Who does not have boat insurance

[troy]

I have a 3.95 Avalon tinney that is based at my beach place.
It is never towed on the road and the only time it is used is when we go to our beach place.
The value of the boat and motor is around $5000.00
Would all members take out insurance
Troy

[fieldy]

i would

just in case

[ronnieandbill]

silly if you don't. Even if it is at a beach place it won't stop someone from knocking it off if they want to.
Ronnie

[blaze]

good subject troy
My 20 footer is insured thank heavens after my mishap last year
my tinnie is not insured, in saying that I may just see what extra costs are involved to insure that also.The reason for me to look into that are not that I have concerns about it being pinched but the public liabitity side of the insurance makes it nearly a nescesity to check it out.
cheers
blaze

[wayne_cook]

carn't see the point unless the boat value is around 15000

do understand the bit about liability though just gotta be careful i guess

[troy]

Blaze I never considered the public liability issue.
But apart from that i was thinking more on the issue of where do you draw the line with insurance.
Different issue as stated if the boat was $1500.00.
Troy
ps On the subject of public liability there is something that has always worried me is old tractors on the beach and none are registered including my own.
Cost heeps to register and insure but if you hit someone then you are in big trouble.

[MyEscape]

Troy,

From a financial planning perspective insurance is needed in the case where should you sustain a loss of the item the replacement of the item (boat) is going to have financial hardship on you.

i.e if you had a million dollars in the bank, and you boat is worth $500.00, then if you susain a loss of the boat, to repace it is not going to affect your financial wellbeing.

Of course, third party insurance (insuring the other guy) or public liability insurance is another story.

So, in your case, if you turn up at your beach house, and someone has stolen your boat, can you replace it without any (any at all) financial concern.

This goes for anyone actually, the reason everyone insures their house, boat, car etc, is that to replace the item, without insurance, is going to place financial hardship upon them.

Steve
PS, I have everything insured at my place!

[capt]

Is there any public liabilty included in boat rego , like in our car rego ? JIMMY

[wayne_cook]

good point capt

[marlinqld]

I wouldnt put mine down a ramp without insurance,

At least 3rd party to cover the other boat should you hit one.

"charter boat?? Wjat charter boat????" ;) :) ;D ;) :P

[marlinqld]

I wouldnt put mine down a ramp without insurance,

At least 3rd party to cover the other boat should you hit one.

"charter boat?? What charter boat????" ;) :) ;D ;) :P

[23-sharkcat]

You should allways insure your boat or car. What if you hit something. $1500 boat t-bones a $15000 boat and it sinks. Mate they will sue you for the damages.

[insideout]

another thing to think about is that sometimes people hurt themselves on your boat and sometimes thay may do some serious injury. insurance covers their livelyhood, and not only your hip pocket , but in a lot of cases , your a$$. when you talk about replacing boats , you talk thousands..., when you talk about compensating humans .....millions.... only a fool would have no insurance...

my thoughts , insideout

[Homer_Jay]

I think the biggest reason now days to insure is the public liability. In this day and age people will sue for anything as we follow in the steps of the U.S. No matter how careful you are what happens if someone slips and falls in your boat and sues you. Or worse still if you have a boating accident and one of your mates dies?? What do you think his missus is going to do? She will blame you and if they can prove negligence then you could loose alot more than your boat, the house car and everything you own could be gone in in instant.
As far as third party cover from your rego goes, the trailer and boat is covered by your car CTP insurance while on the road as for the damage it causes to personal injuy. But once you are on the water then there is nothing. Its up to you.
Personaly I wouldnt go out if i wasnt atleast covered for the damage that i could do. Even if i wasnt covered for loss to my own property.

Unfortunatly common sense was lost a long time ago. Its about time people took responsibility for their own stupidity and mistakes and stopped suing everyone else.

My 2 cents.......

Aaron

[Scott_Thunder]

for $150 a yr for my boat why would you not even entertain the thought. I'm covered for on road, water on the bank, everything in it down to my mobile phone and liability have good think about what ya playing with here, people's lives too!

