Off Topic Out-Of-Water Marine Survey

Duck Soup

Duck Soup

Well-Known Member
R.O.C. (Radio Operator's Certificate)
Does anyone know what this is about? My boat is now 15 years old and my insurance suggests I get this Survey done. I originally insured the boat for the invoice price paid. Now I know that it would cost me a whole lot more than I can afford to replace it with the same model, new. I'm just wondering what I'm getting myself into. I'm sure the insurance company is looking after their own interests and not mine.
 
You used the word suggests. Ask them if they will go halves on the cost since they will determine if they will insure you or not from it. If not then pick another insurance company.
 
They consider your boat high risk regardless of how prisctine your boat may be---the survey is a rippoff of $800 or more--they prove your hull is not coming apart and is it full of water---so---replacement value becomes market value without a survey---and they determine the value, not you,should there be a loss
 
I just got my policy last week.

I have a nice, clean, solid but old boat (1985 Wilker Galaxie fibreglass). They asked for lots of info in a survey, and about a dozen photos of all the important parts. Based on that, they gave me a 3 year period to get the survey done.... it does seem to help that I just restored a lot and cleaned up the wiring etc., plus it has an outboard and portable fuel tanks (they are easy to inspect, no bellows, leaks/problems hiding somewhere).

Not sure I plan to actually do that survey, honestly. Avoiding the problem for a few years is as good as solving it if you ask me. I read the article above and it notes "liability only insurance" is available. When I get to the end of this grace period, I'll call around and see my options...

Shoot me a message if you want the contact for a quote from the same place :)
 
I had to get a marine survey back when my boat turned 15 but wasn't that big a deal. One thing to keep in mind that if you change insurance companies they will require another survey as they won't accept the one you had before coming to them.
 
Wave Runner said:
I had to get a marine survey back when my boat turned 15 but wasn't that big a deal. One thing to keep in mind that if you change insurance companies they will require another survey as they won't accept the one you had before coming to them.
Click to expand...
My boat @Wave Runner that I bought brand new,will be turning 15 next year. So, I am guessing as well,that I will be getting a survey also next year,because my boat will be 15 year’s old? I will read the, A Guide to Boat Surveys for Insurance,in the meantime as well. Thanks in advance. 👍🙂
 
Had the same situation come up last year. My boat is 20 years old and had to get a survey done. For me, it sucked. Based on boats age alone it was undervalued by the appraiser even though appraiser was commenting on the condition.

Long story short is, insurance premium stays same but insures boat for less money and would get a pitance of what boat os really worth in case os an accident. And I keep paying same amount.

Insurance companies suck.
 
I had to get a marine survey for my 16' Skeeter like ten years ago for insurance. The survey went along the lines of "This fibreglass bass boat sits on a trailer 350 days a year and is little more than a fibreglass hull, carpet, seats and a motor. All that stuff is in good shape."

Real waste of money.
 
Hello,

I had a marine survey done on my 24 ft. Hydra-Sports last year and the cost was $500 plus taxes. Please PM me if you have any questions.

Thanks,

John
 
Duck Soup said:
Does anyone know what this is about? My boat is now 15 years old and my insurance suggests I get this Survey done. I originally insured the boat for the invoice price paid. Now I know that it would cost me a whole lot more than I can afford to replace it with the same model, new. I'm just wondering what I'm getting myself into. I'm sure the insurance company is looking after their own interests and not mine.
Click to expand...
yeah my insurance company has made me do surveys on my Grady White 1999, my trimaran 1991 and my Blackjack 2014 . All my boats are in excellent condition are stored in a barn and dry sailed . each survey set me back 600-800 . Insurance basically said no survey ,they wont insure the boats . I know i would never get the money from a claim to replace what i have . A new Grady is 220,000.and the Trimaran would be over 200000 to replace . I just hope never to have a loss you never win .
 
A survey is usually required to maintain the "agreed value" coverage (set amount of coverage in the event of a total loss) instead of market or depreciated value. It can be a hassle but worth it to carry the much better coverage.
 
Duck Soup said:
Does anyone know what this is about? My boat is now 15 years old and my insurance suggests I get this Survey done. I originally insured the boat for the invoice price paid. Now I know that it would cost me a whole lot more than I can afford to replace it with the same model, new. I'm just wondering what I'm getting myself into. I'm sure the insurance company is looking after their own interests and not mine.
Click to expand...
 
Most surveyor's want the boat out of water to inspect for hull issues' among other things. I had my survey done by Capt. Scotty from Windsor way. He came to St. Thomas to do it and spent the better part of the entire morning inspecting every single square cm. of the boat, inside and out,...literally!!! Must have been a 15 page detailer report, much of which was redundant. However, his fees were around the $350 mark which I found to be very reasonable considering his time and travel. So, gave the report to my insurance comp., only to find there are sooo many "grey" areas in the coverage which raised many "red flags", so I dropped them. Went to M.D. Marine on a high recommendation from my many marine clients and never looked back. They are "Marine Ins." people, not home owner Ins. Co. Price was double from what I was paying however, I know I am covered and what I am covered for. Great people to work with. You get what you pay for and this was money well spent.
 
You must log in or register to reply here.
Back
Top
✖
AdBlock Detected

We get it, advertisements are annoying!

Advertising is what keeps Channel 6-8 on the air. To this end, please take a moment to disable your AdBlocker. If you would prefer an ad-free experience, but would still like to help support site operations, please consider making a donation.

I've Disabled AdBlock    No Thanks