Do you guys really have insurance???

[hellosailor]

"Wow! Rates seem to vary dramtically. "
Trying to compare insurance rates is difficult. First you have to compare the policies line by line to see if the coverage is the same, for amounts and types and exclusions. Then it will still vary by the age of the boat, the experience of the boater, the location, other policies you may have or groups you are a member of, the sailing area issued for, and finally how much profit the insurer wants to make.
I'd guess "same same" policies can vary by a full 100% between two carriers, and "gee it looks the same" can vary another 100-200% between carriers. An awful lot like auto insurance. Or mattress sales.<G>
Of course when it comes to payout and servicing the account...I know someone who got a very generous and prompt payout for storm damage (grounding) because the appraiser that was sent out just wanted to get back on land--it was a rough day. Meanwhile, no one thought to haul the boat--and the owner got stuck buying a new rudder. (Ouch.)

Kinda like asking "How much should a good bottle of wine cost?" < g >

[Cruisingdad]

I gotta agree with my good friend Cam - Find a way to pay for it. After Gabriele (which we rode out on board), Charlie, Jean (or Gene... I don't know), Francis, (ooohhh, yawwwnnnn), Ivan - we realized that when they come, the best thing you can do is get out and get out early.

I am not trying to start an argumet with someone here, but I am going to say this anyways as someone that has rode out a hurricane on their boat (with his family): How many of you that talk about this big anchor you bought to protect your boat have ever rode out a hurricane on board??

I can show you video footage, if you want to come by some time.

Even if you had an anchor the size of the Exxon Valdez, it would not matter. Why?? Cause some jerk in the Sea Ray is going to moor 10 feet away from you, throw out his 10lb danforth at 3:1 scope, then head back to shore on his dink for a nice drink as he finished his hurricane prep in record time. Basically, it is all the other ding-dongs around you that will take you down.

Also, what if you tear up a really nice sea grass bed?

What if you hole your boat or inadvertently spill a lot of diesel in Vanderkamps??

What if YOU actually hit the Sea Ray and cause damage?

As was said before, almost all of the marinas I have been to require insurance now.

Nah. Get the insurance. If you want to save some money, park that tub in Texas or NC or some of the other places that it is cheaper. Stay out of FL for the Hurricane months.

Just my opinion. Other differ.

- CD

PS Just to be technical, Gabrielle was officially categorized as a very strong TS. I think it was officially tracked a 1-2 mph short f hurricane strength. However, my wind said different... but whatever.

[Latitude9.5]

southeast florida, 100k value, $3800 per year. Dont see any other option. God forbid something happen we'd be homeless and broke....... now we're just broke

[seafox]

$140k insured value....$900 NZD

Doesn't cover offshore 150kms.

[starfish62]

Ok. Ok. You have me convinced we need to shop around. My credit isn't a problem because I have excellent credit. We are still living on land as my teen has two more years of high school so losing the boat would break our hearts but wouldn't finacially devastate us. The condo might as everything keeps going up due to the hurricanes! I am the conservative one and my husband is the rebel. He detest insurance and thinks it is a big scam. Last boat was in a marina here for 8 months and visited the local boat yard without insurance. Our current, newly purchased, boat is in the yard without insurance. Nobody has cared. Nobody we know has insurance on their boat.

We plan on living aboard as soon as teen is in college but might remain here on a mooring to work and pay for said college and build up the kitty. Ever since we bought the "new" boat we can't keep the cars working! When it rains it pours. I am hemoraging money right now!

[Ed Steele]

Last year we paid $9,000 for $500K hull value for a crew of two to cross the Indian Ocean, transit the Gulf of Suez, up the Red Sea and into the Med. The underwriter is Russian. Choice of one company willing to underwrite us. If I wanted to self-insure, I would have to pay off the boat loan. I’m sure my mortgage company thinks we are moored out in a nice land-locked fresh water lake, somewhere in Texas.
Ed

“A man should always live within his means even if he has to borrow to do so”

[dana-tenacity]

[quote=Cruisingdad]
I am not trying to start an argumet with someone here, but I am going to say this anyways as someone that has rode out a hurricane on their boat (with his family): How many of you that talk about this big anchor you bought to protect your boat have ever rode out a hurricane on board??

