Bill,

Nice "cure". While I am against excessive claims, I also believe that
if you f-up you should be liable for a *reasonable* amount of
restitution. The system now is close to what you call a cure. That is
no excuse for someone to not carry liability insurance. Mistakes do
happen and if someone is injured, or property is damaged, *reasonable*
claims should be honored.

Dan


Bill McKee wrote:
If you have no assets, work a near minimum wage job, and have no future
prospects to make more than lower end wages, you do not need insurance. The
law may require you to carry insurance while driving, but 40% I guess of
those in Silicon Valley who drive do not have insurance. You get run into
by one, are you going to sue them? What attorney will take the case? They
have nothing to pay a judgment and will never have unless they hit the
lotto. My cure for the insurance problem, is you can sue for as much
insurance as you carry. You carry the minimum $30k liability, that is what
you can sue for. You carry no insurance, that is the amount you can sue
for. If you carry the minimum and have 1 million in assets, I will sue you
for those assets as I carry the million in insurance.

"Terry Spragg" wrote in message
...

Bill McKee wrote:


If you have some assets, insurance is not optional.

"Chris" wrote in message
...


Just wondering if it is mandatory that a boat have insurance (like cars,
bikes, etc)???
Specifically in Ontario Canada.

Is this something optional, or what?

Liability insurance is required to protect you and the public if you do
not want to pay, or cannot, should you lose a lawsuit for damages. In some
cases, eg. road vehicles, you must have such insurance, by law, or be able
to demonstrate convincingly that you could easily afford to pay the
required minimum liability in cash out of your own pocket. If you cannot
produce proof of insurance, you must be able to write a check for the
minimum required in your area. The cash must be in the bank.

All other insurance is optional, once you reach that stage, since only a
financeer will refuse you financing if you refuse to agree to insure, if
only temporarily, the chattel for which you may want a loan for finance.
It is a gamble. Will you get drunk and sink your boat, or sink another's,
or set your cottage on fire? Will someone else? Will you get sued for a
wobbly step?

Buy good old stuff, cheap. Get liability insurance if you can't afford to
pay a million in damages. Stay sober. Be responsible. Buy legal
insurance. Yup, you can get such legal coverage plans. Free lawyers,
yippee! It's a better plan.

I don't finance or need to insure my old car or truck for damages, only
liability. I pay cash, and drive a junker. I pay no interest, and the
banker can't scare me into comprehensive, tornado, fire and flood. It is
cheaper in the long run to keep repairing an old junker, and not finance
it and have to pay interest and for insurance for bird poop, runaway boat
thieves and drunken joyriders, etc, at the behest of the banker who is the
guy that really benefits in the end. He probably underwrites insurers, for
tremendous profits with money borrowed on margin. You should be so smart,
too. Sue the malefactors, with a benefit lawyer, if they dare to scratch
your old, paid for, comfortable junker. Name your boat or get a license
plate that says "Pade 4", or summat like.

It's funny, a few yrs ago, I took my daughter to her graduation dance in
an old rusty Taurus, amid a parade of chromed jitneys, a few rented Shelby
Cobras, caddilacs, '63 T-Birds, etc, rented limousines and all. She was
embarassed because I kept yelling out the window to the jeers "It's paid
for". They put our picture on the front page. Next year, they came in
muddy old jeeps, on skateboards, even hitchhiked to the prom. They still
do, outdoing each other in outrageous, scandalous, individualist vehicles.
She is a wizard with money, not sunk in Visa, whatever. She pays cash. She
saves. She will wind up rich and happy, not behind the joneses, but
ignoring them and their debts.

Save your money. Invest in bank stocks. When you are old enough that the
government might take all you have to pay for an "approved" old age home
at a thousand dollars a week, then put you on welfare and keep it, and
give you cheap drugs and disgraced doctors, and drunken nurses, and tatty
pyjamas, and busted TVs, and no air conditioning, and rotton food, you
should spend all your money on travel, fun, gifts to the kids, etc, and
THEN go to the workhouse, if you were that big a prick to your kids they
won't take you in. It's your life. You keep it, or take it, on your
terms. Christ tells us that our lives are paid for by our deaths, and
His.

YMMV, which of course, means, "You take your chances, I'll take mine."

Screw the insurance crooks, especially Parizeau, they are worse than
lawyers, worse than bankers, much worse than even mechanics. Do the math.
Screw the surveyors, too. Look for yourself. If you can't tell a good
boat from bad, practice. Pay cash, or take the bus. Be patient. Save.
Whittle your own boat. Sail, it's cheaper. Don't take any crap about sails
costing as much as diesel. I've used the same sails for 10 years, not
abused them. They are still fine. Galvanised fittings last longer than
stainless and cost less. Reef early. Never hurry. Do all you can as soon
as you can, as well as you can, as long as you can.

Alternatively, borrow, borrow, borrow, pay interest and insurance on
everyhing, and just pray you never run past the end of credit. Leave your
kids a bunch of debt and junk that's not payed for. Do the math. Budget.
Save.

Start up an old age co-op. Don't trust anybody that doesn't like sex.
Don't allow the world to limit you. Limit yourself. Choose, don't be
pushed.

Terry K -SofDevCo- Strange strategies a speciality. Security advice, too.
"Be inconspicuous."

ROTFLMAO -trust me.