Insurance Nazis

[Part-time]

I just read in another thread plus I just had someone give me the same bs the other day.
How I should have insurance and it should be law and I should have left the pro's do it...
So my boat sank at my dock because of a torn shift cable below... I re-floated the boat myself, dried it out and repaired it myself.
This guy that I don't know, and he doesn't know me, is paddling by in is kayak, stops to lecture me about "letting the pro's" take care of it and insurance and blah, blah blah.
No I DON'T have insurance.
I've refloated 3 boats so far this season (including my own).
I work at the local dealer and took over 150 boats out of winter storage and preped for the season and spend my days fixing more boats.

I guess the point I'm getting at is why do some people feel it is necessary to say anything when they don't have the facts and know very little or nothing of what is really going on.


rant over... thanks for listening.

 

[Fishing Dude too]

Re: Insurance Nazis

And if you damage another persons boat?

 

[soggy_feet]

Re: Insurance Nazis

Then you pay for it out of pocket. Easy enough answer.


I don't have insurance either. Can't get it. Nobody wants to insure a 40 year old piece of steel immersed in water.


I also do all my own work, and while I haven't had people tell me to let the "pro's" do the work, I have had a few people turn down offers to go out on the boat because I've done the work myself.


My suggestion to you, next time someone give their opinion about letting the pros do it, is just to tell them you are the pro. If they still give you crap, tell them to take a long walk down a short pier.

 

[TilliamWe]

Re: Insurance Nazis

You guys are misunderstanding a fundamental insurance term. The insurance you are rquired to have, in most states, is "Liability" insurance. That makes very good sense. It's a little hard to pay for 5 people's ER visits and intensive care stay and surguries, "out-of-pocket", as soggy suggests. Even hard to pay for that guy's $60k ski boat you just destroyed.

Now "physical damage" coverage, on your OWN property, that' s adifferent story. If you have LOTS of ability, like Part-time appears to, you might not need it. If your boat isn't worth much, then you may not want it. Basically, whatever you can afford to lose, then don't insure it.

However, don't start crying about how much money you lost when someone else hits your boat (that you don't think is worth insuring) and you have to wait for their insurance carrier to offer or pay your claim.

 

[lncoop]

Re: Insurance Nazis

You guys are misunderstanding a fundamental insurance term. The insurance you are rquired to have, in most states, is "Liability" insurance. That makes very good sense. It's a little hard to pay for 5 people's ER visits and intensive care stay and surguries, "out-of-pocket", as soggy suggests. Even hard to pay for that guy's $60k ski boat you just destroyed.

Now "physical damage" coverage, on your OWN property, that' s adifferent story. If you have LOTS of ability, like Part-time appears to, you might not need it. If your boat isn't worth much, then you may not want it. Basically, whatever you can afford to lose, then don't insure it.

However, don't start crying about how much money you lost when someone else hits your boat (that you don't think is worth insuring) and you have to wait for their insurance carrier to offer or pay your claim.

There's a thread going on right now about this over in Boat Topics and Questions. It's amazing how many boaters think liability insurance that costs the equivalent of two tanks of gas a year (or less depending on the tank) is too usurious a burden to bear because they'll probably never need it. To each his own I guess, but I hope for all our sakes our paths never collide on the water. Reminds me of the Simpsons episode when the Flanderses lost their house to a hurricane. They didn't have insurance because Ned believed it was a form of gambling.:facepalm:

 

[Fishing Dude too]

Re: Insurance Nazis

Then you pay for it out of pocket. Easy enough answer.

And the life or limb lost you just get one from a bone yard to replace theirs that was lost. As far as age of boat it can be insured for liability. I have floated a few boat that sunk at dock but if in open water it is salvage and cost a few $$ an goverment take kindly to letting it be a hazzard to navigation, or let it leak oil and gas for years.

 

[emoney]

Re: Insurance Nazis

Liability insurance is one thing, coverage to cover your boat sinking is something else entirely and I respect every person's view on that particular subject. As for people sharing their "negative opinions" I just assume that's an open invitation to share mine as well. In other words, the guy on the kayak should've been told about how he should really spend more time on his personal appearance or his family life or ?? Of course, giving back would've probably been rather offensive to him. Truth is, whenever someone gives me their unsolicited, negative advice I normally retort with the whole, "Opinions are like....." (you know the rest), except I tend to change the last sentence to, "And you seem to be one".

