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From: who cares (no email)
Date: Fri Apr 08 2005 - 09:41:22 EDT
After ten years without even one claim my insurance told me, they do
not insure yachts any more. Inquiring for another one I was shocked by
a price hike of 400%. They charge now 8.3% of the value of the yacht,
40% discount for my clean record, Red Sea and Gulf of Aden excluded
from any insurance. But this leaves me with an actual payment of 3% of
the value of my boat, every claim I will loose 25% of my discount.
This fee does not include anything else than damage to the boat and
cleaning up the mess if needed, no paying guest on board, no payed
crew on board, no charter anyway and third party liability, passenger
personal accident insurance, legal cost insurance, any personal health
insurance NOT included too.
I can not imagine that so many yachts are lost or damaged every year.
Was my old insurance so cheap? How about other countries? Same
experience anyone anywhere? After 15 years I payed a second yacht,
maybe I save the money and take the risk.
Peter
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