[Scott_Thunder]

ask yourself the question how much to replace the boat, motor, and everything you carry including mates and kids.
Mines a 3.95 tinnie valued @$13,000 but boat aside i cant pay for some one's life cheers Thunder

[Scott_Thunder]

ask yourself the question how much to replace the boat, motor, and everything you carry including mates and kids.
Mines a 3.95 tinnie valued @$13,000 but boat aside i cant pay for some one's life cheers Thunder

[troy]

Scott,
Your making quite a few posts here ;)
This has nothing to with taking peoples lives as it would be no different if the boat was insured and the suing issue.
For my tinny and it never goes near a boat ramp or a public road as it is at a place accesible only by sea and the the only one i take in it is my wife.
I am sick of the amount of money i spend on insurances and although i know it is a necessary evil .
But if i can cut it down i will .
Just being honest mate and if the tinny was being towed on the road i would not hesitate to insure it and i am considering this.
Troy

[hussy]

scott where do you get insurance for a 13.000 boat for $150.00 . i have been quoted more than twice that for less than 13. thanks .

hubby

[bidkev]

Scott,
Your making quite a few posts here ;)
This has nothing to with taking peoples lives as it would be no different if the boat was insured and the suing issue.
For my tinny and it never goes near a boat ramp or a public road as it is at a place accesible only by sea and the the only one i take in it is my wife.
I am sick of the amount of money i spend on insurances and although i know it is a necessary evil .
But if i can cut it down i will .
Just being honest mate and if the tinny was being towed on the road i would not hesitate to insure it and i am considering this.
Troy

Troy, it doesn't really matter that your wife is the only one in it. You could hit another boat whilst out there or they could hit you and prove you negligent via insufficient lighting or some other reason. Third party really is the main issue. As has been said, replacing your rig may not be beyond your means, but replacing someone else's may be. Loss of life or limb to others is my primary concern regarding insurance as the sum of compo involved if it does come down to that, is usually beyond most people's pocket but is a drop in the ocean to insurance companies.

kev

[Dodgy_Back]

For 2 - 3 or even $400 a year , it's not gonna break the bank , just insure the bloody thing and have peace of mind in all situations.

Road or sea or even pinched from your front yard it's all covered.

$300 a year plus the excess for a claim is still cheaper than a few grand for a replacement

Insurance is a very important part of life and being prepared for the unlikely event that you may need it.

As someone else has said "only a fool would not have insurance "

Trust me on this one ,as without insurance we would be broke by now.

Mick

If I got of the track a bit, sorry

[marlinqld]

Each to his own and i respect everyones decision re: insurance.

And if i offend anyone by saying this i apologise.....

but if you go to sea uninsured you need your are fooilsh.

[shandos]

There is probably a case for having to pay 3rd party insurance when you register your boat -- like you do with your car. If you maim or kill someone with your boat and you are deemed at fault you could lose your house.

Paul

[troy]

I can understand everyones opinion that has been posted and i never thought of the public liability issue.
But i am only talking about a tinny here with a old 25 hp merc and no trailer.
The thought of me ever hitting anyone where i use it would have to be a freakish situation.
As far as my big boat is concerned i have no hesitation in paying insurance along with everything else i own.
I would say at least 75% of people who have tinnies at this beach place are not insured.
Apart from the liability issue the tinny is probably only worth $3000.00 not $5000.00 as i was thinking of buying a new motor and this is the reason for this thread.
I respect peoples opinion apart from being called a fool :o ;)
Troy

[gropeher]

But i am only talking about a tinny here with a old 25 hp merc and no trailer.
The thought of me ever hitting anyone where i use it would have to be a freakish situation.


"But the thought of there ever being a fire here and us losing evreything, is nothing but freakish"

Sorry Troy, get my drift mate, it always comes just a little too late, I see your point, BUT it is always the unexpexted, thats what insurance stands for mate "peace of mind"

Cheers Ryan..

[S_Bend]

Troy, I can see everyone who has written before me has your best interests at heart. Thankfully, I have never had the need for any insurance on my boat but I count myself lucky. I don't consider any of the insurance I have paid "lost" money (I even once had a 12' tinnie with a 25 Merc on the back - mine was lucky to be worth a couple of grand on a good day) and had no problems paying insurance on it - primarily for the third party issue.