 

[jkust]

Re: Insurance Nazis

I'm not certain how things work in Canada, but here ignoring the part of the insurance that protects my boat, I don't want to lose my wealth, house and assets if I killed someone in the insuing lawsuit. I don't know again how things work up north but here my money was actually hard to accumulate and my kids futures are something I don't want to jeopardize. I suppose if I had nothing to my name, a lifetime judgement following me around may not mean as much. I knew someone in the very situation and he had zero to his name but the state withheld his license in addition to the judgement that followed him forever. Had he not married someone able to pay the judgement off, he'd have never gotten out from under it. The plus side is he became a very good biker.

 

[PiratePast40]

Re: Insurance Nazis

I recently spent a week in Canada with friends and it's a totally different world when it comes to medical liability. Here in the states, we're familiar with people losing their homes and wealth due to a family medical crisis. We're also responsible for the costs of medical care if we cause injury to someone. In Canada, the government takes care of your medical expenses so some of the insurance issues become a mute point. Not sure how Canada works in relation to environmental cleanup in the case of a fuel spill or damage to someone elses property caused by your boat.

That being said, I'm shocked at the number of people why will berate you for doing your own work whether it be your car, house, or boat.

 

[BonairII]

Re: Insurance Nazis

I knew someone in the very situation and he had zero to his name but the state withheld his license in addition to the judgement that followed him forever.

Sounds like there's a bit of the story missing. Why would his driver's license be permanently revoked? Was he on drugs/drunk or driving unbelievably recklessly?

Why didn't he file for bankruptcy if the hardship was that bad?

 

[jkust]

Re: Insurance Nazis

That being said, I'm shocked at the number of people why will berate you for doing your own work whether it be your car, house, or boat.

Sure the health care is socialised but what about the worst case scenario when you kill someone or injur them with liability beyond just medical? I'm thinking the surviving family members don't just turn the other cheek.
Also do you mean that in Canada you are shocked at the number of people who will berate you...? In the US, we're all about DIY.

 

[jkust]

Re: Insurance Nazis

Sounds like there's a bit of the story missing. Why would his driver's license be permanently revoked? Was he on drugs/drunk or driving unbelievably recklessly?

Why didn't he file for bankruptcy if the hardship was that bad?

Sorry was posting when you posted. He hit a whole family and the license was revoked by the state until the judgement was paid off. Luckily it was only property damage but he had zero insurance. I don't know about bankruptcy and what he did or didn't do with regard to it and how the laws applied. He went over 10 years without a license if you can believe that.

 

[Thalasso]

Re: Insurance Nazis

Sorry was posting when you posted. He hit a whole family and the license was revoked by the state until the judgement was paid off. Luckily it was only property damage but he had zero insurance. I don't know about bankruptcy and what he did or didn't do with regard to it and how the laws applied. He went over 10 years without a license if you can believe that.

Are we talking about a boating accident or auto. I can see the drivers license thing if it were an auto, but boat??? You don't need a state drivers license to operate a boat. Op's question was about boats.

 

[Bigprairie1]

Re: Insurance Nazis

Yeah from the Canadian side of things....not having insurance is as irresponsible here as it in the U.S....or I suppose anywhere else for that matter.
Canadians are generally quite a bit less litigious than in the U.S so you don't get quite as many seemingly silly lawsuits bouncing around for any reason so there is a little less paranoia about it coming back to you.
However, if you hit someone with your uninsured boat, car, truck, whatever....you put yourself (and your families financial future) in serious harm's way.....all for a few bucks? probably less than a few flats of beer to be quite honest.
One thing that is different in Canada is that 'tags' or license plates do not stay on the motor vehicle when it is sold...they generally stay with the first owner to 'turn in'. So if you randomnly buy a car and drive off you will be quite conspicous unless you happened to have another set of plates lying around to put on it. As well, to get current/dated tags or plates you have to have proof of insurance...they are not independent entities.
As for the original thread....if you can fix your boat yourself...fine but as TilliamWe stated...insurance is a good idea and it more for liability purposes and it is a very good idea for the very minor amount it costs.
My two bits.
BP