Essential pre purchase or even pre survey checks

[IanCC]

Now please tell me what Insurance Co does not have traps !!
I related my personal experience of Insurance trying to use a previous claim against me to void the later ... they will use anything they can to get out of a claim ... whether its self declaration or 'Independent Surveyor' .....

Self declaration ... it may help if that term was understood ? It means that I stated what was condition of the craft .. AND made clear that I was completely aggreeable to them appointing a Surveyor to inspect the craft - at their expense. They said thank you and that was not necessary. Its a debatable point - but their declining to inspect the boat means they accept it as in good codition overall.

It is not that different from a Boat Yard letter stating craft is in good condition as far as can be determined.

I always find these Insurance threads 'interesting' ...... talk about Doom and Gloom !! No wonder so many newbies to the boating world are lost in it ..

A friend hit a big rock fast just a few days before getting married to co owner. Insurance said will it sink? No, he said. They said "forget about the boat, go on your honeymoon". Gets back from honeymoon, cheque for insured value waiting for them in the post .

 

[Minerva]

A friend hit a big rock fast just a few days before getting married to co owner. Insurance said will it sink? No, he said. They said "forget about the boat, go on your honeymoon". Gets back from honeymoon, cheque for insured value waiting for them in the post .

That’s good service!

 

[xyachtdave]

A friend hit a big rock fast just a few days before getting married to co owner. Insurance said will it sink? No, he said. They said "forget about the boat, go on your honeymoon". Gets back from honeymoon, cheque for insured value waiting for them in the post.

What insurance company was this?

I only know a couple of people that have had claims, none of them went like this, even in the event of a non fault claim - a dredger hitting a boat on mooring in fog incident.

 

[Refueler]

Insurance ?

When my Snapdragon 23 was broken into via forehatch ... the Insurance was a real pain to deal with ...

The person(s) had used my sail bags to carry out gear ... so I lost all sails ... my fishing gear ... loads of stuff.

Boat insurers argued about everything ... claiming that no-one had so many sails on such a boat !! She was a Hanked on foresails and roller boom main ... eventually I managed to comvince them the cheapest solution was to fit furling gear and a 1120% genny. But with regards to anything else - they refused ... not even to pay for repair to the forecabin door / surround that had been kicked through.
But I had a brainstorm ! I contacted my Home Contents provider and they said - yes ... provide us a list of items and we will advise what can be covered. I gave a list with values and they accepted all that Marine a******es refused.
Home Contents actually asked if there were local shops to me that I could get the items ... I gave them the addresses and names and Home Insurance then advised the shops of the maximum amount they would allow me to spend in replacing the gear ..
Shops said - take what you want to the value ..

WOW ... what a contrast.

Few months later - the forestay ripped out of the deck ... the Snapdragon relied on an eye bolt and nut embedded into GRP at the stemhead .. this failed.
While boat was in Coombes Yard on IoW ... same marine Insurance crowd who argued about the previous claim - sent surveyor without my knowing to the boat ... I then received a letter stating that they were now taking action to recover all claim payments from previous and that present claim was void. They accused me of Claimant Fraud.
I found out who surveyed and called them - boy were they surprised to hear from me ...
As Surveyor to Surveyor - I had long chat .. and he admitted that Insurance Co had sent him with instructions to find anything at all to disavow previous claim and present.
He had written a report based on the boat being a Furling Genny boat and that my claim for hanked on sails previously was then false. Second that in his opinion the furling gear itself had been the problem.

What I found incredible was that the Insurance Co did not compare the two claims fully - that they ignored the lack of furling gear in first claim .. they ahd Sea Teach invoices etc for the supply of etc.

The surveyor agreed that given the information now provided that his report was no longer appropriate and I advised Insurance Co that I had communicated with him and he would re-issue his report.

Insurance Broker then refused to communicate any further and referred me to Underwriter.

Underwriters do not like direct communication and in such circumstances as this will revert to Fax .. email of course now .... so for next 3 months - Faxes went back and forth with finally Underwriters decalring a TCL .... Total Constructive Loss ... based on Coombes Yard estimate of repairs. In fact Coombes Yard repairs were extremely reasonable - but of course yard time was accruing and bumping the bill up day after day.
The TCL was turned into payment of estimated boat value to me - and to save Underwriters having to dispose of the boat - ownership was retained by me.
The money then paid for repairs, yard bill. The repairs included modification of stemhead to a traingular deck plate with tang down the stem ... along with vertical part to fix stays to ... far supperior to the original eyebolt affair.

I was not suprised to hear that about a year later - the Borkers had 'ceased operating' ...... but couple of years later - the name was ressurected by some of the previous involved.

 

[IanCC]

What insurance company was this?

I only know a couple of people that have had claims, none of them went like this, even in the event of a non fault claim - a dredger hitting a boat on mooring in fog incident.

GJW or something that sounds very similar.

 

[xyachtdave]

GJW or something that sounds very similar.

I currently have two boats insured with them, so that’s encouraging!

 

[pcatterall]

What insurance company was this?

I only know a couple of people that have had claims, none of them went like this, even in the event of a non fault claim - a dredger hitting a boat on mooring in fog incident.

GJW sorted out our claim and were quite considerate even when we had not quite followed procedure!

 

[doug748]

Insurance for old boats is an odd maybe mystical business.

This season I insured a sailing boat for a bit over 5k, without survey, rigging of an unknown age, engine untested ........ All risks, no fuss at all.

At the end of the season I changed it for something worth 6k, which had a 2023 survey with proof of all main recommendations met plus new standing rigging, new forehatch, new gas system, new running rigging, new furling system - all documented and professionally fitted.
My insurers did not want to know - had to go elsewhere.


On the matter at hand. I think the OP should get a survey for joint ownership of something of that value or will be risking all sorts of trouble.

.

 

[Refueler]

Would it not come down to mitigation of risks ?

With a group / syndicate buying and owning a boat - then group decision to have a survey by an independent agreed by all would then remove any later possibilities of blame / accusations to any member should the sh** hit the fan ?

To me - its not so much condition of boat - which of course is important - but the removal of any bias / blame later ??

Even the best of friends can fall out ...