If I read your post correctly, I think you are commenting on the fact that the chances of you losing/damaging your rig are extremely minimal and given your circumstances, I tend to agree. Where most of the others (myself included) will come from is this third party concern. There are an infinite amount of possibilities where people can be sued these days and putting it into boating terms doesn't lessen the chances. I work in an industry where insurance plays an integral part and my recommendation is for everyone to have some form of public liability insurance. Whilst I am not qualified to advise, I'm sure most of us would have heard the story of the golfer that was hit by another's golf ball and was severely injured. As the person who hit the golf ball was not a member of the course, he was sued successfully by the injured party and pretty much lost everything - I believe that if he had even had contents insurance for his home furnishings, he would have been covered (public liability insurance).

Now I am by no means an expert but it would even be worth a call to an insurance broker to discuss. That way your only commitment at this time would be a phone call and your time.

Personally, I say insure - even if you never use your boat. I understand the dollars thing but IF something were to ever happen, that minimal outlay could be the one thing that stands between you and complete financial ruin.

I hope I do not come off being negative towards your comments. I, like everyone before, am just trying to help.

Good luck whichever decision you make.

[troy]

I argree and understand what moat of you are saying.
But lets forget about the tinny and rememer i mentioned old tractors and home made trailers which i along with hundreds of people have.
Is it not the same as they are not registered or insured and would not even pass a road worthy.
Now i worry more about these then i do the tinny issue as tractors in the wrong hands are deadly.
So what do you do in this case .
I suppose this is the price you pay for isolation but the thought of having to register and insure these well i do not even know how you would go about it.
Thanks
Troy

[blaze]

Mornin Troy
In tassie the guys with off road vehicles, like tractors to put in the boat, 4 wheel motors etc that live in isolated areas use RV rego which intitles the user to use the vehicle on a set route only with the bonus of 3rd party insurance. Dont know about other states but the asumption is that they would have a simular thing.
cheers
blaze

[troy]

How you going Blaze,
Thanks for that and i will check it out.
What the weather like in Tassie around Xmas as i might take the cook for a holiday over there.
Troy

[jonah]

Insurance is a must, for all the reasons stated above.

I have my rig insured for $15,000 (includes everything) plus Public Liability $10m for an all up monthly premium of $20.00.
Cover is ashore, in transit, and afloat within Australian Coastal & Inland waters.

Your bait costs a hell of a lot more?

I have contacts if anyone needs a quote

Mick

[ynotaj]

Hi Mick,

thats a good price I phoned around and the best I could do was about $350 for $13000 cover. I would like to get some more info from you on who you are using.

cheers
tony

[PinHead]

just make sure you do not run into a million dollar boat then troy...without insurance I would not like to be in your shoes

[jonah]

Hi Tony, (ynotaj)

Email me direct at

brandts@aapt.net.au

I can help you from there.

Cheers......Mick

[troy]

Pinhead your safe mate i am to far away to hit your boat #:D
Curious is third party in your rego as my tinny is registered.
Troy

[shandos]

Pinhead your safe mate i am to far away to hit your boat :D
Curious is third party in your rego as my tinny is registered.
Troy


No -- not with boat rego -- maybe it should be but I guess then they would charge an arm and leg for it.

paul

[Murks]

simple answer..of course...you must have insurance
do you insure your house? your contents ? your car?
Public liability could cost you thousands.
My opinion it should be mandatory

[PinHead]

troy..my boat is a long way short of a million...I have my tinny insured..would not take the risk with any car or boat without insurance.

