survey and insurance ?'s

[scotty]

okay i bought the 27' hunter as i said. i contacted boatus about liabillity insurance, they quoted 165 a year for 300 k, no hull coverage. but they want a survey due to age, its an 83. i know the survey will look at general condition, electric etc, how in depth will they get normally, i mean is it a tear it apart or just a general look over.

also i did only pay 2 grand for the boat ( a steal in the long run ) does anyone know of an insurance company who wont want the survey, even for a little more cost per year. what i mean is i might only have this boat for a year or two and at about 400 for the survey and if the insurance was a 100 per year more in 2 years i would still be 200 ahead.

[Allan S]

Up here in Canada, our banks now sell insurance. We use RBC (Royal Bank of Canada) for ALL our needs, car, house boat...It cost us about $650 a year total, I can't remember the breakdown but I think our adjuster was a sailor because she kind of led us around with some pointed questions and the end result was a low rate. Never required a survey for our boat because it was under 26 feet. Good luck to you....Allan

[Pblais]

Scotty,

You have the survey and they want it. They will look at the soundness of the boat. They have no interest in writing a policy for a boat that might sink in the slip and cause them $300,000 in liability claims. It it starts on fire first it's even higher. When boats sink in the slip and leaks fuel it adds up pretty fast. Being a 1983 boat alone is no big deal.

No one will write a policy without a survey. Try Allstate they do need a survey but you may find a better rate since you don't want agreed value coverage.

[donradcliffe]

The boat insurance business in the US is deplorable. Requiring a $600 survey on a $2,000 boat is just an example. In Europe, no survey is required for third-party insurance, and it is readily available.

Is your boat too big to be covered under your homeowner's policy??

[nautical62]

If you have homeowner's insurance, you may be able to get a ryder, but this will likely depend on your intended sailing area. I did this with a 26-footer for several years and it was substantially cheaper than stand alone insurance. (In fact, being able to get boat coverage was a factor in the home owner's insurance I chose) In addition to Allstate, check out Progressive.

Also consider that if a survey allows you to get less expensive insurance, it may be worth it. In addition to the insurance savings, you will know more about your boat, and it may be an advantage if you sell it in the very near future.

I had Boat US liability only coverage for one of my pocket cruisers. With smaller boats, I think that can be a good way to go. Unfortunately, they tell me that's no longer an option for Bahamas coverage.

[Microship]

When I had a boat that was considered "trailerable" I was able to add it to my Allstate, since I already had Homeowners (though it was ACV I believe). Saved a bundle... even though it was a Corsair 36 tri. The trailerability was the key for them.

-Steve

[bfharris]

Progressive.com will write a policy without a survey.

[speciald@ocens.]

Almost all reputable insurance coverers will require a survey on boats over ten years old.

[nautical62]

Originally Posted by bfharris

Progressive.com will write a policy without a survey.

Yep - I just got a quote from them today on a 30 foot boat that is older than the 83 mentioned. No survey needed.

[scotty]

yup i got ins last night thru progressive

almost 3 times what boat us wanted, but i will fix the boat, clean it up then get the survey and change ins

[bobnlesley]

As noted earlier; here in the UK there's generally no survey needed for '3rd party liability only' However, I'm surprised by the maximum liability level for such only being $300k; here in europe, the 'standard' cover is £2 million/€3 million? In the situation cited, a boat catching fire and sinking at the dock, you could soon pass $300k in clean-up/removal costs.

[ronsunni]

I was able to get insurance on my Halman 27 Horizon thru AARP with The Hartford Insurance co.. There price was less then half of what Boat US quoated me for the same policy.

[Ex-Calif]

Scotty,

The boat US website has a fair amount of information on it regarding surveys and policies.

It would appear - reading between the lines - they are trying to value your boat. Which makes sense.

They provide a list of suveyors by area and there are many to choose from. I would call some of them, explain that you have a "project boat" and ask them about the costs. I bet you will find one that will work with you and maybe not require a haulout.

Never hurts to try...

[scotty]

well the boat is on the hard right now. still for the cost difference 2 years with progressive is cheaper than getting a survey and boat us

as a high jack the wife and i had a great day on the bay with bob from here, the good part is the wife likes sailing