Join Date: Apr 2006
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Re: What are typical marina liability insurance requirements
"I am surprised at the low numbered values."
No surprise really, just politics as usual. Some loud mouth northern liberals start shouting about "Insurance! You've got to make them have insurance! Where is that insurance fairy?!" so the politicians make the rubes happy by passing a law requiring insurance. But, they make sure it is CHEAP insurance because all the other voters are screaming "We don't want to pay! We want cheap insurance! Where is that insurance fairy?!"
This is the reason why some states only require $10,000 automotive insurance--in a day when the average car costs over 3x that much and one trip to the ER can generate a $800 ambulance bill plus another $17,000 for just the initial checkup and a couple of xrays or an MRI.
The insurance is NOT DESIGNED to make anyone whole. It is mandated and set at a point which will shut most of the whiners up, and that's OK because when they find out their insurance was worthless...hey, they got what they paid for. No one can really read their policy anyway, they are purposely typeset in a manner that intentionally violates every typesetting standard for legibility and readability--even when there are rules specifying how it has to be typeset. (And there actually are rules about that, even the SEC has rules about how contracts can be typeset, and every typesetter can tell you how they've been paid to work around them and make things unreadable.)