Me, still happy to go without ins, not happy without the big anchor(s).

[seafox]

You don't need insurance untill you need it.....

You can cross the road a few times to with your eyes closed and probably not get hit.....

[ssullivan]

Adding to my post, I have $120K agreed value replacement of vessel, a few hundred thousand in liability for collision, accidental death, medical payments, etc... to 100nm offshore, anywhere in the USA, hurrican season or not - $500 (or a little under per year)

(I wouldn't venture south of VA during hurricane season unless it was to Trinidad and Tobag - but that's just me. Nothing to do with insurance.)

Ins company is Allstate.

Submitted 100 Ton Master's License and STCW-95 marine credentials to get this rate. Good company so far, luckily have had no claims.

[ssullivan]

[quote=dana-tenacity]

Originally Posted by Cruisingdad

I am not trying to start an argumet with someone here, but I am going to say this anyways as someone that has rode out a hurricane on their boat (with his family): How many of you that talk about this big anchor you bought to protect your boat have ever rode out a hurricane on board??

Me, still happy to go without ins, not happy without the big anchor(s).

Cruisingdad:

I'm curious about your credentials. Not trying to start anything. I'm just curious because you portray yourself as an expert in marine systems and in riding out storms and such. I also notice your posts reads more like a magazine article or something. Very well put together. To that end, I'm curious what your credentials are in the marine industry.

Again, this isn't meant as an attack... more of a curiosity as to who is writing the CruisingDad posts. I'm genuinely curious about your background as a professional mariner/marine repair technician.

(Sorry for the off topic post but inqiring minds want to know! ha ha)

[Cruisingdad]

SSulivan,

I will PM you.

- CD

[Cruisingdad]

Hi SSulivan,

Just read your post today. Sorry for the late reply. I tried PM you, but your box is full???? Oh well, I will just hijack this thread for a moment. Many apologies to the original poster.

Ok, let's see - my credentials. I have been cruising and sailing large boats since about the mid 90's I guess. We eneded up going F/T liveaboard on our 380 late 90's or early 2000's in SW Fl which we based out of while cruising around with the kiddo - it was one kiddo at the time. He is now 7. So, I guess that was 2000? or so. Also had 2 worthless dogs on board which is a different, and very long story!! We had a lot of fun and really enjoyed oursleves. Ended up even buying a house on the water out there in Cape Coral off of the ICW if you know where that is. It is basically the water side of Ft. Myers in SW Florida.

We have been VERY active in the marine community. I have worked many boat shows for Catalina (as an owner, not a rep of Catalina) over the years - long before we even had kids. After some time, we sold our 380 and were going to buy a trawler for more far off adventures. I really did a lot of research and settled between Nordhavn and Krogen. We lost many offers trying to get one (one BY AN HOUR!) and ended up buying a Catalina 400 instead (this is a very, very, very long story that I will just leave at that).

Since then, I have taken on the role of Technical Editor for Mainsheet. If you do not know what that is, it is the Quarterly Catalina publication for Catalina owners. THe Tech stuff is reviewed by Gerry Douglas - but it is mostly run by the owners. I have put out several other publications in magazines, mostly Latts & Atts, with 4 more coming out who knows when. Most of my Latts & Atts stuff is on cruising with kids and funny (dumb) things on boats. I write my stuff there as Cruisingdad, so you can find it if you look.

I do a LOT of writing outside of these - but it is not sailing related.

As far as an expert - I am not an expert in anything. I learn something new every day. I enjoy speaking with differnt cruisers and people throughout the world about sailing and boating. You will find I often don't agree with many of them - but it is a fun discourse.

