Kawini
Senior Member
I am buying a boat from a gentleman who will carry a small loan for about a year. As a condition of this short-term financing, he is requiring that I maintain appropriate insurance coverage until the loan is paid. I find this totally reasonable, and would have of course insured the boat in any event.
The wrinkle is that the seller is -- for some reason -- requesting that I maintain "liveaboard insurance" on the boat. I live in New Mexico, and I plan to cruise the boat throughout the PNW for 4-5 months/year. For the remainder of the year, the boat would be alone in its slip with occasional visits and short cruises. My understanding is that this is not "liveaboard."
Can someone out there in the insurance industry (looking at you PauHana) clarify for me what constitutes "liveaboard" status insofar as insurance is concerned? Does 4-5 months recreational cruising constitute liveaboard status for purposes of insurance?
Thanks !!!
The wrinkle is that the seller is -- for some reason -- requesting that I maintain "liveaboard insurance" on the boat. I live in New Mexico, and I plan to cruise the boat throughout the PNW for 4-5 months/year. For the remainder of the year, the boat would be alone in its slip with occasional visits and short cruises. My understanding is that this is not "liveaboard."
Can someone out there in the insurance industry (looking at you PauHana) clarify for me what constitutes "liveaboard" status insofar as insurance is concerned? Does 4-5 months recreational cruising constitute liveaboard status for purposes of insurance?
Thanks !!!