[troy]

Pinhead.
Only having a joke with you about your boat and i too have everything i own insured apart from my tinny at the moment.
As far as this thread goes it was my own personal opinion about where do you draw the line with insurance.
When it comes to make a claim insurance companies will try to rip you off if they can.
I will give people an example i noticed swelling in our tiolet wall which is adjacent to the bathroom.
Rang the insurance company and was told if it was coming from a leaking tap i would be covered but if it was coming from the tiles not covered.
Told me to rip up the bathroom floor but i would have to pay the costs of this and depending on what the problem was they would then decide whether to pay.
I know this is not the issue in this thread but i do not trust them at all.
Also i was in my own business for 8 years and my shop got wiped out by a cyclone and i was out for 3 months and when i originally took out insurance i was told i would be covered for $1000.00 per week for loss of income.
When the time came in small fine print they worked it out on what were ny busiest months and quiet months and i ended up with $100.00 per week and i nearly went broke.
So Insurance can also work the opposite.
Troy

[capt]

Homer - Jay spot on Aaron ! The legal fraternary has alot to answer for .........Jimmy

[Ron173]

Gotta say its a MUST even if you have the smallest tinnie.

Imagine the worst possible horrible scenario, you accidentally run over a swimmer in the water, which you never saw for whatever reason! doesnt bear thinking about.

I know we should see someone in water but, just an example.

My daughter skies behind my boat but I still have water skiers insurance as an extra, in event of serious accident, she would sue me, which would provide money to care for her if disabled, god forbid, but I'm sure you get my drift.

Ron

[ahoj]

Scott : who is your insurer?

Ahoj

[tunaman]

You know that ad " charter boat" what charter boat! RACQ I think it was
98 bucks for a year? is that good enough. and what does it cover?






signed tunaman

[Jeremy]

one other thing to consider Troy, what if you or your wife got seriously injured while out on your tinny? Have to check the policy, but I am pretty sure you would be covered for medical expenses amd maybe for loss of income if you couldn't work. Just another scenario to consider.

Jeremy

[troy]

Jeremy,
As i have already said about loss of income there is some very grey areas on this.
Trust me as i been there and as i said before i nearly went under and when i challenge the accessor on this his exact words and i quote [ What is in it for me if i can get more for you]
Troy

[timddo]

bummer, i've just purchased a boat and dont' have insurance. i don't do silly things and aways travel slow. i mite just get insurance for my boat only. Whats the chances of you hitting a charter boat???????.

[troy]

bummer, #i've just purchased a boat and dont' have insurance. #i don't do silly things and aways travel slow. i mite just get insurance for my boat only. Whats the chances of you hitting a charter boat???????.


What is the chances of hitting a spear fisherman.
I would have said remote until a few weeks ago when i was around the front of the cape and i decided to pull up as my lad wanted to throw a lure.
While he was doing this i decided to dive in for a swim and when i surfaced i saw this black thing come out of the water and did i Sh. t as i though i was shark meat but it turned to be some idiot spearfishing out in the middle of no where no flags or bouys.
Now i could have hit this bloke so who would be in the wrong as far as insurance and public liability goes.
Troy

[mcgilld]

Pinhead.
Only having a joke with you about your boat and i too have everything i own insured apart from my tinny at the moment.
As far as this thread goes it was my own personal opinion about where do you draw the line with insurance.
When it comes to make a claim insurance companies will try to rip you off if they can.
I will give people an example i noticed swelling in our tiolet wall which is adjacent to the bathroom.
Rang the insurance company and was told if it was coming from a leaking tap i would be covered but if it was coming from the tiles not covered.
Told me to rip up the bathroom floor but i would have to pay the costs of this and depending on what the problem was they would then decide whether to pay.
I know this is not the issue in this thread but i do not trust them at all.
Also i was in my own business for 8 years and my shop got wiped out by a cyclone and i was out for 3 months and when i originally took out insurance i was told i would be covered for $1000.00 per week for loss of income.
When the time came in small fine print they worked it out on what were ny busiest months and quiet months and i ended up with $100.00 per week and i nearly went broke.
So Insurance can also work the opposite.
Troy

It's a true but sad state of affairs when you're the customer until you need to make a claim, and then you become the enemy! - but unfortunately insurance is a necessary evil.

As an aside - I read somewhere that Aust is not following the US with litigation - we're actually setting the pace with a higher rate!
Cheers
Dave

[Bowser]

I have to comment on the regular statements in this thread that insurance is a neccessary evil. It certainly is evil but is it neccessary?