I participate in these forums, Mainsheet, Latt's & Atts, etc for one and one reason only: To help out in a industry and lifestyle that I am VERY passionate about... very! There are very few of us that are truly passionate about cruising, don't you think? I try to help and give the best advice I possibly can. I am sure not getting paid for it. Maybe some people will listen, maybe some will not. But different opinions and viewpoints give you more data to make an informed decision.

Why do I do it??? Because I try to help. That is what it is all about: Giving back.

My wife and I are some of the youngest cruisers you will find. I am 36, Kris is 35. We have been very blessed financially and that has allowed us to enter this at a young age. Most of the folks we met out there were 20-30 years older. But no problem for us... still good people and good friends.

The only thing about the internet I do not like is the anonymity. People put on a different face here and say things they would never say in person. That drives me crazy!! With me, what you see is what you get. Come by - say hello. I do not mind. I am very open and enjoy meeting people. I am currently at Cedar Mills Marina in Lake Texoma - where they build the Valiants. I litterally can see them laying up the hulls from my tub. They really helped me outfit my last boat and are really helping on this one too. Great people and great boats.

Our current plan is to finish outfitting the 400 and go off cruising - a lot further and longer this time. I now have 2 kids (3&7), and 2 more worthless dogs (one which is really old and probably will not live long enough to go, and the other that is not the best type of dog to go and will stay with family back home). My mom and dad are retiring and selling their home and are (even as we speak... hopefully... fingers crossed) buying a boat to go cruising with us.

You will see me mention this a lot in Sailnet: I AM VERY EXCITED!! Most people have to leave their family behind to go cruising... ours are going with us!!! I have never run across this, in all my years of boating. Have you!!!?? (smile).

So, that is me. It is very long and maybe too detailed, but you asked! If you are ever anywhere near Cedar Mills, come on by and say hello. I love meeting people I chat with here and on sailnet.

Take care. Enjoy speaking with you and everyone else.

- Brian/CD

[Weyalan]

Just to add my fer cents worth:

Hereabouts, if you want to berth in a marina for a night, in many cases the marina operators will want to see documented evidence of insurance... No insurance, no berth. My boat is insured for the replacement cost (only about $70k), for coastal sailing (up to 200 nautical miles offshore) for about 1% of the insured cost (i.e. $700 per year). I don't like paying insurance any more than the next guy, but I see it as a necessary evil and grumble, but pay up.

[cat man do]

Originally Posted by dana-tenacity

When I discovered the cost of ins for a full time offshore cruiser I went and bought the biggest anchor I could fit on the boat instead. The one time I used it , it was waaaay better than an insurance policy (I'm still here).
Having the confidence to sail without ins it now annoys me when places (yards, marinas, countries) demand it. Just part of the dumbing down of the cruising fleet.

I was going to go the big anchor option as well, and still will, but looking back through previous claims the big anchor won't help with:

:Other idiot's dragging into me in a busy anchorage [ and then they up anchor and piss off ]

:Other idiot's panicking in close quarter's situation and letting go of the wheel and hitting me [ yes it did happen ]

: spitting 3 rig's over the side, one punching bloody great hole in cabin top [ no mast on the stinker ]

: Lightning strike and toasted everything [ see above, it may help me ]

: hitting isolated uncharted rock and punching a hole through the hull [ it's ok, I had 2, and watertight BH ]

: mysterious damage done at the mooring [ apparently some idiot lost their engine so hit the first boat they saw, mine, and no details given or taken by witness ]

: Stolen 15 hp Johno

:Stolen 9-9 Yammie 4 stroke

: Stolen dinghy [ I hope they enjoyed it as the 5oz glass was breaking down and very itchy, I had it on the beach ready to repair]

We have only ever paid 1% premium, ever, so feel it's money well spent considering the return on my investment.

Dave

[dana-tenacity]

Dave, you've had a long and difficult life. I had a drunk hit me in his dinghy once ( I repaired the chip in the gelcoat) and that's it.