Thread: Insurance
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Old 08-12-2009, 06:20 PM   #9
koliver's Avatar
City: Saltspring Island
Country: BC, canada
Vessel Name: Retreat
Vessel Model: C&L 44
Join Date: Nov 2007
Posts: 3,250
RE: Insurance

I don't mean to sound dumb, but who on this board, or anywhere that people have enough resources to put some of them into a decent boat, would ever fail to buy liability insurance. Most boaters place liability ahead of own loss. Most marinas, yacht clubs, etc. have rules that reject you for moorage without proof of liability insurance. I know mine does. They don't care if you have loss of property insurance, but when your electrical fire takes down the neighboring boats, its your liability insurance that will pay.
As for truth in disclosure, any lack will allow the voiding of your coverage. They will still pay for the liability, but they get to come back on you for reimbursement if they find a breach of that little term in the policy that requires disclosure of anything that might put up the premium.
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