Coverage required

Another installment on the route to Alhambra. Screen Shot 2016-08-14 at 11.19.47 AM
The scale of finance attached to purchasing a Liveaboard boat keeps popping into my mind barnacled with bubbles of “Agghhhh, loads of money, loads of responsibility, what if….” The decision to buy your home is said to be one of life’s largest expenses.

IT IS … and it’s OK.
Infact it’s a good idea to do it if you are luck enough to be in such a position. We are lucky to be in that position.

I wanted to focus this post on an ingredient of the process. The requirement for insurance coverage.

Not having  masses of savings, it’s been necessary to seek financing.
Thanks Hitachi  Capital HK Ltd. Appreciated. Sure they’ll appreciate the interest too…..
The finance co’ requested comprehensive insurance coverage for the boat.  OK then.

I was referred to Citipooint. Called them. They provided a quote that far exceeded my budget amount. I’d budgeted from comments from the experienced. Bubbles of concern pop up again, more cost…. eeekkkk

I went onto the HK Government Marine Department‘s web site. They list Insurance companies. I contacted all of them and requested quotations. They all provided quotes that were surprisingly close in cost and far lower than Citipoint.

Having car insurance in HK with Kiwisure , I thought I’d ask them too. No surprise, they can do that. Their charges in line with the others.
Time to make a decision, agree an amount and sign a quote.

“If you don’t ask, you’ll never know”

In line with that thinking, I asked the company if they could provide additional discount as I’ve maintained a relationship {car insurance coverage} with them for years.
Yup… Yeah.
Worth asking 🙂

Now we’re signed and sealed, with vessel value and house contents covered.IMG_4857

At this stage we’ve one week to go and we should be onboard.

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