Wednesday, November 21, 2012
Marine Survey and Insurance
I was able to find a marine surveyor here in Little Rock and he was unusually busy at this time of year but was able to squeeze me into his schedule. Insurance companies require a survey before they will offer their coverage. I was dealing with BoatUS Insurance company. Before the survey they were only going to give me coverage up to $25,000. After they accepted the survey, they upped their coverage to $50,000. That will cover about half of what I have in the boat if it's totaled but I knew going into this project that this wasn't going to be a money making venture and I would certainly lose money. I will carry coverage insurance for at least a year to gain experience and will later adjust it as I see fit. I am scheduled to move the boat the week of Nov. 27th. I only have a 10 mile move from my house to Little Rock Yacht Club. I am cutting it a bit close, but still plan to leave in the middle of January for my trip to the Bahamas. It's getting very exciting indeed.