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Barquito 10-28-2008 12:22 PM

Little or no insurance?
I have a Catalina 22 that is kept on a small(ish) inland lake. Do you think I even need insurance? The boat is worth about $3500-4000. Compared to automobiles, it seems unlikely I will do damage to other property, and there isn't a ton of stuff that would be ruined even if it sank and was recovered. What do you think? (I'm actually required to carry liability insurance at the moment to cover the city owned mooring field if THEY do damage to other property)

Delirious 10-28-2008 12:30 PM

Our marina requires $300,000 liability coverage.

Check with your agent and see if your homeowner's or car coverage includes the (trailerable) boat for fire or theft and a goodly deductable.

tommays 10-28-2008 12:47 PM

You are really looking to protect your other personal assets

Even If something is not your fault you will still be be found some % at fault in are current logical everbodys pays in and accident system ;)

sailingdog 10-28-2008 12:48 PM

There are other reasons to carry insurance on a boat, aside from it sinking or breaking loose and hitting things... Most marinas require at least $100,000 in liability coverage. Mine, like Delirious's requires $300k.

On a small boat like yours, you might want fire, theft or loss coverage to cover your boat and possessions. On larger boats, you might want salvage and environmental remediation coverage in the case your boat sinks and causes an oil slick. :)

N0NJY 10-28-2008 12:48 PM

I just insured a little boat like that. I have Shelter Insurance. Been with them 20 years. No accidents to speak of, I know the agent personally and he's been with me all that time.

He insures my vehicles and my home.

He did my insurance on the trailer, boat and it's insured in the water, on the trailer, at the house, or Heaven Forbid something bad happens, UNDER the water....

all for a total of 112 bucks a year.

N0NJY 10-28-2008 12:52 PM

(then again, I won't be staying in any Marinas either and I'm covered for liability if I hit someone)

WouldaShoulda 10-28-2008 03:58 PM

Homeowners or renters may cover bodily injury but nothing for wreck removal.

See your agent PRONTO!!

Duckwheat 10-28-2008 04:03 PM

I would roll those dice. Property loss is negligible. Homeowners should extend liability to your boat, double check.

Keep the money in your pocket. Lot's of scared people in the world not willing to take even a little risk.


tdreffin 10-28-2008 04:17 PM

I just sailed around the world on a 44' catamaran without insurance, never had an accident or damage. My husband and I preferred to put money we'd use for insurance into good navigational gear and tackle. It's truly a matter of how confident you feel about the area where you store your boat, as well as your abilities to handle emergencies when underway.

hellosailor 10-28-2008 04:29 PM

"Homeowners or renters may cover bodily injury but nothing for wreck removal." And environmental fees. Remember that if you sink, and your outboard fuel can causes a "fuel spill"...You'll probably get a $10,000 invitation from the USCG or other parties, to start with.

Homeowner and auto policies are often very competitive for small craft, just very limited in what they cover.

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