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boat liability insurance needed Calif?
Hi, I'm planning on buying a very inexpensive ~26 foot sail boat. I know
most marinas require some sort of insurance, right? How about transient anchorages, moorings, etc run by the county/state? The boat is so inexpensive that I wouldn't really care if it were a complete loss, so the only insurance I'd get would be that which is required. Is that liability insurance? Is there some sort of standard liability insurance or something else super cheap? Thanks! |
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#2
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Hi, I'm planning on buying a very inexpensive ~26 foot sail boat. I know
most marinas require some sort of insurance, right? How about transient anchorages, moorings, etc run by the county/state? The boat is so inexpensive that I wouldn't really care if it were a complete loss, so the only insurance I'd get would be that which is required. Is that liability insurance? Is there some sort of standard liability insurance or something else super cheap? Thanks! If the boat is "super cheap" for certain reasons, you may not be able to get hull insurance on it in any event. It is certainly responsible, even where not legally required, to carry liability coverage. It might be tricky to find an underwriter who will issue a liability policy on a boat that might be otherwise uninsurable. One good option is to see about "umbrella" coverage through your regular general insurance carrier. You can buy a few million dollars worth of umbrella coverage for relatively little, (probably more than enough to cover your butt if you were moored next to a megayacht and a galley fire broke out and spread). The umbrella coverage also provides liability for most of the other activities you pursue, or if somebody slips on a wet sidewalk in front of your doorstep, etc. If you go the umbrella policy route, do make sure your agent knows that you have a sailboat and make sure that boating isn't a risk that's excluded somewhere in the fine print |
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#3
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Hi, I'm planning on buying a very inexpensive ~26 foot sail boat. I know
most marinas require some sort of insurance, right? How about transient anchorages, moorings, etc run by the county/state? The boat is so inexpensive that I wouldn't really care if it were a complete loss, so the only insurance I'd get would be that which is required. Is that liability insurance? Is there some sort of standard liability insurance or something else super cheap? Thanks! boats under 26 feet (actual) and 15 (?) hp usually are covered without additional fee under your homeowners/renters policy. if you home/rent and/or larger boat, many standard insurance companies (Allstate, for instance) will sell a liability only policy on boats. Most marine insurance agents don't want to even hear of libability only policies. Too little commission to be worth the effort. They tell such doesn't exist. |
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#4
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JAXAshby wrote:
Hi, I'm planning on buying a very inexpensive ~26 foot sail boat. I know most marinas require some sort of insurance, right? How about transient anchorages, moorings, etc run by the county/state? The boat is so inexpensive that I wouldn't really care if it were a complete loss, so the only insurance I'd get would be that which is required. Is that liability insurance? Is there some sort of standard liability insurance or something else super cheap? Thanks! boats under 26 feet (actual) and 15 (?) hp usually are covered without additional fee under your homeowners/renters policy. if you home/rent and/or larger boat, many standard insurance companies (Allstate, for instance) will sell a liability only policy on boats. Most marine insurance agents don't want to even hear of libability only policies. Too little commission to be worth the effort. They tell such doesn't exist. I would add however, that you should not assume your homeowners insurance automatically covers your boat. Years ago I was in a similar situation and found my homeowners policy *would* cover liability, but it required a rider on the policy and an additional small premium. Eisboch |
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#5
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"Eisboch" wrote in message ... JAXAshby wrote: Hi, I'm planning on buying a very inexpensive ~26 foot sail boat. I know most marinas require some sort of insurance, right? How about transient anchorages, moorings, etc run by the county/state? The boat is so inexpensive that I wouldn't really care if it were a complete loss, so the only insurance I'd get would be that which is required. Is that liability insurance? Is there some sort of standard liability insurance or something else super cheap? Thanks! boats under 26 feet (actual) and 15 (?) hp usually are covered without additional fee under your homeowners/renters policy. if you home/rent and/or larger boat, many standard insurance companies (Allstate, for instance) will sell a liability only policy on boats. Most marine insurance agents don't want to even hear of libability only policies. Too little commission to be worth the effort. They tell such doesn't exist. I would add however, that you should not assume your homeowners insurance automatically covers your boat. Years ago I was in a similar situation and found my homeowners policy *would* cover liability, but it required a rider on the policy and an additional small premium. Eisboch I would also highly recommend tow inusrance :-) |
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#6
