In New York u have to have insurance to reg ur boat . I had to get the boat survey before they would give me insurance. And even then I was not the easiest.

My read is I'll probably be forced to hire legal help to get a damage recovery if a uninsured boater damages my boat and it's his fault and exceeds the coverage I have for that type event.

Since when is it required?

If you have insurance, your insurance should go after the uninsured boater for you. They don't want to recoup any payments they made to you.

Your wrong! No insurance is required for a boat in ny.

I think boaters should have insurance but in Florida it is not required.......

Here is the Homestead protection:

The Homestead exemption in Florida may refer to three different types of homestead exemptions under Florida law:

1.exemption from forced sale before and at death per Art. X, Section 4(a)-(b) of the Florida Constitution[1];
2.restrictions on devise and alienation, Art. X, Section 4(c) of the Florida Constitution;
3.and exemption from taxation per Art. VII, Section 6 of the Florida Constitution.

Florida's homestead exemption providing an exemption from forced sale before and at death are among the most protective in the United States as it provides "no limit" to the value of certain real property that can be protected from creditors. The property tax exemption clause of Article VI renders property tax-free to the extent of certain dollar amounts in the value of the homestead.

The definition of a homestead is not necessarily co-extensive for Article X, Section 4 (a)-(c)exemption purposes (exemption from creditors and restrictions on descent and distribution) and Article VI purposes (exemption from taxation). Both provisions apply automatically upon the establishment of a primary residence in Florida, but to reap the tax assessment benefits, the homestead exemption must be claimed by a filing with the local county property appraiser's office. Homestead can be lost if the homeowner abandons use of the real property as a homestead.

A fourth benefit, while not as clearly an exemption as the above three, is also accorded to one's homestead in Florida per Art. VII, Section 7 of the Florida Constitution. For tax purposes the year-to-year increase in assessed value of the homestead is limited to the lesser of 3% or the percentage change in the Consumer Price Index.


Scope of the Debtor Protection

Florida's debtor protection homestead provision is one of the broadest in the United States. The value of the property that can be protected is unlimited, so long as the property occupies no more than ½ acre (2,000 m²) within a municipality, or 160 acres (650,000 m²) outside of a municipality. The provision is written into the Florida Constitution, Article X, section 4, so it cannot be removed without a constitutional amendment.

Because of the scope of the protection afforded, persons from other states with heavy debts or large court judgments against them have been known to purchase expensive estates in Florida, a famous example being O.J. Simpson. This strategy has been somewhat impaired by the 2005 Bankruptcy Code amendments.

One event that can drastically affect the value of a homestead is municipal incorporation. If a 160 acre (650,000 m²) non-municipal homestead is on land that is later incorporated into a municipality, the homestead will be grandfathered in and remain protected for the owner and his heirs. However, for any future purchasers of all or part of the property, the protected land will drop to the ½ acre (2,000 m²) allowed within a municipality.

Protection from Creditors

The homestead exemption offers virtually absolute protection from forced sale to meet the demands of creditors, except under four special circumstances listed below.

One unique feature of Florida's homestead exemption is that it attaches to proceeds from the sale of a home, if the homeowner intends to use those proceeds to establish a new Florida homestead within a reasonable time. Therefore, if the owner of a $1,000,000 home sells that home and puts the money in a bank account, that money is still protected by the homestead exemption, so long as the homeowner has a bona fide intent to use it to purchase another home in Florida entitled to the exemption within a reasonable period of time. This protection is lost if the funds are commingled with other funds not designated for such a purchase. Also, the protection only extends to the amount the owner intends to invest in a new homestead - if the owner of a $1,000,000 home sells that home, and makes clear his intent to purchase a $750,000 home, the remaining $250,000 will lose its protection. (Note: Florida Statute 222.25(4) provides that if the debtor does not claim or receive the benefits of a homestead exemption, the debtor may claim a $4,000 personal property exemption which is over and above the $1000 to which all debtors are entitled pursuant to Florida Statute 222.25(1).[2]

Exceptions for Certain Creditors

Four types of creditors can still force the sale of a homestead to collect debts owed to them. These are:
1.The State of Florida and its counties or municipalities, to collect past due property taxes;
2.Parties to whom the property was specifically pledged as credit for a mortgage;
3.Mechanics who are owed money for work performed in repairing or improving the property.
4.Any creditor with a lien that pre-dates the establishment of homestead. This usually includes condominium and mandatory homeowner association liens, depending on the language and age of the covenants.

Because the homestead exemption is state law, it can also be overridden by the federal law due to the Supremacy Clause of the United States Constitution. Federal income tax liens are superior to the homestead protection provided by the Florida Constitution. The Internal Revenue Service's policy is reluctant to foreclose on taxpayer's homes to enforce these liens, often only getting satisfied if the real property is sold or mortgaged before the tax lien expires.

Florida's Supreme Court recently held Florida's homestead exemption may be waived in the limited exception of a bankruptcy proceeding.[1]

My umbrella just specifies no closed course dedicated race events. Fun run and poker runs are ok but no actual races that are closed course. I'm guessing a shootout would also not be covered by my umbrella since it's closed course.

x2

Can't f ackin afford it.. That's why. I am behind on everything including my house payment. I have to get chics that have gas money just to take it out.It's paid for so I aint selling it. I traded all my chit to get it. SO maybe dont use it ? No way// Thats what I have it for. That 2 grand a year is what I use to get it to the lake or fix something like an XR Drive. Yeah I am taking a wrisk, but it is a wrisk just like racing.. And you can't insure raceboats. And I dont drink and do stupid chit anymore. I could pay the insurance and let it sit in front of my house .Then who wins? Or use that money to boat about 30 hours a year..



Thank God I believe in The Good Lord. I wouldn't have the thing in the first place if I did not believe. If something bad happens to me, I deserve it, and i will have to deal with it and pay my dues. BTW The Good Lord is the boss of everything

I beg to differ as a race is a closed course event. They are all taking a risk and the same one at that. It's different when hundreds of boats out on the same lake/ body of water decide to take the risk without the others knowing. I don't mean this in offense to anyone here but I don't want to run around with anyone that doesn't have insurance. Sure, we have an un insured boaters policy but would be pretty $hitty that our rates go up because of a claim if it were legitimately the other persons fault but they didn't have any insurance. This thread is shocking me more and more. I'm very glad FMO and any poker runs we run in require proof of insurance. I figured average boaters out there were a mix of those with insurance vs those without (based on their states rules of course) but never would have guessed so many people in performance boating don't have a policy. I guess I would have assumed when boat shopping, the price of insurance is a factor the same way gas, maintenance, storage, truck to trailer, etc is on whether or not it is affordable.