Compulsory insurance

Vent your frustration on those who think they are untouchable
Hangtime
Posts: 11
Joined: Tue Jul 22, 2008 6:10 pm
Location: Gosford

Compulsory insurance

Post by Hangtime »

I was reading in the Coastal Passage that the QLD government has passed a law say any vessel 15metres or more MUST have major insurance!! supposedly incase you get shipwrecked and there is cleanup costs? You can bet that in a short time the size minimum will go down? My boat is 12.2 metres and right now its my choice! It will probably be forced upon me soon.

Sorry to sound like a Pessimist but its the way govornments work - by desensitisation
mahnamahna
Posts: 580
Joined: Wed Aug 02, 2006 4:48 pm
Location: Gosford NSW

Compulsory insurance

Post by mahnamahna »

Compulsory Third party property damage insurance I could live with, I intend to fully insure my boat for the first 5-10 years so it probably would not effect me to start with but as the value of my boat starts to decrease with age I will weigh up if it is still worthwhile then, but I think making everyone insure against loss or damage to others is not so bad, imagine some nutter on a jet ski or ski boat with no insurance putting a $20k hole in the side of your boat.



Insurance is compulsory in many parts of Europe and you cant enter without original (not copies) ownership, registration and insurance papers.



But in the end, forcing insurance on cruisers is just another small measure of control. Governments dont like cruisers, they are scared of the idea of free spirits and nomadic populations. They cant exersize the control they want. They would prefer we all had huge McMansions with huge mortgages and drove to work each day in the peak hour madness, paid our taxes and did what we were told.
Catalyst60
Posts: 29
Joined: Mon Jun 23, 2008 4:47 am
Location: Brisbane

Compulsory insurance

Post by Catalyst60 »

Hi

We must have full insurance to get a marina berth in SE Queensland

DT
44c
Posts: 1148
Joined: Tue Aug 08, 2006 5:08 am
Location: Hervey Bay, Qld

Compulsory insurance

Post by 44c »

Insurance is a load of c*ap. A friend of ours had his boat rammed in the local marina, it's a beautiful old Huon pine ketch, and the damage was assessed at $17,000. The guy's insurance company is doing their damndest to avoid paying - the latest excuse is that his engines had stopped so they somehow reckon they aren't liable!



He looks like having to go to court, but it doesn't take long to run up huge court costs, and you end up being no better off.
Jim
Posts: 691
Joined: Fri May 19, 2006 8:25 am
Location: Cairns

Compulsory insurance

Post by Jim »

All the above is true, however I couldn't not fully insure my boat and still sleep at nite. I have had it insured for most of the construction period and will continue to do so. Cairns being a cyclone area, so any time between November and March the whole lot could be wiped out. The problems with insurance is if that same nutter rams you with his jetski and he is drunk or unlicenced, he is not covered by his insurance, so then it up to your own insurance to cover it. We hope.

How many times do you see on the news where some busted arse yachtie wipes his boat out and all he has left is a pair of ripped boardies because he was too lousy to insure his boat. The old "air is free, so why should I pay for anything else theory".

Jim.
mahnamahna
Posts: 580
Joined: Wed Aug 02, 2006 4:48 pm
Location: Gosford NSW

Compulsory insurance

Post by mahnamahna »

Jim, As I said, I will be insuring my boat because hopefully after she is finished she will be worth about the same as a modest house in most parts of Australia and forms part of my retirement retirement income (the retirement I have after I have finished retiring to the boat for a while). That said, I think that "too lousy" is a bit harsh on the free spirits out there that are in essence the envy of a lot of people, no ties to hold them, not much need for "stuff" and little or no income. I don't blame people for wanting a detached uncomplicated life, and if you have a modest vessel, well self maintained and a are a good person, I dont see why they cant enjoy that free spirit. There are many of them out there and most are great characters. If we didnt do things for fear of the worst that could happen we might not do anything interesting and live the dreaded job, home, job life I described earlier. That would be my idea of hell. Never having a dream. And lack of funds for such things as insurance should not be an impediment to living that dream for those that want to.
mySerenity
Posts: 755
Joined: Thu May 04, 2006 7:36 pm
Location: Brisbane Australia
Contact:

Compulsory insurance

Post by mySerenity »

44C

You couldn’t hint at the Insurance mob? Here would be a great place to ‘see and avoid’ (so to speak). I have been insured during the build stage and will be once on the water. Hope its not the mob I’m using as my reason for insurance is to cover for just such incidents.
The guy's insurance company is doing their damndest to avoid paying - the latest excuse is that his engines had stopped so they somehow reckon they aren't liable!
This guy could be behind the push not to pay too, as its almost certain his premiums will increase if the money is paid.
James
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44c
Posts: 1148
Joined: Tue Aug 08, 2006 5:08 am
Location: Hervey Bay, Qld

Compulsory insurance

Post by 44c »

I believe it's QBE. Which is the insurance company I've been with for the past 8 years, so it makes me wonder how much coverage I would have had in a similar incident.



You're probably right that the owner of the stinkboat is trying to stop them from paying, he is very unpopular in the marina - he's strongly suspected of having pumped a bilge full of oil into the marina too.



He is apparently a bit of a bully and tries to use stand over tactics to intimidate people. The owner of the ketch is a fairly elderly guy, and certainly wants to avoid this creep.



I've offered to organise myself and a few mates to go and have a "friendy chat" with him if neccessary. We'll see.
Smooth Cruiser
Posts: 583
Joined: Thu May 11, 2006 1:51 am
Location: Brisbane

Compulsory insurance

Post by Smooth Cruiser »

I agree with all of the stuff about free spirits. I just hope one of them doesn't hit my boat.



You will find that most marinas want you to be insured and some won't even let you in without you first providing the policy number and them calling your insurer to confirm it is current. I think this will only be for third party and liability cover though.
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