Insurance is issued by Companies and as we all know companies are only interested in providing a profit for it's shareholders. An insurance company will accept any proposal with only the barest assessment of the details, except to ensure that they extract the highest possible premium from you. Once they have done this they accept your premiums ad infinitum and whistle all the way to the bank. But lo, you lodge a claim for some silly accident after years of payment. The first thing that this company will do is pull the proposal and thouroughly scrutinize it, they will check for truth and correct completion of all sections. If they happen to find an error then they will renege on their coverage. If this avenue fails and you have answered all questions honestly and have paid all premiums on time they will then make every effort within the terms and conditions of the policy to minimise their outlay so as to minimise their loss. They have no thought or consideration for you the policy holders loss or feelings of loss.

Do not think that you must insure everything. Weigh up the possible costs to yourself and assess whether the risk of loss is worth taking. Several people have raised the possibility of third party loss or injury and you must allow for the possibility of these in your assessment. Remember if you should accidently kill or severly incapacitate your partner it will be up to their estate or trustee to decide if they should sue you and you will probably have no input into this decision. It could cost you a bundle should this happen. As much as I hate insurance companies whom I believe are bloodsuckers it is worthwhile considering third party only insurance for a cheap boat to cover the possibility of injury to an innocent party and save yourself a large amount of the premium each year that most probably would be wasted. The difference can be saved or considered saved in a sinking fund to go towards replacement should the boat be stolen. Remember insurance companies do make huge profits and this comes from all those people who blindly insure just in case and never make a claim. Is the risk of loss large or small? Should you take the punt? How many small boats get lost stolen or damaged in your area?

[troy]

Bowser,
You summed this thread up to perfection.
Troy

[PinHead]

Bowser..insurance companies would go broke just from the premiums paid to them...they then invest this money to get the best return they can. That is why they own large tracts of commercial properties etc..as for 3rd party insurance, what if you lose control of your boat and slam into another boat..you are liable..but you have no insurance..then what ???? Or are you impying that you should have 3rd Party Property insurance as well as 3rd Party. As for myself..I have everything insured..house, contents, cars, boats, tools, public liability..my way of thinking is./.if the proverbial hits the fan then I do not have to stress too much over it...it is all covered...suits me fine. As for the idea of a "sinking fucn"..a good idea but the average Joe has a poor reputation for saving..sees something he wants then takes the money out of that fund..then if it is needed it is not there.

[Bowser]

PinHead,

How many real people, not headlines do you know who have lost their boat or house? If you really compare the numbers you would find the basis of General insurance companies as opposed to your life companies who run endowment or super type funds which must return the prmiums to the client. In nearly 50 years I personally know one person whose house was burnt down and that occurred in my home town in the west when I was about 10. I have never met a person who's boat has been sunk or ran into another vessel. And if you go to car insurance, sure there are claims, but compare that to the number of trips made and the odds are substantially in the favour of the "only in it to help the poor, downtrodden and heavy laden" insurance companies. If you are going to criticise, get your facts right. I appologise for any typos in this and previous posts. As to implications, I am not implying anything. What I am saying is that sometimes you should make a real assessment of the risk and maybe you will find that it is better to take the leeser option. As to the comment about third party property and third party, I really don't get your intention, but if you have a look at the available third party insurance policies for boats in Australia you will note that these cover both third party property damage and personal injury. Maybe you should read your policies and the options before you make these companies richer.

Some times it is worth taking the risk to make the saving of the premium. General insurance companies are not benevolant societies. Sure Maybe you shul wake up and smell the roses some day.

[mcgilld]

Bowser.
Are your house and boat etc insured, or are you taking your own advice?

By the way - there were hundreds of uninsured properties wrecked in the recent cyclone in Nth QLD.

[eimeo]

i have just recently brought a boat and the first thing i did was insure it BEFORE i towed it home fom Bundy to Mackay.It was under $10000 but i always figured if you cant afford to replace it insure it.

i sleep better knowing i can get another one if it all goes wrong


dave