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From: Al Golden (no email)
Date: Wed Oct 01 2003 - 21:23:42 EDT
Arild:
As much as I respect your knowledge of marine electrical systems, I have to
tell you that your perspective on the insurance industry is radically
distorted!
While I certainly agree with your points about the lack of personal
responsibility in our society and, as anyone who's attended one of my
seminars can tell you, the tendency of that industry to prostitute itself
to that way of thinking, you must understand that our whole way of life is
wholly dependent on insurance. If you could not buy insurance, you could
not borrow money. Not for anything of significant value!
>>When I built my own boat I sailed with no hull insurance. If it sank,
>>tough luck! However I did have liability insurance in case a visitor
got
>>hurt or if I caused an accident. Today this is evidently no longer
>>possible - see a thread on this very subject about a month or so back.
And, as I told you then and tell you again, this is simply not true.
Liability coverage only is readily available here in the States. If it's
not available in Canada, that's a result of your ridiculous regulations,
not the insurance industry.
>>It used to be globe trotting cruisers like the Roths and Pardeys and
>>Hiscocks sailed with no insurance because they could not get coverage.
>>Today such behaviors is regarded akin to being criminal.
You're right to some degree, but that situation changed many years ago, and
changed for all time in June of this year. Now the more modern Evans
Starzingers and Beth Leonards are easily insured for wherever they can
sail.
>>Most of the marinas I know of will not rent a slip to someone who does
not
>>carry insurance on their boat.
The marinas require liability coverage to insure that someone is
financially responsible for damage caused to the marina or its guests, or
for removing the wreckage of a boat that sinks in its slip. They cannot
afford the cost of the divers, cranes and barges needed to remove a
derelict from their property.
>>....And people who attempt to restore old wooden boats are facing huge
>>impediments. Finding any company who will insure a wooden boat is a
>>challenge. Finding a Marina that is willing to allow a wooden boat into
>>the slips is difficult in some places.
Insuring wooden boats is NOT a problem, and never has been. I've no idea
where you got that idea, unless it's another of those Canadian things. As
long as there's a decent survey report available, it doesn't matter if the
boat is made of Ivory Soap!
>>So even if you do have insurance on a wooden classic you may still find
>>life difficult.
Arild, I have to tell you that in all my years as a boater, 22 years in the
marine insurance industry, and having an employee who's the Secretary of
the Classic Yacht Society, I've never heard of a marina that had an
absolute prohibition of wooden boats.
Al Golden
International Marine Insurance Services
1-800-541-4647
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