Thread: boat insurance
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Old 05-14-2008, 12:36 AM
McGillicuddy McGillicuddy is offline
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Default Re: boat insurance

That Boat US Rate is very reasonable. Just remember, insurance is first and foremost, fiscal responsibility in the event of a catastrophe.
The boat is replaceable - the lost lives or serious injury is what will bury you financially, in the event of a suit. Frankly, no one will give you a fair restoration value on an older boat, classic or not, without billing you a small fortune if there is no lien holder on the boat. And I don't think the VISA counts Liability bang for the buck is what will keep you afloat in the event of a tragedy. In the financial pyramid, the first line of defense is insurance. The most important part is liability. Focus on that. Boat US and a few others seems to understand that, that's why "agreed value" rates are reasonable. Don't get hung up on replacement value... P.S. I hate paying for insurance nearly as much as taxes and interest, but just that one time I needed it and had it, has saved me from a lifetime of debt I would still have now if I hadn't had it... Andmake sure you get the vessel assist or sea tow or whatever the program they have up there is, too. Good Luck.
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