Insurance

[Frink98]

As many of those who are frequenters to this forum, Keelbolts has exclaimed that I am in the process of purchasing a 1973 Trojan Tricabin out of Washington DC.

The process has been quite tremendous to say the least. What we are dealing with now is insurance.

We need to haul her out to check out the bottom and get her transported but we will need to get insurance-- we aren't sure whether the boat has insurance currently.

So what we have been told is that we need a survey to get insurance but the problem is to do a survey we have to haul her out-- which can't happen because we need insurance.... funny catch 22.

I've been told some insurance companies don't require insurance. I've also been told that there are surveyors out there that don't charge an arm and a leg to do the survey..... hopefully neither/either isn't a myth.


Any advice or suggestions are greatly appreciated.

[Stripermann2]

If this boat is being sold through a broker, then let them make the arraingements to get her to a yard to have hauled. Either them or the current owner. The survey will be on your dime as most likely the fees involved with hauling.

If this process turns into a hassel. Walk away. The problem where the boat is located is that there are not any close-by yards to conveniently pull the boat.

You may want to contact BoatUS and explain your dilema and see what they say.
Where I'm out, down river...they don't require insurance for a haul out. Just green stuff $$$.

[koviak]

All insurance co. require a survey for coverage. Check around for yard that will do a short haul, don't mention insurance and they won't either. I have done this on other boats without issue. Not sure about survey pricing as this seems to be high and low depending on who is asked. Don't be afraid to call someone not in your area as you may get a better price. Hull survey alone is not to pricey, mechanical surveys are.

[larglo]

You may give PROGRESSIVE insurance a call. I insure with them, and they did not request a survey. I just got a quote from Boats US, and they were cheaper, no survey, but really have to go through loops with them. They do require written forms to be made out about the boat, pictures, etc, sent to them first.
When I requested a quote from them, was told about all this in a e mail along with the quote.

Hope this helps,

Larry

[willietrojan]

I had my insurance via Progressive but I believe that they will only insure boats up to 30 years old. A survey can cost over $18.00 a foot

[dodgeem]

A lot of companies have the 30 year limit. Progressive worked for me but not at what I'd like to insure it for.

[Heefus]

Progressive here too. Boat US required a survey due to the age of the boat. Forget that. If pictures aren't good enough for them, then I will go with someone else.

[Big D]

Aren't the people hauling the boat out (for the survey) insured and responsible for your boat should something go wrong while in thier care?

[prowlersfish]

Frink98
Welcome to the forum , Most insurance company's if not all will require a survey for full coverage . for liability only many do not , call around . Some will insure you and give you a time frame to have a survey done , again call around . If you have car or home owners insurance check with them see what they can do .

Good Luck

[Frink98]

Thanks.

I spoke to nationwide, boatUS and state farm-- all of which require surveys.

Progressive, whom of which I have other insurance with, was atrociously higher than others. They didn't mention a survey but they prolly do.

Jamie where do you haul out?? The closest to the boat supposedly is ft Washington. I'm willing to go father for less the hassle.

Anyone know a decent rate surveyor close enough to dc??

[prowlersfish]

Did you ask about liability only ? If they still say so ask them to double check with a underwriter , the agents on the phones don't always know the right info. also ask if the have a grace period to get the survey if the need one,

Some company's will take a " in water" survey

[Stripermann2]

Thanks.

I spoke to nationwide, boatUS and state farm-- all of which require surveys.

Progressive, whom of which I have other insurance with, was atrociously higher than others. They didn't mention a survey but they prolly do.

Jamie where do you haul out?? The closest to the boat supposedly is ft Washington. I'm willing to go father for less the hassle.

Anyone know a decent rate surveyor close enough to dc??

About 65 miles south. Ft washington marina is a nice haul out. They do no do any service work. Had my boat hauled and blocked there before. I can take your boat there on one engine if interested...went all the way down river on one before! I know the river very well.

[Frink98]

@ Jamie- we'll let you know. Currently the broker says that engines will turn over but that they couldn't get them to start, so we are working a tow. If you have suggestions we welcome them and would definitely appreciate you once overing the boat to ensure we haven't missed anything.

@prowler will look into whether they can do a delayed survey.

[k9th]

Welcome to the forum. I use State Farm and have no issues with the coverage. Hope everything goes well and that you love your tri-cabin as much I as we love ours.

[rossjo]

Currently the broker says that engines will turn over but that they couldn't get them to start, so we are working a tow.

How long has the boat been sitting? The fuel tank is full of phase separated gas/ethanol/fuel, so it wil have to be pumped out, fuel lines purged and the carbs rebuilt. I'd push this on the broker (or walk away if it was me).

The survey should include a sea trial. I would not buy a boat that I didn't sea trial, so the fuel problem really needs to be cleared up to move forward.