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  1. #41
    Join Date
    Oct 2012
    Posts
    2,602

    Default Re: How much insurance do we need?

    Insurance is like any other product you choose to by. You often get what you pay for.

    The lowest price may not be the best deal. Many years ago, I had cheep comp insurance through a car club. I had an accident. eye opener. The garage demanded I pay cash up front for the repair. Turns out they were familiar with my insurance company and said they had to much trouble getting paid. I got some of the money back but it took several months and a lot of arguing.

    I had a boat I bought for peanuts of the internet. I needed insurance to enter a local race and to have a spot in a marina. The boat was small enough I got cover through my house insurance at no extra cost. The cover was minimal third party. The boat was worth next to nothing. It worked for me. Minimum cover. Minimum cost.
    My current boat cost me a significant amount. If I loose this one it would be a big loss for me. So good insurance cover was important.

    I got my boat insurance through a Broker. The Broker has a good rep, I am covered for what I wanted to be covered for. It cost me a bit extra. Not a lot extra. To sail a bit further afield. which is what I was looking for at the time.
    If something happens, call the broker, they will arrange what needs arranging. Is it worth it. Annual insurance is a significant part of my budget, which is tight. Even so I will pay a bit extra for a better product. If I think its worth while.

    If extra liability is something you feel is important to you. Or is better comprehensive cover for your nice boat. Your Choice.

    Insurance just an expense for nothing. Until you need it.
    Last edited by Uricanejack; 09-01-18 at 07:15.

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