a different premium based on when that coverage kicks in.

So if the marina requires you to carry 1/4 million of liability coverage, maybe they pay 1% of the value of the boats over that. If they require you to carry 1 million in coverage...maybe they pay 1/4% of the value over that. One way or the other, I expect the numbers are all a wash at the end. Either you're paying for your own insurance (not a bad idea) or your slip/storage rate is paying for it via the marina's overhead.

Unless of course you've got one of the marinas that simply carries no insurance, in which case if you've got none either...you're helixed. (A euphemism I'm forced to use in some PG-13 web forums.)

(Percents above taken from thin air, anyone who has real numbers, feel free to provide them.)
Reply With Quote Share with Facebook
  #67  
Old 02-01-2014
Maine Sail's Avatar
Senior Member
 
Join Date: Jan 2003
Location: Maine Coast
Posts: 5,141
Thanks: 8
Thanked 88 Times in 62 Posts
Rep Power: 15
Maine Sail is just really nice Maine Sail is just really nice Maine Sail is just really nice Maine Sail is just really nice
Re: 10K$ boat --- Are Insurance and Survey REALLY mandatory?

One of the sport fishing boats I worked on in my youth was t-boned while sitting in its dock slip by a 20 something in an uninsured Sea Ray type boat full of "babes in bikini's"...

The owner had a 1% hull deductable which amounted to about 19k. When the owner discovered the kid had no insurance, and that this was his second uninsured incident, he let the lawyers out of the cage..

Long and short that kid was still paying for those damages for nearly 10 years.... He was lucky the owner only went after him for his deductible because the owner paid the 40k + out of his own pocket to repair the damage.

He did not believe his insurance company should be coughing up for it. In reality he let the kid off pretty easy.. When I asked why he did it he said the kid needed to learn that life and your actions carry responsibility..... He said his responsibility was to pay for the poor choices he'd made.... He also believed that doing this was his moral obligation to society and if he did not he was just par of the problem.. To this owner 19k was a drop in a bucket and his whole point was to drive the point of responsibility home to a kid who had none, TWICE...

This was an owner who I sat I a parking lot with for 40 minutes waiting for another car owner who's door he "dinged" when a gust of wind ripped his door fom his hand. He tried very hard to write the young lady a check but she refused and claimed she could not even see the damage... I lost 40 minutes of my life but learned a lot about Richard and how he felt about personal responsibility..

If you can afford & you are self insurred, to go up against an owner like Richard, and pay the dues and the consequences of an accident, by all means go for it..... That accident was a few inches fron going from 40K to six figures and this was not a high speed at all just a moment of inattention..
Tim R., tdw, davidpm and 6 others like this.
__________________
______
-Maine Sail / CS-36T


To view links or images in signatures your post count must be 10 or greater. You currently have 0 posts.




© Images In Posts Property of Compass Marine Inc.



Last edited by Maine Sail; 02-01-2014 at 02:45 PM.
Reply With Quote Share with Facebook
  #68  
Old 02-01-2014
Member
 
Join Date: Feb 2013
Location: Port Dover, Ontario
Posts: 80
Thanks: 0
Thanked 5 Times in 5 Posts
Rep Power: 2
aelkin is on a distinguished road
Re: 10K$ boat --- Are Insurance and Survey REALLY mandatory?

To the OP - get the bare minimum of liability insurance. As others have expounded very well, it's not for YOUR property, but for the property of others that your actions might impact.
If a survey is required to get that insurance, then suck it up and pay for it. it'll be a fraction of the cost of ownership. I don't suspect that will be the case, though.
As far as surveys go, if you don't need one for the insurance, don't get one. Buy Don Casey's book, get permission to spend the day on the prospective boat, buy a six-pack, a bag of ice, and make yourself a couple PB&J sandwiches. Spend the day getting close to your new boat. If you can't find anything that makes you worried, don't worry. If you can't negotiate a lower price without a survey, you're not a very good negotiator. (sorry BLJ)

To joethecobbler. I'm sorry. You irritate me. I'm Canadian, I'm responsible, and I haven't mis-spelled a word in 10 years. I work hard at that. (point is on the way, wait for it...)

Like you, I struggle with the quoting on this site. So - I'll just wing it from memory. You telling people in general that 'if they're (sic) not mechanically inclined, or incompetent, maybe they should just not buy a boat' is grossly unfair, condescending, and mean. It would be like me telling YOU, a man who has made over 100 grammatical and spelling errors in THIS THREAD ALONE that he should not be allowed to operate a keyboard.

