Thanks Bob for a great summary.
I just can’t image why anyone (rich or poor) would not pay the relatively minimal price to insure a $300,000 asset against loss from any cause.
If lightning had struck this boat and it burned to the waterline, would this guy sue God or the Canadian Weather Service in the BC superior court, or would he have happily shrugged his shoulders and said, ‘hey, I chose to self-insure, and $300,000 down the drain is no big deal to me’?
Not to mention liability insurance, where any local runaway jury could have awarded a $10 million verdict against him for some judgement error in an accident. Perhaps he would have again shrugged his shoulders and said, “hey, $10 million down the drain is no big deal to me. The girls will still go to best colleges on the continent.”
All that said, we have seen several of these Cutwater 302 with twin Yamaha 300hp outboards at the 3 Ranger/Cutwater Gatherings we attended in 2018 (is that a C-Brat member record for 1 year?). We were not impressed by how the superb ‘fit and finish’ resulted in through-hulls and wiring and utility runs etc that were totally inaccessible from inside the boat (alluded to in survey #2). They look like inboard diesel boats converted too quickly to multi-outboard boats, marine engineering be damned.
Marc Grove’s summary of ‘10# of s*** in a 5# bag’ for the Cutwater line strikes me as ‘best said.’ Good line, Marc.
Interesting story, but I don’t see how any outcome will satisfy all those involved. If you are rich, buy insurance. If you are poor, buy insurance. If you are in between, buy insurance. If you never think you will need insurance, buy insurance. If you think you need a lot more insurance than you really do, buy insurance.
I hope I have made my point that buying insurance is generally a good bet re the bad deals that real life can deal out.
And after that…none of us gets out of this alive.
John