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Subject: TWL: insurance
From: Jim Slocomb (jslocomb@XXX.XXX)
Date: Sat Feb 01 2003 - 00:48:50 EST
<< Insurance, like most things in life, is a risk management decision. I
never carried it while I was in New England, opting instead to install a
2,200 lb hurricane mooring in Wakefield RI. >>
Similarly I have 4 anchors rigged and ready to use and LOTS of BIG bilge
pumps.
<<No liability insurance either? What if you pranged a goldplater and you
were
served with a $100,000 damage claim?>>
Being in the vicinity of gold-platers is not conducive to pleasant boating.
Running into one is not only inappropriate but a violation of colregs.
<<What if a non-swimming guest had a few
beers too many and fell over the side?>>
It's considered polite to yard them back on the boat.
<<What if you hit MY boat?>>
See answer re goldplaters.... it's inappropriate.
If one insures against all the what-if's in life they obviously need the
perceived security and have far more boat bucks than the boat needs.
I prefer to manage my risks rather than expect somebody else to bail me out
when I get stupid. Besides how many times have you actually witnessed an
insurance company paying a claim before the judge says they have to, and
thats after you spent the claim proceeds on the lawyers that got the judge
to tell the insurance company to actually pay up?
Jim Slocomb
M/V Sea Ottter
40' Skookum
San Juan Islands, WA
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