As many others have stated, your attitude is irresponsible. I respect your right to choice. I do not respect your comments about how others are paying for your benefits because you spent 2 years deployed. Because I'm Canadian, I feel no patriotic obligation to tell you that I owe you something for serving a country.
Jerks serve in the military for selfish reasons all the time. Trust me, I know some.
Good men don't throw the benefits of their sacrifices in the face of others - regardless of the nature of that sacrifice.

Best of luck to the OP.
Cobbler - I hope your boat never ends up within 100 miles of mine. We'll both sleep better that way.

Andy
Multihullgirl and jimrafford like this.
Reply With Quote Share with Facebook
  #69  
Old 02-01-2014
jimgo's Avatar
Asleep at the wheel
 
Join Date: Sep 2011
Location: Pennsylvania
Posts: 2,786
Thanks: 70
Thanked 103 Times in 101 Posts
Rep Power: 3
jimgo is on a distinguished road
Re: 10K$ boat --- Are Insurance and Survey REALLY mandatory?

Joe,
Thank you for your service. We owe men and women like you a very deep debt. I didn't serve, grew up in an area of the country where a lot of my teachers weren't all that enthusiastic about the military. But as I worked for the Coast Guard, on Navy contracts, for Congress, etc., I came to appreciate just how much you guys sacrifice for the rest of us, no matter how short or long your tour of duty. I'm also sorry to hear about your business. It sounds like you had a pretty good run there for a while. But it also sounds like the new gig, especially the ability to help others, is more personally rewarding. I hope, in the end, that it leads to much happiness with you and your family.

Thank you also for keeping an open mind as this thread has progressed. BLJones, David, Maine, and others have said more eloquently what I tried to say, and it seems to have sunken in. I regularly sail with my family (actually, that's basically the only time I sail). So, in my mind, as I read your comments, I was envisioning an accident in which I not only damaged someone else's boat, but also hurt their family. The thought of walking away and sticking someone else with the cost of care is something that I can't bear. Hopefully you'll find that the cost of the insurance will be insignificant compared to the peace of mind that it gives.
davidpm likes this.
__________________
- Jim
Home: Western Philly 'burbs
1980 Allmand 31
1975 Albacore 15


To view links or images in signatures your post count must be 10 or greater. You currently have 0 posts.
Reply With Quote Share with Facebook
  #70  
Old 02-02-2014
neverknow's Avatar
Senior Member
 
Join Date: Feb 2011
Location: Indiana
Posts: 295
Thanks: 1
Thanked 0 Times in 0 Posts
Rep Power: 4
neverknow is on a distinguished road
Re: 10K$ boat --- Are Insurance and Survey REALLY mandatory?

Quote:
Originally Posted by robertluster View Post
Well, Thanks just loads for the heads up, but corrupt lawyers, insurance companies, and a particular nameless hospital are the reason my IRA and 401K and ex wife all went "poof". I'm thankful for the ex-navy surgeon that worked on me - but all the rest should be lined up against a wall somewhere... If anyone were to EVER try to collect 5 or 6 digits from me again, they will just have to suck hind teat - and it's dry...
If you were ever in the military (no matter when) and you have no income or assets you can get free VA medical. Check into it. The VA made some changes in the past few yrs. More ppl now can get medical that couldn't before.

As far as the rest insurance. Just buy a boat US membership for $150 a year and when a marina ask for insure proof flash them your card. Unless you plan to stay in one place more than a few nights I doubt they will careless. If they do just move on.

Sounds like you have had some bad luck, you might as well take advantage of the fact you have been cut free. There are many people reading this who wish they could be so lucky. It's just so hard to give up our cushy lives and just go. You had that done for you. Wish you the best.
joethecobbler and davidpm like this.
Reply With Quote Share with Facebook
Reply

Tags
insurance , old school , survey


Currently Active Users Viewing This Thread: 1 (0 members and 1 guests)
 
Thread Tools

 
Posting Rules
You may post new threads
You may post replies
You may post attachments
You may edit your posts

BB code is On
Smilies are On
[IMG] code is On
HTML code is On


Similar Threads
Thread Thread Starter Forum Replies Last Post
insurance/survey captain jack General Discussion (sailing related) 126 02-22-2014 07:33 PM
Insurance Survey SVTatia General Discussion (sailing related) 6 08-02-2012 10:50 PM
Insurance survey vs purchase survey RossC32 General Discussion (sailing related) 9 03-01-2012 05:05 PM
Insurance and Survey Recommendations otaga05 Boat Review and Purchase Forum 20 05-31-2007 04:55 PM


All times are GMT -4. The time now is 08:18 PM.

Add to My Yahoo!         
Powered by vBulletin® Version 3.8.7
Copyright ©2000 - 2014, vBulletin Solutions, Inc.
SEO by vBSEO 3.6.1
(c) Marine.com LLC 2000-2012