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Old 21-08-2014, 10:34   #16
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Re: Insurance requiring the correction of survey issues 8 months after issuing a poli

I've always just replied with a statement indicated what I've done in response to their request. If they requested something be addressed which I feel does not need to be addressed, I've either addressed why or just ignored it.

If they continue to insist you spend a great deal of money addressing things in ways you do not think worth spending the money on, then you need to decide whether to go with another insurance company or address them.

One thing I've learned is that it may pay to get a separate purchase survey and insurance survey. I want a purchase survey to point out every little thing I may wish to consider when buying a boat but that may not be what I want to give an insurance company.
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Old 21-08-2014, 10:44   #17
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Re: Insurance requiring the correction of survey issues 8 months after issuing a poli

In my surveys there were immediate safety concerns and then "other things". My insurance companies always just wanted me to certify that the immediate safety concerns were fixed.
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Old 21-08-2014, 11:19   #18
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Re: Insurance requiring the correction of survey issues 8 months after issuing a poli

Things that are safety and certification related come first. Things like replacing house batteries would be something I wouldn't expect an insurance company to care about.

The suggestion of an action plan is a good idea.

In reality most insurance companies are only interested in things that will affect their bottom line if they have to honor a claim.

If they claim they forget to get you to sign something I would be notifying the relevant regulatory body or ombudsman. This raises an issue of competence.

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Old 21-08-2014, 11:25   #19
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Re: Insurance requiring the correction of survey issues 8 months after issuing a poli

the buyer should have made certain the phrases involving finding the problems and repair of same were to be covered by seller, and that purchase is pending completion of these specified repairs, so you would not now be in danger of loss of boat or loss of insurance due to failure of seller to have maintained his boat.
i would have also reduced said alleged purchase by 7500-10,000 usd because of the increased expenses of having to repair after purchase and the hassles involved. .

unfortunately , you are now in this position. the best thing you can do is request , formally., from your insurer an extension so you are able to continue to complete these repairs you found more costly than you had expected. dont forget to thank them for their interest in your safety , and then get er done. good luck.
get er done.

(yeah, i been here done this .. loong ago in another life. be safe. do request an extension, if you need it, and keeep in communication with them. they run your life now. sorry. )
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Old 21-08-2014, 13:40   #20
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Re: Insurance requiring the correction of survey issues 8 months after issuing a poli

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You need a new insurance company.

They are actually being very nice.....I think it will work out fine......I was just trying to ascertain if this is a common screw up by insurance companies and what folks might have done to mitigate any potential issues.....or get them to waive the "issues" completely since they didn't request the modifications prior to me paying for the policy in full.....thanks


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Old 21-08-2014, 16:27   #21
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Re: Insurance requiring the correction of survey issues 8 months after issuing a poli

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They are actually being very nice.....I think it will work out fine......I was just trying to ascertain if this is a common screw up by insurance companies and what folks might have done to mitigate any potential issues.....or get them to waive the "issues" completely since they didn't request the modifications prior to me paying for the policy in full.....thanks


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thisis actually a common sale contract problem . it is not the insurnce company, it is whoever drew up the contract failing to include those important phrases. yes i was caught also, back in a previous life. was not fun. do keep in touch with insurance company about this. sorry you are going thru this.i t is unpleasant and can get much worse.
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Old 22-08-2014, 07:29   #22
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Re: Insurance requiring the correction of survey issues 8 months after issuing a poli

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thisis actually a common sale contract problem . it is not the insurnce company, it is whoever drew up the contract failing to include those important phrases. yes i was caught also, back in a previous life. was not fun. do keep in touch with insurance company about this. sorry you are going thru this.i t is unpleasant and can get much worse.

I don't want to give the wrong impression, I already knew all of these items existed before the survey when I bought our boat. I actually knew of a couple minor things that the surveyor didn't find that the prior owner pointed out. I could have, but didn't, use them as a negotiating point because I thought I had as much time as I needed to correct them so I could spread the cost out over a couple of years. If the insurance company had told me about this requirement initially, the seller would have gladly made allowances if I had asked. Most were cheap to address, but the house battery and breaker modifications are far and away the most expensive ones. In the "big picture", we got a great deal on our boat and I'm not the type to try and beat someone down for every nickel when buying something. The insurance company has waived the house battery replacement so that just leaves the main double pole breaker/polarity indicator which I think they are going to be satisfied with it being on the "to do" list since, if I recall correctly, our current dock power pedestal has a GFI built in and a double pole main shutoff. I'll be sure to post the final resolution....thanks


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Old 22-08-2014, 07:56   #23
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Re: Insurance requiring the correction of survey issues 8 months after issuing a poli

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If they claim they forget to get you to sign something I would be notifying the relevant regulatory body or ombudsman. This raises an issue of competence.

