Re: Sons Cigar Boat Goes Down
Chiming in on insurance. I suggest it because it shields you from liability. It only costs a couple tanks of gas for me. I spend a little below $200 which covers towing, fuel spills, theft, damage, medical, liability and trailer accidents. This covers an agreed value that's a little above book on my boat, I really think the boat is worth that since it's mechanically correct and cosmetically getting there.
If you never need it the deductible goes down each year too. I think of it as keeping other people away from my retirement savings (both dollars).
Not everyone needs this kind of coverage, if you sail a 17 footer in a little pond it's a waste. But if your boat has value or could cause a loss, it's something to seriously consider.