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RE: Insurance of liveaboards

Al Golden

Wed, Nov 24, 2004 7:03 PM

Kevin:

|| 1- just what do current policies cover for Live-aboards
|| (and hey, what is the definition of a Live aboard?)

Current yacht only policies cover liveaboards in exactly the same way
that they cover anyone else. What's missing are Personal Liability,
Personal Property off of the boat, and Loss of Use. Those are the main
issues covered by the two actual liveaboard policies on the market.

|| - is someone doing the Loop and staying on the boat for
|| six months straight (while still paying the mortgage on the
|| house back home) considered a Live aboard just because of
|| passing some unwritten (or maybe written) number
|| of continuous
|| days on board?

No.

|| - does maintaining a separate house negate being a
|| Live Aboard?

Generally depends on whether you or someone else is living in it.

|| - I live mostly at home, but when not cruising, I
|| stay over on
|| the boat 1 to 3 nights a week. Does that change my status?

No.

|| 2- what is not covered if you are a Live aboard?

See 1. above.

|| 3- what notice is required to our carrier if we switch
|| from shore
|| dwelling to living on board?

Just a call to your agent, unless you want or need to change policies.

|| On the other hand, the Insurance carrier is writing a
|| contract to accept some risk in exchange for our yearly
|| premium. As such, they are entitled to know about the
|| risks involved - but we as the consumer can't be expected
|| to guess at what information is needed. What does the
|| insurance company need to know, and how should that need
|| be communicated and the information collected?

I guess that if the question "should I" crosses your mind the answer
should always be "yes". Seriously, you need to ask yourself "If I were
underwriting this boat... would I care that my teenage sons are going to
be allowed to take her for weekend cruises on their own?"

|| This thread is making the issue of insurance for live
|| aboards sound fairly complicated. It would be nice to be
|| able to reduce the fog level surrounding the subject.

Sorry I can't help.... ;-)

Kevin: || 1- just what do current policies cover for Live-aboards || (and hey, what is the definition of a Live aboard?) Current yacht only policies cover liveaboards in exactly the same way that they cover anyone else. What's missing are Personal Liability, Personal Property off of the boat, and Loss of Use. Those are the main issues covered by the two actual liveaboard policies on the market. || - is someone doing the Loop and staying on the boat for || six months straight (while still paying the mortgage on the || house back home) considered a Live aboard just because of || passing some unwritten (or maybe written) number || of continuous || days on board? No. || - does maintaining a separate house negate being a || Live Aboard? Generally depends on whether you or someone else is living in it. || - I live mostly at home, but when not cruising, I || stay over on || the boat 1 to 3 nights a week. Does that change my status? No. || 2- what is not covered if you are a Live aboard? See 1. above. || 3- what notice is required to our carrier if we switch || from shore || dwelling to living on board? Just a call to your agent, unless you want or need to change policies. || On the other hand, the Insurance carrier is writing a || contract to accept some risk in exchange for our yearly || premium. As such, they are entitled to know about the || risks involved - but we as the consumer can't be expected || to guess at what information is needed. What does the || insurance company need to know, and how should that need || be communicated and the information collected? I guess that if the question "should I" crosses your mind the answer should always be "yes". Seriously, you need to ask yourself "If I were underwriting this boat... would I care that my teenage sons are going to be allowed to take her for weekend cruises on their own?" || This thread is making the issue of insurance for live || aboards sound fairly complicated. It would be nice to be || able to reduce the fog level surrounding the subject. Sorry I can't help.... ;-)