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How exactly would it raise an issue of competence? They found a paperwork error and they are taking reasonable measures to correct it.

People make mistakes unless there was something systematic or malicious there is no competence issue.
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Old 22-08-2014, 08:00   #24
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Re: Insurance requiring the correction of survey issues 8 months after issuing a poli

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i would have also reduced said alleged purchase by 7500-10,000 usd because of the increased expenses of having to repair after purchase and the hassles involved. .
The sale price is independent of the insurance. I can guarantee the insurance company never made any guarantee or warrantee regarding the appropriate purchase price for the boat.

Plus the OP had a copy of the survey so the issues were known ahead of time if the OP wanted to use them to negotiate a lower price.
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Old 22-08-2014, 08:00   #25
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Re: Insurance requiring the correction of survey issues 8 months after issuing a poli

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In my surveys there were immediate safety concerns and then "other things". My insurance companies always just wanted me to certify that the immediate safety concerns were fixed.
You should always have the surveyor separate concerns into 2 categories; those that are safety issues and must be repaired, and those which are on a to-do list. If it is for insurance, I would ask why they are required (CG code) if not obvious. A car, for example must pass a safety check to be insured, but the inspection is based upon the "as built" standard (there may not be seatbelts) and covers a defined list. When I bought my last boat there were a few required items (flares, covers on battery terminals torn etc.), and a longer list of wishes (microwave not working, fan squeaking).

However, my personal opinion is that you would be a great fool to live in a boat without GFI (easy DIY), good batteries, and propane leak detection that works (stop using the propane and remove the tank for now if the cost is too great). These conditions (the shore-side equivalent) would be unacceptable in a home, so the insurance company probably does feel they are mandatory.
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Old 22-08-2014, 09:30   #26
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Re: Insurance requiring the correction of survey issues 8 months after issuing a poli

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You should always have the surveyor separate concerns into 2 categories; those that are safety issues and must be repaired, and those which are on a to-do list. .
My insurance just said "everything on the survey". I am pretty sure they didn't read the carefully divided sections.
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Old 22-08-2014, 09:36   #27
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Re: Insurance requiring the correction of survey issues 8 months after issuing a poli

the items are irrelevant. it is the wording i mentioned prior that is the important thing. you must have the contract worded appropriately or you learn difficult things. the two possibilities are--repossession and/or loss of insurance.
if insurance is required for ownership and payments, you are kinda done. oops. lessons learned should count for something, as some of us have been through this exact thing.
wording is all important in a contract. as this was not a properly worded item, you are screwed. good luck. just keep in contact with insurance or whomever is owning you in this so that you have minimal problems and loss.
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Old 22-08-2014, 10:03   #28
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Re: Insurance requiring the correction of survey issues 8 months after issuing a poli

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the items are irrelevant. it is the wording i mentioned prior that is the important thing. you must have the contract worded appropriately or you learn difficult things. the two possibilities are--repossession and/or loss of insurance.
if insurance is required for ownership and payments, you are kinda done. oops. lessons learned should count for something, as some of us have been through this exact thing.
wording is all important in a contract. as this was not a properly worded item, you are screwed. good luck. just keep in contact with insurance or whomever is owning you in this so that you have minimal problems and loss.
Yes, the wording in a contract is what you are agreeing to. So of course it is important.
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Old 22-08-2014, 13:29   #29
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Re: Insurance requiring the correction of survey issues 8 months after issuing a poli

The reality is it's in the surveyor and insurance companies interest to just throw everything into the "it needs to be fixed" catagory and let you argue otherwise.

It's far to easy for something seemingly harmless to later become a liability. If it's on the must fix list, they are covered. If it's on the fix it if you feel like list, they can be blamed.

Regardless, the price you pay is what you agreed to. The fact that the insurance may or may not make you fix things when you make an offer is your problem.
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Old 22-08-2014, 14:30   #30
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Re: Insurance requiring the correction of survey issues 8 months after issuing a poli

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They are actually being very nice.....I think it will work out fine......I was just trying to ascertain if this is a common screw up by insurance companies and what folks might have done to mitigate any potential issues.....or get them to waive the "issues" completely since they didn't request the modifications prior to me paying for the policy in full.....thanks


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Yeah.. but they are causing you a lot of grief by wanting "everything" in the survey fixed. I have seen surveys that state things like "suitable for coastal cruising..." or "condition of the chainplates cannot be determined" ..It sounds like with your ins company this would exclude you from going far... or require you to replace the chainplates. Maybe things have changed, I haven't bought a large boat for about 10 years... but I was never asked to fix everything mentioned, although there are often several items. A couple times I had to put an extra clamp on a single clamped hose etc (even though that clamp wasnt on the barb... no room! I just put it on there loosely "for show".)
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