Cruisers Forum
 


Join CruisersForum Today

Reply
 
Thread Tools Search this Thread Rate Thread Display Modes
Old 30-05-2020, 13:38   #1
Registered User

Join Date: Jan 2016
Location: Huntington NY
Boat: Tartan 3000
Posts: 340
Liability only insurance no survey required

I have a 1984 Tartan 3000, 30 ft monohull located in Huntington, NY. The value of this boat is 10k to 15k. For several years, 2016 - 2018 had a Geico / Boat US liability only insurance policy. This 1 million Liability policy was initially $75 rising to $87 in 2018. I chose the 1 million because it was the same price as the 250k policy. In 2019 left the boat on the hard for a season so did not renew the Geico policy.

Today I made a call to Geico to see about reinstating the policy for 2020. For liability only policies they would now offer only 500k policy, no 1 million is available. The price was $125 including Boat US towing. Also a survey would be required. I remember this same request for a survey in 2016. After checking the 2016 agent conirmed no survey required as it was liability only policy. The agent today insist a survey is required.

Has anyone had the same experience as me with Boat US?
I'm interested to get a liability only policy without survey sailing primarily on the Long Island Sound.

Please advise any helpful information
__________________

Larry Florida is offline   Reply With Quote
Old 30-05-2020, 13:51   #2
Registered User
 
flyingfin's Avatar

Join Date: Oct 2016
Location: Cape Haze,FL
Boat: Carver,Cobia,Nacra, Columbia
Posts: 535
Re: Liability only insurance no survey required

Let me get this right. You want a company to risk a damages payout of $500,000 due to your actions, or bad decisions or just bad luck, all for a whopping $125 bucks. And is that a monthly or annual premium?? Just how much is your annual cell phone bill?
__________________

flyingfin is offline   Reply With Quote
Old 30-05-2020, 13:56   #3
Registered User
 
Mike OReilly's Avatar

Join Date: Sep 2011
Location: Good question
Boat: Rafiki 37
Posts: 8,251
Re: Liability only insurance no survey required

Quote:
Originally Posted by flyingfin View Post
Let me get this right. You want a company to risk a damages payout of $500,000 due to your actions, or bad decisions or just bad luck, all for a whopping $125 bucks a year. How much is your cell phone bill?

Liability is typically quite inexpensive. It inexpensive because the real risk to underwriters is quite small. I pay less than that for $2M coverage as part of a comprehensive policy.
__________________
Why go fast, when you can go slow.
BLOG: www.helplink.com/CLAFC
Mike OReilly is offline   Reply With Quote
Old 30-05-2020, 14:06   #4
Registered User
 
S/V Illusion's Avatar

Join Date: Oct 2007
Location: Lakewood Ranch, FLORIDA
Boat: Alden 50, Sarasota, Florida
Posts: 2,391
Re: Liability only insurance no survey required

As the saying goes, Insurance is always too expensive .... until you need it
S/V Illusion is offline   Reply With Quote
Old 30-05-2020, 14:17   #5
Registered User

Join Date: Jan 2016
Location: Huntington NY
Boat: Tartan 3000
Posts: 340
Re: Liability only insurance no survey required

Quote:
Originally Posted by flyingfin View Post
Let me get this right. You want a company to risk a damages payout of $500,000 due to your actions, or bad decisions or just bad luck, all for a whopping $125 bucks. And is that a monthly or annual premium?? Just how much is your annual cell phone bill?
Actually I'm looking for a liability only policy without a survey. The prices mentioned were the historical policy premiums paid for the years mentioned.

Even without knowing you I'm certain Geico knows more about setting insurance rates than your good self. My cellphone bill was $211 last month, 4 lines!
Larry Florida is offline   Reply With Quote
Old 30-05-2020, 14:23   #6
Registered User
 
Cheechako's Avatar

Join Date: Aug 2006
Location: Skagit City, WA
Posts: 22,512
Re: Liability only insurance no survey required

Check with your auto insurer. For local recreational boating They have never asked me for a survey for liability on smaller craft.
__________________
"I spent most of my money on Booze, Broads and Boats. The rest I wasted" - Elmore Leonard











Cheechako is online now   Reply With Quote
Old 30-05-2020, 14:27   #7
smj
Registered User

Join Date: Nov 2007
Boat: Searunner 38 catamaran
Posts: 4,838
Liability only insurance no survey required

We have our catamaran insured through Geico, liability only.
They insisted on a survey 2 years ago, no problem as I had an existing survey from when purchasing the boat.
As they cover pollution/discharge costs I can understand their need for a survey.
smj is offline   Reply With Quote
Old 31-05-2020, 08:52   #8
Registered User

Join Date: Apr 2018
Location: Scotland
Boat: 42ft Moody Ketch
Posts: 536
Re: Liability only insurance no survey required

All my liability insurance in UK requires no survey, liability to 8 million US for $89
Liability insurance is very low and low risk, no one truly is going to do 5 million damage, unless you feel the need the hit a Super yacht and sink it
If your boat sinks they do not care, pollution is minimal , how much diesel leaks from your boat will disperse in the water pretty quickly,
Or Soak up cloths on the water do not cost $5 million , nor does hitting a pontoon cost a lot of money.
tarian is offline   Reply With Quote
Old 31-05-2020, 09:13   #9
Registered User

Join Date: Apr 2005
Location: ME, TCI, On da boat
Boat: Pearson 323, Tayana V42CC
Posts: 241
Images: 1
Re: Liability only insurance no survey required

