All the above comments are well put.
I lived on my R 25 for several months in 2008, and I had absolutely no home
nor apartment on land during that time----which I thought would go on forever.
You'll never guess what stopped me: Insurance. Not boat insurance.
Not truck insurance. Not medical insurance. All those remained in force.
I had a private mail service that forwarded all my correspondence from
those, and other, entities, and life went on......BUT:
When I sold my home and jumped on ship, I cancelled my Homeowners
Policy, which includes in its bundle General Liability insurance, usually
in amounts from $100,000. to $500,000. That Liability insurance was
required as "underlying" insurance on my Umbrella Insurance for
$1 million dollars, so that, together, I had $1.5 million protection,
plus the cost of legal defense, for any lawsuit arising out of the boat,
the truck, and........... anything else one can't imagine happening.
Liability Insurance is protection for your Assets; and I can assume that
anyone owning a Ranger Tug, particularly the larger models, has significant
assets that can be lost in a lawsuit.
Without Liability insurance, you are "going bare" as they say in the
insurance world. In other words, when named in a lawsuit, ALL your
assets become immediately at risk, from the first dollar to the last dollar.
And, anyone can be named in a lawsuit, at any moment.
Safeco cancelled my Umbrella policy when they discovered, 3 months later, that
I had no Homeowners Insurance with its Liability underlying the Umbrella.
AND, no matter whom I called----and I had friends in high places in the Insurance
world----no one could issue me an underlying General Liability policy without
a home, at least a rented home, attached.
So, I became a landlubber again, rented a home, got all my insurance
re-instated, and was no longer a total Live Aboard.
Charles CIC
