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lv-ab: Self insuring or not! ( was insurance, singlehanding)

From: A Jensen (no email)
Date: Wed Aug 25 2004 - 17:00:42 EDT

  • Next message: Bob: "RE: lv-ab: maptech charts"

    Seems to me the thread has wandered prety far from the original issue of
    whether or not singl ehanding a vessel should be exempt or voided by the
    insurance company.

    However taking the issue of self insurance into a morality issue is geting
    a littel far feched.

    I once worked for a private marina that self insured al their inventory.
    In any given year they usually sold a couple of hundred boats in the 30 -
    50 foot size.
    The cost of insursance is based on a % of appraised value of the boat being
    insured.

    The company choose to self insure for a simple reason.
    If a boat was damaged, the insurance company would still be coming to them
    to make the repairs.
    After all they were the only dealer for hundred of miles around and they
    were the biggest yard with complete facilities for all types of repairs.
    In all the years they had been in business, they had never had a serious
    incident.
    The service people like me who had to drive their boats as part of the job
    had to demonstrate the necessary skill and responsibility in order to be
    trusted with a half million dollar boat.
    The cost of special boat insurance would simply have been an additional and
    unnecessary expense.

    Now how is that being morally bankrupt?
    Arild 

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  • Next message: Bob: "RE: lv-ab: maptech charts"



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