to insure or not to insure

[haffers]

as iv stated before, i am a novice to the boating world and i need some advise on insurance, i aquired a shetland 535 at no cost and its cost me very little to put right, im not to bothered about insurance but im not sure at all about the laws if there are any at all. does anyone have any advise

 

[No Regrets]

Imagine the cost of mopping up after your steering fails and you hit something?

Insure it, the cost is likely to be under £100.

My Broom is fully comp with an agreed value of £30K for £290.

The Shetland 570 a few boats ago was £99... /forums/images/graemlins/grin.gif

 

[Lakesailor]

Depends where you plan to launch and use it. Some launch sites insist on insurance and on Windermere they need to see insurance when you register the boat (which you have to if it has an engine)

My last motor boat was a 15ft with 70 HP outboard. That cost me about £130, on a swinging mooring for 12 months.

There seems to be a break point at 14 knots. More than that and the price goes up.
Try Noble Insurance. He's a forumite.

 

[Gin]

I find your question quite worrying.

If I damage someone else's property/life I hope that either my own resources or my insurer's will protect me against maybe punitive damages and costs.

Why do you think that a boat that cost you little and on which you have spent/will spend little and which causes damage shouldn't rebound upon you and your current assets and your longtime earning power?

For God's sake be responsible and insure the damned thing for a few quid!

 

[PetiteFleur]

One of the insurance companies does 'Third Party Only' which maybe is what you wantg - but I can't remember which one! Look in Practical Boat Owner or similar mag.

 

[dulcibella]

Yes, your responsibilities to other water-users make it essential that you have third-party cover. Whether you want to cover the boat itself is your choice. Enjoy your boating.

 

[Litotes]

What will you do if you drown somebody? Somebody with a high paying job? One that provides for a big family? Or you hit another boat and drown three people?

You MUST get third party insurance at the very least. I'm surprised you need to ask.

 

[alexrunic]

You need third party this should go without saying!!!!

 

[cashinone]

What would you do if some uninsured idiot ran into you and caused you injuries so you could not work again and needed constant care?

 

[Cliveshep]

You started something there didn 't you? Welcome here anyway. You'll find that most harbours, rivers etc do require you to have a valid 3rd party insurance and produce this for registration purposes when you pay your launching fees. That of course is apart from any licence for the particular waterway you may be on. In addition, you may have to produce a BSS Certificate, (Boat Safety Scheme) which is a bit like a 4yr MOT on your car. This costs about £80 and if you have a gas cooker or an inboard fuel tank you will have to have this most places except some tidal harbours.

The 3rd party insurance costs very little less than Fully Comprehensive, and with some companies actually costs more! If your £1k boat hits and damages a £300k boat the bill would certainly make your eyes water so best advice is get insured for your own sake.

 

[cyberpunx]

been there done that read this
http://www.ybw.com/forums/showflat.php?Cat=0&Number=2323960&page=1&vc=#Post2323960
mine sunk lost the lot not worth the few pounds insurance i beg you to insure it im now onto touching 5 grand getting it re done all down to me . not having insurance and an automatic bilge pump.
non insured beware thats my £0.02p

 

[Avalon]

Get third party only insurance from the Basic Boat Liability Company - www.basic-boat.com . It's cheap, you can arrange it online and you don't need a survey.

 

[Ubergeekian]

It all depends what and where you sail. A 60' power boat could do a lot of damage if it went out of control on the Hamble. A Tabur Yak dinghy used from a quiet beach during picnics might squash some sea weed. If you are not planning to go fast, or near significant numbers of other boats, third party insurance is probably a waste of money. The value of the boat relative to your finances will dictate whether comprehensive insurance is worthwhile.

 

[Lakesailor]

Strangely your Tabur Yak dinghy used from a quiet beach during picnics might chop off a youngster's foot with it's puny 2.5 HP outboard.

 

[Koeketiene]

Been on a H&S course? /forums/images/graemlins/tongue.gif

 

[No Regrets]

[ QUOTE ]
Strangely your Tabur Yak dinghy used from a quiet beach during picnics might chop off a youngster's foot with it's puny 2.5 HP outboard.

[/ QUOTE ]

This is exactly the sort of thing one buys insurance for.

'The unexpected'

Hospitals, Courts, Mortuaries....all full of people who 'didn't think it would happen to them'

 

[Lakesailor]

No. Just getting older and wiser. /forums/images/graemlins/grin.gif

 

[Ubergeekian]

[ QUOTE ]
Strangely your Tabur Yak dinghy used from a quiet beach during picnics might chop off a youngster's foot with it's puny 2.5 HP outboard.

[/ QUOTE ]
OK then, how small and slow would you go before you didn't bother? My son has a 3' long vinyl inflatable - how much 3rd party cover would you recommend?

Insurance is sensible if the risk is significant. Let's not get caught up in paranoia, though.

 

[Lakesailor]

Don't be obtuse.
If you launch a boat with an engine at many harbours, marinas and slipways you have to have insurance.
I think insurance companies are money-grabbing thieves, but there are certain risks that could personally bankrupt you and short-change unfortunate victims of accidents if you're not covered.

 

[PuffTheMagicDragon]

[ QUOTE ]


Insurance is sensible if the risk is significant.

[/ QUOTE ]

Insurance is sensible. Period.