In a former life, I was a Vice President of a liability insurance company.
An LLC might provide some help, but since YOU PERSONALLY are the Captain, it will not completly shield you form your actions should you commit an error. MOPS usually EXCLUDES coverage for yacht deliveries and other activities not specifically mentioned when you apply. MOPS is primarily for License coverage or in other words to provide legal representation for actions the USCG might take against your license thereby depriving you of the income from your license. They do have optional endorsements that may cover some civil liability, but those are priced according to your proposed covered activities.
One of the BEST things you can do on deliveries is to REQUIRE the Owner to list you as an additional named insured on his policy, this prevents the insurance company from suing YOU and adds your actions to his liability coverage. You would want to get a CERTIFICATE OF INSURANCE from the owners insurance agent showing that this coverage has been issued.
Hope this helps.
[QUOTE=imonthewater;30635]hello all! been a lurker for quite sometime, figured it was time to step up!
so, first question…
100 ton cap working on supply boats GOM. on my time off i occasionally do deliveries of smaller private sailboats and the occasional powerboat.
i am wondering about some kind of personal insurance for a worst case scenario. what is out there?
what kind of prices are we looking at for say 500,000 to a mil of coverage? what about stuff like fuel spills or any other problems one might run across??
it really sucks that it has come to this but these days we all need to CYA!!
Thanks in advance for any recommendations or experiences!![/QUOTE]