BoatUS let me do a self survey form and send it along with pictures and my latest survey (which was about 20 years old). It took about a week for them to look over what I sent and OK my liability only policy. This was in 2017. This was on Long Island with a well equipped 1980 Pearson 323 sail boat. You have to accept their valuation which is about 50% of what BUC lists the boat at.
Scubaseas is offline   Reply With Quote
Old 31-05-2020, 09:29   #10
Registered User

Join Date: Sep 2019
Posts: 104
Re: Liability only insurance no survey required

Quote:
Originally Posted by tarian View Post
All my liability insurance in UK requires no survey, liability to 8 million US for $89
Liability insurance is very low and low risk, no one truly is going to do 5 million damage, unless you feel the need the hit a Super yacht and sink it
If your boat sinks they do not care, pollution is minimal , how much diesel leaks from your boat will disperse in the water pretty quickly,
Or Soak up cloths on the water do not cost $5 million , nor does hitting a pontoon cost a lot of money.
Who do you have your insurance with?
Im looking for something similar

Thanks !!
AndrewA2 is offline   Reply With Quote
Old 31-05-2020, 09:32   #11
smj
Registered User

Join Date: Nov 2007
Boat: Searunner 38 catamaran
Posts: 4,838
Re: Liability only insurance no survey required

Quote:
Originally Posted by tarian View Post
All my liability insurance in UK requires no survey, liability to 8 million US for $89

Liability insurance is very low and low risk, no one truly is going to do 5 million damage, unless you feel the need the hit a Super yacht and sink it

If your boat sinks they do not care, pollution is minimal , how much diesel leaks from your boat will disperse in the water pretty quickly,

Or Soak up cloths on the water do not cost $5 million , nor does hitting a pontoon cost a lot of money.


Iím guessing there may be a big difference between the US and UK in liability. Big fines for polluting or even running aground in sea grass in the US to say nothing of the litigious nature
smj is offline   Reply With Quote
Old 31-05-2020, 09:45   #12
Registered User

Join Date: Feb 2014
Posts: 3
Re: Liability only insurance no survey required

Many people are unaware that there is a lot of "fashion" in the insurance industry. Companies exit markets (by pricing or underwriting), all of the time, often without any actuarial basis. It shouldn't take much research to determine if the survey issue has become an industry requirement or a company reaction.
Find a good agent, and don't overlook Surplus Lines carriers.
gpridgen is offline   Reply With Quote
Old 31-05-2020, 10:01   #13
Registered User

Join Date: Jan 2013
Location: On Board but also Scotland
Boat: Prout
Posts: 136
Re: Liability only insurance no survey required

I have used Pantaenius insurance 3rd party for nearly 10 years for world wide sailing. It costs a little over £300. As it is not fully comprehensive insurance no survey has been required though I had one prior to purchase. Should I change to fully comprehensive I would have to provide a survey. However being single handed no one will insure me fully comprehensive, and Pantaenious the only one I could find in the UK who would insure for global solo sailing.
inchcailloch is online now   Reply With Quote
Old 31-05-2020, 10:42   #14
Marine Service Provider

Join Date: Dec 2009
Location: St Augustine, FL
Boat: Woods Vardo 34 Cat
Posts: 3,543
Re: Liability only insurance no survey required

The survey is a requirement now due to the age and the fact they cover wreck removal. I have personally seen progressive and Geico/Boat US pay out mucho for wreck removal. Progressive had been specifically excluding wreck removal last 5 years or so. Therefore any savy marina will no longer accept.

How old is your engine intake hose? Boat sinks at dock they have oil and fuel spill liability to pay plus the cost of removing wreck.

Situation totally sucks, but that's what the story is. If you have big enough assets to need that high of coverage probably better just to get a 10 y/o Beneteau or Hunter that will be easy to insure.

Me, I'm just a poor yacht rigger floating around on a homemade boat with no insurance.
__________________
@mojomarine1
Boatguy30 is offline   Reply With Quote
Old 31-05-2020, 11:11   #15
Registered User

Join Date: Jan 2013
Location: earth
Boat: 40' searunner trimaran
Posts: 65
Re: Liability only insurance no survey required

On this same subject, i would like international coverage for my boat, liability only, no survey, anyone with an idea of what companies might offer this? Seems a lot of marinas now require at least liability.Thank you.
__________________

trimarannaga is online now   Reply With Quote
Reply

Tags
insurance, survey

Thread Tools Search this Thread
Search this Thread:

Advanced Search
Display Modes Rate This Thread
Rate This Thread:

Posting Rules
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts

BB code is On
Smilies are On
[IMG] code is On
HTML code is Off
Trackbacks are Off
Pingbacks are Off
Refbacks are Off


Similar Threads
Thread Thread Starter Forum Replies Last Post
Searching for liability insurance not requiring a survey, in mediterranean Vieux_Chameau Boat Ownership & Making a Living 28 19-07-2017 22:03
How to get 'liability only' insurance for the carribean? Does it exist? redpointist Dollars & Cents 11 26-06-2017 22:58
No insurance, no survey - no survey, no insurance cyclepro General Sailing Forum 45 15-08-2016 06:00
Australia third party only (liability) Insurance without Survey? mischief Dollars & Cents 42 22-09-2014 18:39
Liability-Only Insurance defever Dollars & Cents 6 02-02-2010 10:35

Advertise Here


All times are GMT -7. The time now is 12:09.


Google+
Powered by vBulletin® Version 3.8.8 Beta 1
Copyright ©2000 - 2020, vBulletin Solutions, Inc.
Social Knowledge Networks
Powered by vBulletin® Version 3.8.8 Beta 1
Copyright ©2000 - 2020, vBulletin Solutions, Inc.

ShowCase vBulletin Plugins by Drive Thru Online, Inc.