Leaving boat on anchor long term

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Benthic2 said:
Sure it can't cost that much to insure a boat that is on the hard ?? It can't sink, get stolen, leak fuel into the ocean, etc. I would think you would only need minimal insurance for 10 months, then just get the full coverage for the 2 months you are actually using it. Was the insurance company aware the boat would be high and dry for 10 months when they gave you the quote ?
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Actually, my new insurance company doesnt care if on the hard or in the water for hurricane season.....same price.

My last insurance company wouldn't insure me even though the boat would be on the hard about 30 miles inland from the coast, well above flood levels for hurricane season.

You figure it out.....I can't.
 
Actually, I said threads, so both your posts and Mark's are about the same.
 
psneeld said:
Actually, I said threads, so both your posts and Mark's are about the same.
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I see no relationship between my posts and Mark’s. I do see a strong similarity between your posts and GH41’s.

Both of you share a degree of arrogance. Get a life, stop trying to be a know it all
 
I dont know it all, just what I know.

And I know I read all his threads, and he paid $17500 and asked about liability only.

So who is looking uninformed here?

My life is assisting, not posting useless posts, except sometimes when I think others may find humor in the contradiction like this time.
 
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psneeld said:
I dont know it all, just what I know.

And I know I read all his threads, and he paid $17500 and asked about liability only.

So who is looking uninformed here?

My life is assisting, not posting useless posts, except sometimes when I think others may find humor in the contradiction like this time.
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OOHHhhhhhhh! Now I understand. You suggest one needs to read every post in a forum before replying to any. You mentioned the price he paid for his boat, why is that important and who cares other than a bank if he financed his purchase. If financed lenders will demand proper insurance coverage. That is the OP’s business.
 
The main point of the thread is that storage and insurance costs are too high..... If the boat is financed is very relevent to insurance costs if the finance company mandates more than minimum coverage.

Only my opinion, but if you post without reading the entire thread, how do you know if someone has already made the point that you are about to make ?
 
Benthic2 said:
The main point of the thread is that storage and insurance costs are too high..... If the boat is financed is very relevent to insurance costs if the finance company mandates more than minimum coverage.

Only my opinion, but if you post without reading the entire thread, how do you know if someone has already made the point that you are about to make ?
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Excellent point that. It often frustrates one to see posts that clearly indicate they haven't read at least most of the previous ones, and it's the commonest cause of threads going off-topic. :eek::nonono:
 
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I think the issue here is much less about long term anchoring, and more about being financially too close to the edge. If getting into the very least expensive storage yard, and getting the very least expensive insurance has created a financial burden of ownership, then I think to use your original words, you are indeed in over your head.
 
Whgoffrn said:
My delima is insurance the previous owner had liability which is what I budgeted in for ...they were paying only 350 per year ....geico / boat us says they were grand fathered into that policy and I would need full coverage at 2k per year...

At some stage I wondered if it was a seriously crazy idea to just get the full coverage insurance and a twice the size rated anchor....my current anchor is a 55lb mantus m2....I wondered if to skip some expenses I just get the 105lb mantus with mantus bridles and use a way oversized anchor kinda as a mooring .....put wifi on the boat ....solar and run cameras and board it up and tape windows as if to prepare for a hurricane ...... my expenses would just be the way over inflated insurance and bottom cleaning ......stupid idea?
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Are you saying Geico/BoatUS is telling you you need full coverage? What gives them a vote?

Is the boat financed? IOW, is the bank telling you you need full coverage? If not, keep shopping for liability only insurance. You been steered to Pau Hana here on the forum; have you contacted him? In any case, there are a boatload of insurance companies who write liability policies...

Yes, it's a "seriously crazy" idea. For all the reasons other folks have noted. Consider also what happens if it breaks loose and damages other boats. Even if you have liability insurance, you don't want to have to use it.

If the boat is too expensive to NOT use 10 months out of the year... sell it and charter.

-Chris
 
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Benthic2 said:
The main point of the thread is that storage and insurance costs are too high..... If the boat is financed is very relevent to insurance costs if the finance company mandates more than minimum coverage.

Only my opinion, but if you post without reading the entire thread, how do you know if someone has already made the point that you are about to make ?
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The OP received many excellent recommendations in this thread, read them all. Few people are endeared to a poster to read all of anybody’s many threads before posting.
 
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When giving advice, I always try and see the "big picture"....

As they say in the military, " intelligence on the situation is everything".

As Chris pointed out along my theme, liability and environmental is not impossible to get so keep checking and/or contact Pau Hana.
 
Whgoffrn,


I agree with the others. Anchoring makes NO sense. I wouldn't leave my boat anywhere without checking on it weekly (or having someone do that).



Sounds like renting or chartering makes a lot more sense.



