Insurance

[storm petrel]

Self insurance would by too risky for many of us. I like to stay at the CYC when I sail to Sydney and this requires $2 million 3rd party cover (provided by most comprehensive covers). The out of water survey every 5 years is good insurance in itself as we all get a little complacent and without It companies could really screw you down about pre-existing condition after a major claim.

[Bruce]

Shaun,

The public liability aspect is a fair comment, as is what happens if there are multiple total losses in a year. I don't have all the answers and I'm no insurance expert, I just see us all paying lots of money to insurance companies for little return, other than peace of mind.

As a group of owners we all take great care to protect our assets and I'm guessing that there would be few if any total insurance losses that followers of this website could remember, or any incidents/claims that resulted in a public liability payout.

The amount we pay for insurance might be consistent with the sum insured in comparison to other risks such as cars etc, but it's probably not consistent with the actual risk that we, as a group, represent.

Bruce