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Insurance, survey required?
Posted: Thu Oct 13, 2011 7:42 pm
by Skargo
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?
Posted: Thu Oct 13, 2011 7:47 pm
by alexander38
for boats that size ..yes, and your marina will want to see your insurance ..welcome to catch 22..
Posted: Thu Oct 13, 2011 7:47 pm
by captainmaniac
Once it reaches a certain age, yes. Plus they will want an update survey every few years.
Posted: Thu Oct 13, 2011 7:49 pm
by g36
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
Posted: Thu Oct 13, 2011 8:05 pm
by alexander38
[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..
Posted: Thu Oct 13, 2011 8:18 pm
by akwalker
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
Posted: Thu Oct 13, 2011 8:45 pm
by alexander38
that too...
Posted: Thu Oct 13, 2011 9:17 pm
by g36
give me a break
i wasnt serious about not having insurance or i wouldnt have answered his question
Posted: Thu Oct 13, 2011 9:48 pm
by alexander38
Insurance -Survey
Posted: Thu Oct 13, 2011 10:44 pm
by BlueBelle
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.
Re: Insurance -Survey
Posted: Thu Oct 13, 2011 11:04 pm
by prowlersfish
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
Posted: Fri Oct 14, 2011 12:18 am
by Skargo
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?
Re: Insurance -Survey
Posted: Fri Oct 14, 2011 4:13 am
by alexander38
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.
Posted: Fri Oct 14, 2011 4:49 pm
by bkwesq
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.
Posted: Fri Oct 14, 2011 6:22 pm
by Skargo
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."