Why don't you keep it in an area close to you and make an occasional run to FL?
 
This may be a crazy idea, but I think we are already thinking outside the box so, consider this:

You are short on funds, and you have an asset that is unused 10 months per year. What if you found someone in Florida with a private dock, and rented them your boat for 10 months at a discount to market value to cover the dockage that they provide. Have a leasing agreement drawn up that stipulates how repairs and maintenance are covered, like maybe you split them 50/50, since you still retain ownership.
 
IMO in most locations it it is highly likely that the boat would be vandalized and or used by homeless people.
 
My advice would be to find a boat yard that can store it on land. Shrink wrap it, insure it and visit it occasionally.



Commission it when you can use it again.



Or sell it and buy another when feasible.
 
Benthic2 said:
This may be a crazy idea, but I think we are already thinking outside the box so, consider this:

You are short on funds, and you have an asset that is unused 10 months per year. What if you found someone in Florida with a private dock, and rented them your boat for 10 months at a discount to market value to cover the dockage that they provide. Have a leasing agreement drawn up that stipulates how repairs and maintenance are covered, like maybe you split them 50/50, since you still retain ownership.
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Staying on this theme, which does make sense, but being someone now who having sold his boat, loves to have a paying renter on it, how about keeping the arrangement simpler, by advertising in the area in which you would like to have the boat, for someone who has a canal-side home, but no boat, and who would, (for a modest rental), allow you to park yours there, with no liability on them. Just a regular payment coming in. There are folk here in the Brisbane area where there are a lot of canal-side homes with pontoons, but no boat, who do that. I would expect the same over in the US. The berth owner, for a few beers now and then, might well agree to 'keep a friendly eye on it' even..?
 
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I own the boat outright no loan and have checked with boat us geico maritime another broker and pau and I believe everyone is saying the same thing that full coverage is required in florida for a boat as old as mine 1981 + length 36'9" ...pau is checking on rates to see if he can beat other quotes but I'm still expecting it to be high considering the full coverage requirement
 
17K purchase price and a deductible which might be 2 K leaving $15K of boat cover It suggests most premium is going not to cover the vessel value itself but more to the liability aspect. I hope you get a reasonable quote. I was paying about $1300 for $120K full cover on a 1981 boat, and Australia is not cheap for anything.
 
I would much prefer liability and self insure the loss to my own 17500 in... every marina or mooring field or dry dock storage requires insurance yet I'm told by everyone that liability insurance isnt possible on a 1981 over 36 feet long..tried progressive too they told me they cant insure a boat over 35'
 
Well Smitty I have lived and boated in NY, CA and FL and in all cases there were problems.
In NY theft by guys in small OBs was common. Even for boats docked at marinas. If nobody is paying attention there will be problems.
 
bayview said:
Well Smitty I have lived and boated in NY, CA and FL and in all cases there were problems.
In NY theft by guys in small OBs was common. Even for boats docked at marinas. If nobody is paying attention there will be problems.
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Very interesting ...
We have never owned a slip. We have always been on a mooring for 30+ years and have never had a boat broken into or shot at.
Also never had a boat damaged on a mooring but did have two accidents at marina's while we were visiting. Fortunately neither was really anything major.
We boat mostly in NY but have done some in NJ and in Florida as well.

Very interesting ...in your case all were problems and in our case none were problems.
 
Well, the O.P. certainly touched a nerve here. His idea of leaving the boat on a ball, or at anchor, or even on the hard for ten months a year makes NO sense. He shouldn't own a boat in those circumstances, especially given his budget issues.

Another point to consider is this: I tarp my boat in the fall meaning I need to untarp it in the Spring. I also winterize the plumbing, the engines and the A/C. This may not be strictly required in his location but stale water and fuel are problematic. I empty most unused food also. All spices and most staples will be garbage after ten months. (Ten month old crackers or cereal/ No thanks) My boat gets FILTHY under the tarp, both inside and out. So after ten months under a tarp, or just sitting on the hard or floating somewhere you can't just get on the boat and start vacation.

It takes me a few days in the fall putting the boat away. It takes at least a week in the Spring getting it ready again. Not to mention a few hundred dollars each time. And we have not even talked about batteries, brightwork and major or minor projects that are always on a list.

Summer (boating season) in Wisconsin is generally considered to be about four months. If it was any shorter I wouldn't consider having a boat, or a motorcycle, or a pool or any summer toys. It just doesn't work out.

pete
 
Perhaps you are in a very active mooring field with people around all the time. But Obs and dingy were stolen all over GSB years ago. My boat was broken into over winter storage at a Freeport marina.
OTOH I anchored all summer in a remote pond off Peconic bay and never had a problem.
IMO the more abandoned a boat looks the more likely there will be something happen. At the very least the gulls will make it a home, even in Northport.
 
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