Originally Posted by BANUSCUBA
After reading your comments re insurance, I feel you may come up with suggestions. Our boat is made in 1984 in a shipyard in Canada
, a strong steel
and well maintained Caroff design boat (US flagged). However we can't find any insurance company to make an overseas insurance (not even for 3.liability) without a survey. This is funny
, cause we see many boats in terrible conditions which had insurance without a survey.
I guess we just cant find the right company.
Btw, we tried Pantenius US, Turkey
, and none agreed! And we need it urgent since we're in Canary Islands getting prepared for ocean crossing
The survey requirement is because the insuring company is assuming the lions share of the risk for losses (both partial and total). Compound this with the inherent potential dangers of offshore
cruising, and you may begin to develop an ideal why there is a survey requirement.
There needs to be surety that the vessel is seaworthy
and materially capable of undertaking offshore
travel- the survey does this. One may argue that the vessel master is the best arbiter for this; history
and actuarial data shows otherwise. A gut feeling does not trump hard data on the material condition of the vessel.
It's expected that the policy will pay should there be a need- having a survey done to assess material condition of the vessel is a small part of the cost of vessel ownership
relative to the amount of money
the insuring companies pay out for losses.
You can self insure for the value of the hull
, and carry liability coverage for the damage you may do to others.