Insurance, survey required?

Skargo · Post by **Skargo** » Thu Oct 13, 2011 7:42 pm

I just got a quote for insurance on my newly purchased 1975 F30. They want a survey! I only paid $800 for the boat, and yes it runs and is in surprisingly decent shape for the money.

Do all companies want a survey?

alexander38 · Post by **alexander38** » Thu Oct 13, 2011 7:47 pm

for boats that size ..yes, and your marina will want to see your insurance ..welcome to catch 22..

captainmaniac · Post by **captainmaniac** » Thu Oct 13, 2011 7:47 pm

Once it reaches a certain age, yes. Plus they will want an update survey every few years.

g36 · Post by **g36** » Thu Oct 13, 2011 7:49 pm

if you only paid $800why do you want insurance? it sinks oh well no big loss.
anyway
yes most if not all want a survey and most with this age boat will want an out of water survey for hull condition. that way they know what they are providing insurance on. your survey will end up being at least half of what you bought the boat for maybe a bit more even and then add the cost of haul out on that. if you can pull it out with your trailer even better no cost there. good luck

alexander38 · Post by **alexander38** » Thu Oct 13, 2011 8:05 pm

[quote="g36"]if you only paid $800why do you want insurance? it sinks oh well no big loss.
anyway

until you have to pay to raise it and clean up the oil slick..

akwalker · Post by **akwalker** » Thu Oct 13, 2011 8:18 pm

alexander38 wrote:
g36 wrote:if you only paid $800why do you want insurance? it sinks oh well no big loss.
anyway

until you have to pay to raise it and clean up the oil slick..

Or it breaks loose and smacks that $250K cruiser docked next to you

alexander38 · Post by **alexander38** » Thu Oct 13, 2011 8:45 pm

that too...

g36 · Post by **g36** » Thu Oct 13, 2011 9:17 pm

give me a break
i wasnt serious about not having insurance or i wouldnt have answered his question

alexander38 · Post by **alexander38** » Thu Oct 13, 2011 9:48 pm

G36 I figured that.....just using the comment to point out why we need it...

BlueBelle · Post by **BlueBelle** » Thu Oct 13, 2011 10:44 pm

I went through this a few weeks ago. United Marine Underwriters allowed me to get an in-water survey for a liability-only policy required by the marina. The policy premium is $326/yr.

prowlersfish · Post by **prowlersfish** » Thu Oct 13, 2011 11:04 pm

BlueBelle wrote:I went through this a few weeks ago. United Marine Underwriters allowed me to get an in-water survey for a liability-only policy required by the marina. The policy premium is $326/yr.

Make sure it covers spills

Skargo · Post by **Skargo** » Fri Oct 14, 2011 12:18 am

My F30 is on the hard now. I always carry proper insurance on the water, I have the 800K coverage for spills on my Nova, and will on this as well.
I wonder if I insure it for a $1000 value, if they would require a survey?

alexander38 · Post by **alexander38** » Fri Oct 14, 2011 4:13 am

BlueBelle wrote:I went through this a few weeks ago. United Marine Underwriters allowed me to get an in-water survey for a liability-only policy required by the marina. The policy premium is $326/yr.

that's who I use , and I've been happy so far.

bkwesq · Post by **bkwesq** » Fri Oct 14, 2011 4:49 pm

I called BoatUS they did not need a survey for my F25. However, they would only insure my boat for $4,000.00 unless I provided receipts for all the work i am doing.

Hope this helps.

Skargo · Post by **Skargo** » Fri Oct 14, 2011 6:22 pm

bkwesq wrote:I called BoatUS they did not need a survey for my F25. However, they would only insure my boat for $4,000.00 unless I provided receipts for all the work i am doing.

Hope this helps.

I've been hearing if you insure it for less than $4K you might not need a survey, we'll see.

My other boat is insured through them, and they would only do an agreed to value of $4500, and they let me do a "self survey."

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