Like Tree0Likes

Required Insurance

Reply
Old 05-08-2006, 02:17 PM
  #1
Registered
Thread Starter
 
rtaylor's Avatar
 
Join Date: May 2001
Location: Ponte Vedra Beach, Fl.
Posts: 575
Default Required Insurance

Help me out: Assume I am financing a used boat for about 35k. What are the standard requirements on insuring the boat, assuming I have no home equity? Does it vary from state to state? I get so many different stories my head is spinning.
rtaylor is offline  
Reply With Quote
Old 05-08-2006, 02:26 PM
  #2
Platinum Member
Platinum Member
 
CigDaze's Avatar
 
Join Date: Jun 2001
Location: St. Petersburg, FL
My Boats: Cigarette 35 Cafe Racer
Posts: 21,346
Default Re: Required Insurance

The only minimum you will have is what your lender sets forth to protect their interest. It's usually the boat's market value, or amount financed.

I'm not aware of any state mandated insurance requirement, it's not like it is with cars.
CigDaze is offline  
Reply With Quote
Old 05-08-2006, 02:30 PM
  #3
SORE MEMBER
Platinum Member
 
Wobble's Avatar
 
Join Date: Apr 2004
Location: 2950'49.74"N 95 5'17.55"W.......TEXAS
My Boats: SeaDoo RXP & RXP-X, Stryker Equalizer 28, Eliminator Daytona Jet
Posts: 6,708
Default Re: Required Insurance

found this, http://www.unitedmarine.net/states/ny.htm insurance is to protect you and your passengers from a major financial loss. I wouldn't be without it. Your finance company can set whatever insurance requirements it sees fit to protect it's interest. If your finance companies requirements are too expensive, you may have to look elsewhere.
Wobble is offline  
Reply With Quote
Old 05-08-2006, 03:56 PM
  #4
Registered
Thread Starter
 
rtaylor's Avatar
 
Join Date: May 2001
Location: Ponte Vedra Beach, Fl.
Posts: 575
Default Re: Required Insurance

Thanks fellas.
rtaylor is offline  
Reply With Quote
Reply

Related Topics
Thread
Thread Starter
Forum
Replies
Last Post
z.zuperboat
General Q & A
0
09-26-2007 09:51 AM
rangerrick63
General Q & A
4
01-21-2007 10:40 AM
Cord
General Boating Discussion
20
05-06-2003 06:58 PM
First Mate
General Q & A
4
01-20-2003 03:46 PM



Posting Rules
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts

BB code is On
Smilies are On
[IMG] code is On
HTML code is Off
Trackbacks are On
Pingbacks are On
Refbacks are On



All times are GMT -5. The time now is 09:36 AM.


Copyright 2011 OffShoreOnly. All rights reserved.