I would appreciate some feedback from any full time liveaboards concerning their insurance on personal effects etc....is there some equivalent to a homeowners type policy? Obviously the regular $10,000 or so on personal effects which is on most boat policies would be insufficient if one had one's home afloat - or at least for several months of the year. What is the best approach to this issue? Ron Barr Lady Brookhaven LRC

> I would appreciate some feedback from any full time liveaboards concerning > their insurance on personal effects etc....is there some equivalent to a > homeowners type policy? Obviously the regular $10,000 or so on personal > effects which is on most boat policies would be insufficient if one had one's > home afloat - or at least for several months of the year. What is the best > approach to this issue? Having lived aboard 9+ yrs. now and cruised extensively, I'd say that many, if not most live-aboards would be hard pressed to come up with $10,000 of personal effects other than maybe computer equipment which usually takes a separate rider to any policy. (It might actually be beneficial to dump all our accumulated junk and start over with $10 grand!) The real value of your stuff is in the emotional attachment and the hassle of replacing it - neither of which insurance can cover. We don't carry any add'l personal effects coverage although I think BOAT/US offers higher limits if you can document the value of your "stuff" aboard. I guess if you've got lots of high dollar fishing gear, dive equipment, compressor, expensive crystal and china, clothing other than shorts & t-shirts, expensive musical instruments, rare books and coins, artwork, etc., etc., then add'l insurance might be necessary! :>) You might be able to buy a "renters" policy that only covers personal property, much like what people who live in apartments or rental houses have, as opposed to homeowners insurance, but it may be a little hard to find an insurance company who would accept what they might think is add'l risk for insuring your "stuff" on the water as opposed to in the 'hood! :-) A big part of the live-aboard mentality/lifestyle involves taking/accepting responsibility for your own destiny. Once you assume the risk for your life and the lives of your loved ones several hundred miles from shore in a small boat that you navigate yourself, maintain yourself, etc., the risk of losing your "stuff" seems not as important as when wrapped in the cocoon of security most people in the US have become accustomed to enjoying. We feel like insurance is only for claims that would really hurt financially or that we otherwise couldn't afford to pay ourselves, like total loss of the boat or a big liability claim. We could "afford" to replace all our "stuff"... it would be painful for sure but it wouldn't put us in the poor house, at least not for long! The same goes for healthcare, we carry a high deductable, willing to self-insure for the routine medical stuff while paying someone else to take the financial risk against catastrophic illness. But we realize everybody's tolerance for risk is different, hence the wide range of insurance products available. Ray B.

Lots of good points Ray. In fact the first time I lived aboard and sailed both sides of the Atlantic I never had any insurance - couldn't afford it. I even ran adventure trips in Central America and Newfoundland with detailed waivers -- but without Liability simply because of cash flow. The best news I had was when a proposed insurance company I had approached called me back at the boatyard and said they couldn't find any credit info on me! "that's the best news I've had for ages " I replied...and sailed off. I don't think that would happen today in the age of FBI CIA and Big Brother Homeland Security. After sailing for years I came back opened a bookstore and started to accumulate again --- a major house fire 5 years later cleaned me out again --- a hint from on high! Security is an illusion. Insurance, if you can afford it, just takes some of the bite out of disaster. Ron Lady Brookhaven LRC "From MOJO.. Having lived aboard 9+ yrs. now and cruised extensively, I'd say that many, if not most live-aboards would be hard pressed to come up with $10,000 of personal effects other than maybe computer equipment which usually takes a separate rider to any policy. (It might actually be beneficial to dump all our accumulated junk and start over with $10 grand!) ........"