Waggoner Guide article on vessel insurance...

[Pau Hana]

This will also be published in the 2021 Waggoner Guide- I hope y'all like it!

https://waggonerguide.com/boat-insurance-what-is-covered/

For the uninitiated- the Waggoner Guide is the cruising bible for the Pacific Northwest. Mark Bunzel, the owner and editor, cruises the PNW from Olympia to SE Alaska every year and puts out a guide that has not only location data, but comprehensive info on anchorages, navigation, port contacts, local knowledge (food, drink, best tourist sites), and more.

 

[Jon H]

Does the OPA 90 Liability Limit increase over time or is $997,100 a
fixed limit for pleasure craft?

Jon

 

[Pau Hana]

Does the OPA 90 Liability Limit increase over time or is $997,100 a
fixed limit for pleasure craft?

Jon

The OPA 1990 (Oil Pollution Act of 1990) is reviewed and adjusted periodically (not to exceed 3 years); the adjustment is based on the Consumer Price Index.

 

[Alaskan Sea-Duction]

This will also be published in the 2021 Waggoner Guide- I hope y'all like it!

https://waggonerguide.com/boat-insurance-what-is-covered/

For the uninitiated- the Waggoner Guide is the cruising bible for the Pacific Northwest. Mark Bunzel, the owner and editor, cruises the PNW from Olympia to SE Alaska every year and puts out a guide that has not only location data, but comprehensive info on anchorages, navigation, port contacts, local knowledge (food, drink, best tourist sites), and more.

We have a star among us!!! Good article Pete

 

[Alaskan Sea-Duction]

Let's discuss electronics.

If you were to go in and replace all my electronics due to thrift, water intrusion etc. the bill would be around say $20K (a little low I think). My electronics consist of 2 MFD, lap tops, 2 vhf radios, auto pilot ext.

What are the differences in coverage by the carriers?

What items are covered and what is not?

Can I expect all new electronics?

 

[Pau Hana]

Let's discuss electronics.

If you were to go in and replace all my electronics due to thrift, water intrusion etc. the bill would be around say $20K (a little low I think). My electronics consist of 2 MFD, lap tops, 2 vhf radios, auto pilot ext.

What are the differences in coverage by the carriers?

What items are covered and what is not?

Can I expect all new electronics?

Hi, Tom,

Apologies for the late answer on this one...

The broad answer is this: The specific carrier's policy wording will determine how electronics are covered, and under what deductible.

"Electronics" are generally described as any permanently installed gear used primarily for the safe navigation of the ship- this covers purpose built MFDs, PC/Mac based systems, radomes/arrays, cameras, and more. Depending on the insuring company, electronics may be subject to a separate deductible, or subject to the hull deductible.

The loss must be obvious- that is, theft must show evidence of physical break in/damage of some sort. This is critical, as there is an exclusion in policies called "mysterious disappearance" that denies coverage for items that are gone from the vessel, but their disappearance cannot be properly evidenced and documented.

Depending on the policy, water intrusion into electronics may or may not be covered.

The other general tenet is that coverage is under a "like for new' condition- that is, the replacement gear will be like the items lost- but no insurer will hit the flea markets or online sites to look for used gear. Hence, the replacement gear will be (generally) the latest model of that which was lost.