General Category - Pearson Owners and Enthusiasts > General Discussion

Boat Insurance scam-

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Sea Haven:
Like anything else, personal comfort.

Hurricane Irene had a piling wear a 1" x 3" hole right through joiner where the hull meets the deck at the stbd aft corner on my '02 Mac 26X

Now I'm MANY things, but NOT a fiberglass guy. I suppose the day will come when I learn, but not now.

The estimate to repair this small hole, blend it in and replace the rub rail?
Some $6200 which included the haul. Since I was insure by BoatUS, I had it done.

It's a personal choice, what risk are you willing to take? Boating is somewhat risky, maybe not like hanggliding, but risky enough for this sailor to want protection on his vessel regardless of age.

And it's not so much my loss that I'm worried about, but the sailor at the dock I hit when the wind kicks up, the A4 fails, and I bash his pretty $500k yacht. Yes, and to boot he's an ambulance chasing lawyer to afford that yacht.

BTW, my yearly Ice Damage coverage is worth it alone

Murhpy's law is a clear and present danger in my life.

"Sub" Ed

Alma:
Liability coverage is important if you own anything.

selene:

--- Quote from: Vantage on March 17, 2015, 03:39:14 PM ---Suppose, just for the sake of discussion, someone (certainly not me) was to decide not to insure a boat. A P323. Other than the chance of a total loss of the boat, what other down side would there be. Convince this dumb ass he or she really needs insurance on a 35yr old boat. The bone head sails mostly on Lake Erie.

--- End quote ---

Not sure of local regulations, but:

- Say you do an accidental jibe and ram a nice pretty Alerion. Or Swann.  Nothing big - bent stanchions, scratching the paintwork, maybe tearing one of their sails. But on those boats, repairs are not cheap!

- Through-hull fails, you sink.  After a short time a nice sheen starts appearing on the lake, and some helpful person alerts pollution police....

- Through-hull fails, you sink. Depends where, of course, but let's say it is right in a busy channel.  Guess who pays for recovery and removal?

- Makes me a bit sick to say this, but...you hit a channel mark, the rig comes down into the cockpit and kills a passenger, injuring another...happened in my club :=(....

So if one of those happens, you could be liable for thousand...tens of thousands...hundreds of thousands, even millions of dollars.

As always, it is a risk/return ratio.  If you were not in the US, the equation would be different.  But in the US, a highly litigious country with a legal system demanding thousands even to prove your innocence, insurance for boats seems to be a no-brainer.  If you want to cut costs, drop the insurance on the P323, but keep the third party and other liability stuff! (says he technically).

<Litigious environment disclaimer; I don't know what I am talking about most of the time, so don't take this as a recommendation or advice :-)>

Just my 2 cents....

Vantage:
Wow, you guys scared the crap out of my friend. He now has liability coverage and with all the money he has spent on improvements and upgrades, he may buy full coverage.  Thank you all!

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