Alaskan Sea-Duction
Guru
- Joined
- Jul 6, 2012
- Messages
- 8,081
- Location
- USA
- Vessel Name
- Alaskan Sea-Duction
- Vessel Make
- 1988 M/Y Camargue YachtFisher
Shhhhhh. I am surprised the States that have water are not requiring boater insurance like cars. Every State requires auto insurance. Its come'n for boaters.Insurance is my business, as most know.
I often hear about the cost of coverage on boats, both hull and liability. When I look at the ratio of what a policy costs vs (a) the value of the vessel (for us, it’s under 1% of the insured hull value) and (b) the potential costs of damaging others, I gladly pay my premium. I get no price breaks, and carry higher that average coverages because the additional costs are minimal.
Lawsuits aren’t cheap.