T&T: A nagging question

[Mark Richter]

Insurance rates for boats (especially in Florida) are so high partly because
many claims are paid on boats that weren't suitably prepared for storms.
Since I am ready and able to properly prepare my boat, my risk of damage is
much lower than the average boat's risk.  Short of complete destruction, I'm
also able to repair most any damage my boat does suffer, without paying high
yard rates for labor.  Thus, it becomes uneconomic (a bad bet) for me to buy
hull insurance.  In 14 years I've never suffered a loss, though the boat has
been through 3 named storms (two in Chesapeake Bay and one at home in FL).

Buying insurance is like buying a lottery ticket.  You spend a (relatively)
small amount in hopes of winning a much larger amount.  If the price of a
ticket gets too high, don't buy.

Mark Richter, m/v Winnie the Pooh homeport Ortona, FL,  lying Baltimore