On 7 May 2007 21:25:35 -0700, Skip Gundlach
wrote:

[...]
* Unfortunately, nobody will insure us - or, at least, the boat -
as
there's been a wreck. However... We can't be insured. Many cruisers
self-insure, due to the costs of true bluewater (offshore, not covered
in
coastal cruising)insurance. That is to say they are responsible for
any and
all of their own losses, and have a good reserve for emergencies, but
the
main reason cruisers self-insure is to save those considerable costs
of
insurance. Because we can't be insured, we also don't have to spend
that
considerable amount. Because the mortgage is paid off, we aren't
required
to have that insurance, but we also don't have to pay that mortgage
amount
each month. The difference in monthly income (insurance and mortgage
payments not made) may mean we won't have to work as we'd expected.
Thanksgiving came early this year...
[...]

One thing about not having insurance, it might limit where you can
stay. If you plan to stay at any marinas, most around here require
insurance.

Steve