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In article , Gould 0738 wrote: Hi, I'm planning on buying a very inexpensive ~26 foot sail boat. I know most marinas require some sort of insurance, right? How about transient anchorages, moorings, etc run by the county/state? The boat is so inexpensive that I wouldn't really care if it were a complete loss, so the only insurance I'd get would be that which is required. Is that liability insurance? Is there some sort of standard liability insurance or something else super cheap? Thanks! If the boat is "super cheap" for certain reasons, you may not be able to get hull insurance on it in any event. It is certainly responsible, even where not legally required, to carry liability coverage. It might be tricky to find an underwriter who will issue a liability policy on a boat that might be otherwise uninsurable. One good option is to see about "umbrella" coverage through your regular general insurance carrier. You can buy a few million dollars worth of umbrella coverage for relatively little, (probably more than enough to cover your butt if you were moored next to a megayacht and a galley fire broke out and spread). The umbrella coverage also provides liability for most of the other activities you pursue, or if somebody slips on a wet sidewalk in front of your doorstep, etc. If you go the umbrella policy route, do make sure your agent knows that you have a sailboat and make sure that boating isn't a risk that's excluded somewhere in the fine print Nearly all umbrella policies require anywhere from $300-500k of underlying liability insurance on any of a set of "specific" risks - and watercraft are almost always one of those specific risks. An umbrella is an excellent investment as they are quite cheap. However, the underlying insurance requirement is an issue you pretty much can't get around. Umbrellas are meant as "excess liability" insurance, not replacements. -- -- Karl Denninger ) Internet Consultant & Kids Rights Activist http://www.denninger.net My home on the net - links to everything I do! http://scubaforum.org Your UNCENSORED place to talk about DIVING! http://www.spamcuda.net SPAM FREE mailboxes - FREE FOR A LIMITED TIME! http://genesis3.blogspot.com Musings Of A Sentient Mind |
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#7
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In article , P.Fritz wrote: Hi, I'm planning on buying a very inexpensive ~26 foot sail boat. I know most marinas require some sort of insurance, right? How about transient anchorages, moorings, etc run by the county/state? The boat is so inexpensive that I wouldn't really care if it were a complete loss, so the only insurance I'd get would be that which is required. Is that liability insurance? Is there some sort of standard liability insurance or something else super cheap? Thanks! I would also highly recommend tow inusrance :-) On a SAILboat? Why? What's wrong with the sail(s)? If the motor fails, use the wind! -- -- Karl Denninger ) Internet Consultant & Kids Rights Activist http://www.denninger.net My home on the net - links to everything I do! http://scubaforum.org Your UNCENSORED place to talk about DIVING! http://www.spamcuda.net SPAM FREE mailboxes - FREE FOR A LIMITED TIME! http://genesis3.blogspot.com Musings Of A Sentient Mind |
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#8
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"Karl Denninger" wrote in message news:Pi8dd.31592$bk1.3423@fed1read05... In article , P.Fritz wrote: Hi, I'm planning on buying a very inexpensive ~26 foot sail boat. I know most marinas require some sort of insurance, right? How about transient anchorages, moorings, etc run by the county/state? The boat is so inexpensive that I wouldn't really care if it were a complete loss, so the only insurance I'd get would be that which is required. Is that liability insurance? Is there some sort of standard liability insurance or something else super cheap? Thanks! I would also highly recommend tow inusrance :-) On a SAILboat? Why? What's wrong with the sail(s)? If the motor fails, use the wind! Running aground,, rigging failure, for two.....For the cost of the insurance, vs. the one time cost of towing.....it is well worth it. -- -- Karl Denninger ) Internet Consultant & Kids Rights Activist http://www.denninger.net My home on the net - links to everything I do! http://scubaforum.org Your UNCENSORED place to talk about DIVING! http://www.spamcuda.net SPAM FREE mailboxes - FREE FOR A LIMITED TIME! http://genesis3.blogspot.com Musings Of A Sentient Mind |
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#9
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#10
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Been there, done that. The "umbrella carrier" always requires you to
carry some minimum amount of liability on your house, cars, boats, etc. before they will issue the policy. Typically the minimums are in the range of 100 to 300K$. I have an umbrella liability policy that covers risks for which there is *no* underlying liability insurance available. I have had the same policy for over 20 years, (although the limits and premiums keep increasing), so things may be different in the current market. Suppose, for example, that I owned income producing real estate. At least in my state, many insurance companies will not write fire insurance on older rental dwellings. One that will write fire policies on 20-50 YO rentals does not offer inidividal liability insurance for houses or small multiplexes, but does offer an umbrella policy that covers not only property on which they write fire insurance but any other asset or activity as well. If I owned income producing real property in my state, had a policy like I just described, and had a 26-foot sailboat that was otherwise not insured my liability would be covered while sailing. Every situation is different, and the guy contemplating buying the "super cheap" sailboat should be sure he explores all the options. |
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