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Insurance early warning?
"Dave" wrote in message ... On Tue, 11 Apr 2006 20:11:10 -0400, Wayne.B said: While nobody else "forces" people to insure their boats, my impression is that most boats are insured whether or not purchased on credit. If you have assets other than your boat, and hopefully you do, going without insurance is extremely unwise. One serious liability or environmental claim could force you into bankruptcy. If nothing else, the insurance company will defend the claim with seriously competent lawyers, at their expense. That's a slightly different issue. What people seem to have trouble grasping is that insurance is for risks you can't afford to assume yourself. You pay someone else to take on those risks. For those you can afford, you carry them yourself and save the money you'd otherwise pay an insurer. Bingo! |
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