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Re: Buying down bareboat deductible?
[Re: MileHighSkip]
#125386
03/26/2017 10:08 PM
03/26/2017 10:08 PM
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Joined: Sep 2010
Posts: 5,720 Massachusetts
maytrix
Traveler
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Traveler
Joined: Sep 2010
Posts: 5,720
Massachusetts
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I think the simple question is how confident are you in your ability as a captain. And is it worth it to have the peace of mind knowing you'd at most be out $2500 if there was an issue?
For us as owners we were going 3 times a year so the added insurance costs added up and multiple trips with no issues would easily have covered a single trip with an issue. And we had over a dozen trips and never had an issue.
End of the day, only you can answer your #1 question.
Matt
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Re: Buying down bareboat deductible?
[Re: warren460]
#125389
03/27/2017 10:03 AM
03/27/2017 10:03 AM
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Joined: May 2014
Posts: 109 Bozeman / Minneapolis
snowdog
Traveler
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Traveler
Joined: May 2014
Posts: 109
Bozeman / Minneapolis
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Keep in mind, that you also have to consider the impact of paying $6000 if there was a problem. For some people, this could be real hardship.
s/v Snow Dog - Leopard 46
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Re: Buying down bareboat deductible?
[Re: StormJib]
#125393
03/27/2017 11:21 PM
03/27/2017 11:21 PM
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Joined: Jul 2004
Posts: 414 Memphis, TN
beerMe
Traveler
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Traveler
Joined: Jul 2004
Posts: 414
Memphis, TN
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Putting down a refundable 6k is a great deal when you consider the value of the boat. Paying 500 to save 4500 in the unlikely event is as stormjib says a profit center. Used properly, the only purpose of insurance is to protect you from catastrophic losses. If $4500 is catastrophic to you you can't afford to be taking sailing vacations in the Carib.
Life involves risks, take some prudent ones (NOT with the BVI ferries)!
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Re: Buying down bareboat deductible?
[Re: MileHighSkip]
#125395
03/30/2017 01:38 PM
03/30/2017 01:38 PM
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Joined: Mar 2012
Posts: 819 Redmond, WA
MrEZgoin
Traveler
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Traveler
Joined: Mar 2012
Posts: 819
Redmond, WA
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We've never paid the supplemental insurance, partly because it really adds up on the longer charters we typically do. If the supplemental isn't optional I would consider it dishonest pricing.
M4000 "Lio Kai"
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