I have a lot of questions about insurance, and these are things that I hate to ask insurance companies, because I don't want them to start thinking that beach cats are a bad risk and raise premiums. So I will ask you guys first.
When you have this insurance for $150 a year, is that just to cover damage to your own boat, or also to other boats you may damage?
It does not include liability insurance, too, does it? Do most of you have the liability covered as part of your homeowner's policy?
It seems like a lot of regattas now are requiring proof of liability insurance, so what do you do -- give them a copy of your homeowner's policy?
And what about people who do not own homes?
Can you add liability insurance to that boat damage policy, or do you have to get a "personal" liability policy?
In either of the above cases, how much more expensive is it -- and how much liability coverage are you required to have and by whose requirements? I assume it would have to be enough to cover you if you and your boat inflicted serious bodily injury or death on someone.
Also, a couple of you have mentioned that you should make sure your policy covers you for "racing." If you do not ask for a "racing" policy, does it cost less? I know some people do not mention that they are going to race, and they are afraid to ask the insurance company about it, because they figure it is going to cost a lot more for the policy if they know they are going to race. Just wondered whether that is the case (that there is a price difference)? Obviously, $150 is a very reasonable price, so I can see no reason to NOT declare that you are a racer, but I am just curious as to whether there is a difference.
Should regatta organizers require that everybody have damage insurance on their own boats as well as liability insurance? Would that make us less dependent upon good sportsmanship but have the side effect of resulting in more boat damage since everybody would know that everybody else has insurance, so no big deal if you put a hole in somebody's boat?
