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YC reciprocal $2,000,000 liability insurance requirement..

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    YC reciprocal $2,000,000 liability insurance requirement..

    I was researching a few YC's in BC, pre planning a few trips and wanting to use reciprocal moorage if available. I don't think this is a bad idea but when I checked my coverage the liability was only $500k. I'm curious what others have for liability and coverage (excluding the value for the boat itself).

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    Brad & Michelle
    Jet & Maverick
    1993 3688 "the Kraken"
    Hino W06 250HP
    14' Avon RIB, 50hp Tohatsu
    Moored at Shelter Bay
    LaConner, WA

    #2
    I know mine is 500K. A lot of marinas are requiring that now vice the “standard” 300K. I haven’t heard of a 2 million$ requirement before but in this day and age nothing surprises me. CYA

    Comment


      #3
      $500k boat liability + $1M umbrella liability will get you close enough to $2M CDN liability that they won't worry about it.
      Pat
      Paragon
      1999 4788

      Comment


        #4
        I currently carry 2m on my boat policy

        KEVIN SANDERS
        4788 DOS PECES - SEWARD ALASKA - LA PAZ BCS MEXICO


        Whats the weather like on the boat
        https://www.weatherlink.com/embeddab...59665f4e4/wide


        Where am I right now? https://maps.findmespot.com/s/2R02

        Comment


          #5
          Dirtyface
          Re insurance
          We keep our boat at BYC in North Vancouver
          To my knowledge all clubs (in BC) require $2 Million liability as does our club
          When you sign up for reciprocal you have to show both your
          membership details and your insurance to confirm compliance

          Comment


            #6
            500k plus 1M umbrella is pretty much the least I would consider and what I carry. Your homeowners umbrella should list your yacht policy on it if they are not from the same company. 1.5US=2MCAD so you would be good.
            1997 Pacific Mariner 65'- Permission Granted
            Detroit Diesels 8v92TTA
            NL Generators
            1998 Novurania 430DL, 2021 70HP Yamaha

            Formerly 2000 Bayliner 4788
            Formerly 2001 Maxum 3300
            Formerly 1996 Celebrity 265

            Comment


              #7
              So we have the Travelers, 500K liablity plus we have $2M umbrella policy that goes over our boat, home, cars and RV....I share this as tends to be more cost effective with an umbrella policy.
              Mark
              USCG OUPV
              1990 4588
              Carlsbad, CA

              Comment


                #8
                $2M is pretty standard in BC for YC recips and it's even becoming a question in some commercial marinas (for transient moorage). It's not uncommon for insurers to offer $10M liability now..
                ________________
                1998 Bayliner 4788
                1989 Bayliner 3270 - SOLD-

                Comment


                  #9
                  I carry 1mil. Couldn’t get an umbrella policy because I own a Cessna.
                  Jim Gandee
                  1989 3888
                  Hino 175's
                  Fire Escape
                  [email protected]
                  Alamitos Bay, SoCal

                  Comment


                    #10
                    We have carried $2M (CAD) on our policy with Chubb for years.
                    Rob
                    Bayliner 5788
                    'Merlin V'
                    Vancouver BC

                    Comment


                      #11
                      So does anybody have any actual experience knowing what a marina will require considering that the US dollar today is $1.30 and because it fluctuates what impact will that have . I’m sort of looking for one of those insurancePeople on our site to chime in
                      Joe
                      2001 5288
                      Lucky Liner ll

                      Comment


                        #12
                        No an insurance person, but I say in So California and Baja everyone is fine with $1M liability USD....if your concern is Marina. On the other hand what is your net worth and what are you trying to protect determines how much you should really have, if things go really bad and they come after (a death that was your fault) there goes your home, boat, cars, Rv, bank accounts, business, and every other asset)...that is the idea of liablity insurance to protect your ASSets....if do not have many assets $1M does the trick.
                        Mark
                        USCG OUPV
                        1990 4588
                        Carlsbad, CA

                        Comment

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