How many insure their boat with only liability insurance? - Page 2 - SailNet Community
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post #11 of 56 Old 05-03-2013
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Re: How many insure their boat with only liability insurance?

Lawyers tell me the ability to collect on a civil court judgement is dependent on the mark's ability to pay. Best research that before paying for a law suit you have no chance of collecting on.

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post #12 of 56 Old 05-03-2013
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Re: How many insure their boat with only liability insurance?

I have a liability only policy with $300k limit and the environmental coverage...it's amazingly inexpensive and helps me sleep at night. Not having comprehensive also keeps me focused on not letting her sink!
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post #13 of 56 Old 05-03-2013
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Re: How many insure their boat with only liability insurance?

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Originally Posted by Captainmeme View Post
When we go, soon please Neptune, we will carry only liability. We can afford the loss of the boat. We can not afford the fines for a fuel spill or recovering the hull should she sink.
That's exactly the point. If you hit someone, or if she sinks, the environmental authorities will want your head on a platter.
imho
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post #14 of 56 Old 05-03-2013
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Re: How many insure their boat with only liability insurance?

I had 2 million liability last year. (rider through the house/ business) This year I will have it covered for agreed value as well. It's worth more this year...
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post #15 of 56 Old 05-03-2013
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How many insure their boat with only liability insurance?

I got liability (300k maybe?) with no survey and no questions asked. At like $130 a year it's not worth skipping.
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post #16 of 56 Old 05-03-2013
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Re: How many insure their boat with only liability insurance?

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I have a liability only policy with $300k limit and the environmental coverage...it's amazingly inexpensive and helps me sleep at night. Not having comprehensive also keeps me focused on not letting her sink!
+1. I've got about 85k in my boat and carry liability only to keep the occasional marina happy.

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post #17 of 56 Old 05-04-2013
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Re: How many insure their boat with only liability insurance?

It was only $15 a year to cover my boat and trailer for $8000. I wasn't going to get full coverage but for $15 I couldn't pass it up. They said book value was only $3200 for my boat but still gave me the $8000 coverage. But if I were to sell my boat I would be asking that much. Would I get that much,well.........
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post #18 of 56 Old 05-04-2013 Thread Starter
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Re: How many insure their boat with only liability insurance?

I guess another consideration is the length of the vessel.

It seems it is easier for vessels that are 35' or less to get reasonable insurance, where as vessels over that size, and older than 20 years, to get anything that seems reasonable.

To further define the question, how many people with vessels over 35' carry only liability only?

But even that is curious, do vessels greater that 35' sink more than vessels that are less than that size? Wonder why the distinction is not about whether a boat is trailerable or not? That seems realistic? Is it that much harder to take care of a 40' than a 35'?
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post #19 of 56 Old 05-04-2013
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Re: How many insure their boat with only liability insurance?

In my talks with insurance brokers they seem to be concerned about your ability to dock bigger boats without doing to much damage to the neighbors

Seriously around here its like parking cars at a Ferrari dealer NOT to many cheep incidents

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post #20 of 56 Old 05-04-2013 Thread Starter
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Re: How many insure their boat with only liability insurance?

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In my talks with insurance brokers they seem to be concerned about your ability to dock bigger boats without doing to much damage to the neighbors

Seriously around here its like parking cars at a Ferrari dealer NOT to many cheep incidents
I carry a 100 Ton Master, with towing and sailing endorsements, I have yet to have an insurance company give me a break for my experience. Age of the boat seems to be more of a factor than operator experience.

And if marina location and the value of my neighbors boat is important, then give me a run down marina with people who are not so concerned about the value of their boat more than they are about the fun they had out on the water. A well weathered boat is more pleasing to my eyes than a shiny Clorox bottle with strings attached.
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