Recurring Insurance Survey

[imagine30]

Recently rec'd our insurance renewal package from Markel American Insurance Co. In addition to a rate increase, they informed us that they will require a hauled out survey to be conducted and submitted to them prior to renewal for the 2015 season. That would be our 5th year with Markel. We had provided them with a our purchase survey when we signed up with them originally. Upon further inquiry with Markel, I was informed that they require a survey every 5 yrs on boats older than 10yrs and such was an industry standard.

I have owned boats all of my adult life and all of them have been older than 10yrs when I purchased them. Aside from the initial survey I have never been required to provide additional surveys. I'm curious as to what other AOG members experience has been regarding follow-up surveys .

[Jay Knoll]

You might consider dropping the value of the hull insurance until it falls below the threshold for a survey. That is, if you are willing to "self insure" in case of a total loss. When we bought our 27FC we didn't do a survey, we wanted liability only coverage but the marina we are in required hull insurance. So our agent calculated at what level of coverage a survey wasn't necessary. It wasn't zero, so we have some coverage in case of a total loss, and that met the marina's requirements

Jay

[jleonard]

I just had to go thru a re-survey in November for BOAT US. It was "free" to me, but they wanted it done in the water because they got a new carrier. However the boat was already hauled, winterized and shrink wrapped. They accepted that (because they needed it done in 10 days) and the surveyor did what I would call an "armchair survey". It was 95% questions read off their forms, mostly an inventory of items and equipment.
He took a cursory look in the engine room, only because I had the hatch off.
He pointed out one defect (twist type splices), no CO detectors in the sleeping areas, and no fire extiguisher on the flybridge. Thos items I had to correct which I have done, but I told BoatUS they would be done prior to MAy 1 because the boat was hauled.
They accepted that.

He also wrote me up that a copy of Chapman's guide was required to be onboard, but BoatUS didn't cite me for that. (I have a copy at home and it is NOT a requirement to keep on board ...or to even read for that matter). Yes the surveyor is an idiot IMO

I hope your survey goes as easy as mine.

[eseyoung]

I have full coverage with Progressive. The extent of the survey was me checking a box that the vessel was adequately maintained and seaworthy. I am not sure what the going rate for a 27FC is with other companies but we are $700/year. The hull value I gave is 16,000 and 4,000 for her trailer, for a total value of 20K. 300K liability and a 500 deductible for losses.

i may have been able to save a few $$$ somewhere else but it was easy...all online and no strings with a survey or other hassles.

[RobS]

I understand that prudent owners like us would find this as an annoyance and waste of time but remember that not all boat owners are created equal. If this is done at the carrier's expense there are a lot of "less informed" owners that could benefit, which is a benefit to all.. Maybe they should do a 5 minute phone survey first and then draw a conclusion that this owner either does, or clearly does not, know his sh$t...

[eseyoung]

Very true, I was under the impression that at least in the OP's case the survey was done on his dime. Which would include a haul out and sling time and/or blocking. Not a huge expense but a unnecessary one.

If its on their dime they can come look at every year if they want...maybe it could even be worked to save you a haul fee if you have other work needing done.

[RobS]

...I was under the impression that at least in the OP's case the survey was done on his dime....

I see your point, not sure. I just remember Jay telling me about the one done on his boat as the carrier's expense.

[glk34]

We just received our insurance bill last week and it stated that an out of the water survey is needed before launching. Our boat an A25 1970, just had a survey only 4 yrs ago. I questioned my insurance broker and they checked with the company and because of our vessels age, we now need a survey every 3 yrs. I am not too happy about handing over $300 every 3 yrs for this. My boat gets the best of care and is likely more seaworthy than a lot of the newer boats which have much lighter glass and much more complex systems. I thought every 5 yrs was fair.
Has anyone else had the 3 year survey requirement?

Chris
"Iron Jack"

[jleonard]

I told BoatUS they would be done prior to May 1

It will be interesting to see if I get a letter from BoatUS asking for proof that I made the changes.

[DesertAlbin736]

Just purchased $500K liability policy from Safeco, which also insures our home and vehicles. Somewhat more expensive that BoatUS since the agreed upon value is higher than normal for an old boat. No survey required, but had to send in recent photos of interior & exterior of boat on the trailer. Liability also becomes comes under our $1M umbrella policy & covers fuel spills. Had to go with $500K vs $300K because of the umbrella policy. But prices are reasonable. Even USAA can't beat their rates. Liberty Mutual is the Co. they broker for.