Liveaboard insurance

[BobOwen]

How many folks out there, who are actually cruising liveaboards, have insurance?

For those that don't, do you have problems not being able to show proof of insurance ( Marina's, officials etc) anywhere?

From my limited conversations with liveaboards so far, it looks like a 50 / 50 split but I don't know if thats representative. There seem to be those who are relatively well off who pay it, and those that don't who are on a tighter budget and have invested in serious ground gear. Or as in one case, neither!

I'd be interested in your comments on this.

<hr width=100% size=1>Beer - its not just for Breakfast you know.

 

[billskip]

are you talking uk or abroard? if no ins in uk you can always speak the lingo and go to small claim court if third party involved..if abroard (maybe its compulsory any way) you would be at fault even if you were nowhere near your boat at the time..live aboard ins seems a little involved but at least have third party liability
..IMO the risk of any kind of accident where a claim can be made against you in this world of"Ill Sue" one should seriously consider ins..personaly i think its a rip off but .....

<hr width=100% size=1>Bill

 

[AndrewB]

Carrying insurance isn't just a matter of the dosh, these days it's finding a company willing to offer it, at any rate for cruises beyond Europe. They are getting very fussy about who they will insure.

There's an insurance clause in the T&C of most larger marinas. I've never been asked to produce evidence of insurance for a short marina stay at daily rates, but in the last few years almost always for an extended stay. However I think it would be always unwise to enter a marina without third-party coverage. If an accident did occur, even minor, I can well imagine the yacht being held.

 

[ccscott49]

I liveaboard in the meddy, lie to anchor all summer and marina winter, I am insured, if you arent, the marinas will not accept you, third party insurance is compulsary in every marina I have been in, some places, like Sardinia, lieing to quays etc, dont ask, maybe so in quays etc, in spain, but I would not go un-insured. Theres virtually everything I own in or on the boat.

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[scarlett]

Third party is compulsory in Greece and evidence in Greek, will be sought by the Port Police.

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[piscosour]

I recently asked my insurers, Pantaenious, about the implications of extending my cruising range for outside the med. The price went up a little until I mentioned an over the pond jaunt and was told my boat's value is too little to be insured. Under £50,000 hull value doesn't seem to be worth insuring. If I go for third party only, they will cover me and the premium came right down to about £150. Less than a quarter of what I am currently paying. If you weigh up the potential cost of a claim for damage to your own boat, which you may be able to fix yourself or at least be in control of the repairs to a certain extent, against a claim for pollution in Turkey which is covered on a third party policy it seems worth the cost. The potential damage to your own boat is total loss, the potential third party liability is considerably higher in this blame/claim environment. IMHO I would make sure I had third party at least, you never know when the next boat you drag into has a lawyer on it.

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[BobOwen]

I should have made myself a bit clearer - and thanks to those of you who replied.

I was wondering who had loss insurance, not third party. As BillSkip mentions, all the litigation and the "Where there's blame there's a claim" attitude means 3rd party is pretty vital if you want a little reassurance.
I can just imagine a jet skier whacking into the side of the boat and claiming I should have posted cardinals warning him!

How do you provide insurance in Greek, Turkish, Arabic or any of the other places you might call Scarlett?

What I'm really trying to see, is just how many have insurance that covers total / partial loss of the boat. AndyBs post is sadly true from what I've heard.

<hr width=100% size=1>Beer - its not just for Breakfast you know.

 

[AndrewB]

\"Virtually everything I own\"

This is an interesting point in its own right, where I'd like to hear other liveaboard strategies. Mine has been the opposite, to buy a yacht that I could afford to lose if the worse came to the worse. So it is actually much more modest than theoretically I could live on. I got rid of almost all possessions of any value for the same reason -- just three cardboard boxes of 'treasures' stored in my sister's attic.

If I felt I could lose virtually everything, it would so cramp my style in terms of places I am prepared to go, minor risks I'm prepared to run.

The logic of my approach would be to carry third-party insurance only, but unlike others I've always been offered fully comp on reasonable terms, though with high excess. So that's what I do. In practice I haven't ever made a claim myself in about 30 years of yacht ownership. Three times had third party ones made against me, for trivial cosmetic stuff that if it had happened to me, with a more knock-around type of yacht, I would have sorted myself.

 

[ccscott49]

Re: \"Virtually everything I own\"

Once I sell Englander and come down in price and size, I will not fully cover the boat, just third party in the meddy, and probably nowt when I cross the pond. Right now, I need the protection of complete cover, wish I didnt it expensive for a boat of this value.

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[mocruising]

Re: \"Virtually everything I own\"

Generally agree with AndrewB I have insurance which is high due to high insured value but one way to keep the premium down is to opt for a large excess. I asked myself why do I want/need insurance. With a large part of my savings tied up in the boat I self insure the first £5,000 (The excess) then the remaining amount is covered. This way I do have peace of mind, and if I were to be involved in a major claim then it hopefully would be covered. Incidentally having just cruised from UK to southern Portugal over the past 3 months I was never asked for proof of insurance once but most Marinas expect it, however you rarely have to sign anything saying you except their terms and conditions. TPL in my opinion would be essential.

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[scarlett]

Certain countries require evidence of third party insurance in their own language but most are happy with English. You should check with the RYA for the others that you might come across or with the insurance company of your choice. They all know what to provide for where.

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[temptress]

Although not back in the UK now. I have in the past always has full insurance cover when I went away.

i used Pantaneus for 10 years till they got too expensive and then switches to St. Margs.

However now looking at this and getting cover to cross the pond (and beyond) is proving difficult. Not just cosatly but difficult to find as well.

I'm not sure what I will do but will always need 3rd party as this is needed In the MED, Carrib, USA and most other places these days.

As for full cover - interesting and difficult choice which i will not have to make till next Sept.

good luck

<hr width=100% size=1>Temptress of Down
Southsea Marina
Hants

http://hometown.aol.com/temptressofdown

 

[ccscott49]

Remember peeps, please, I have no house, no sisters attic, nowhere else and nobody in the UK, so of course I carry everything aboard the boat, I am not a six month liveaboard, I am a permanent liveaboard and have been for 10 years now, I have to have working clothes etc, so cant live in a pair of tatty shorts (all the time) and have no intention of "swallowing the anchor". So I suppose this makes me a little different than the "usual" liveaboard. Do you insure your house in the UK, I insure my "house".

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[Sea Devil]

I agree with ccscott - when my home was my boat and I was a full time liveaboard I was insured all the way round the world and thought it was worth while - now that Bambola is a bit of a toy I am still insured but if they hike it too much for the med or the Atlantic next winter then I will probably just go 3rd party...

On that subject I firmly belive everyone should have 3rd party cover. I nearly got wiped out on anchorage in a blow in trinidad. A bigger steel boat dragged down the anchorage and only missed sinking me by feet! I think we owe it to our friends in other boats to be covered if we damge them.........

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