Insurance requires another Out of Water Survey

GAJ52

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Reading the small print on my current boat insurance policy, it says it requires another full out of the water survey before renewal in 2020, is this normal ?

Glen
 

DogsBody

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Mine (GJW) said something similar. Last time they asked I pointed out that doing that would cost more than the renewal of the insurance and would likely drive me away to find another insurer. They settled for an owners insurance appraisal - basically me completing a form to state the vessels condition, which they said would suffice for a couple of years. Hopefully they'll do the same next time round too.
 

DogsBody

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Mines GRP also, a Fairline even :D but think its an age thing, after the vessel reaches a certain age insurance companies get worried about its condition for some reason...
 

534l4rk

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I changed to GJW post a visit to Southampton Boat Show some years ago where a pretty young lady advised me that I would pay a much lower premium if I changed to them. I did but on renewal they wanted a boat lifted and surveyed which was soon after I had had the vessel out of the water for anti-fouling. They let me off for that year as I protested but I have gone back to Nav & Gen. who insured me previously and do no insist on regular surveys.
 
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Flynnbarr

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All they want to know is that it's value is more or less what you say it is and that they aren't going to get caught out in the event of a total loss claim.
I circumvented this one year by getting a friendly working boatyard who knew the boat to write a letter stating their opinion of the boats value and that it was fully maintained.The valuation was also increased this way for an increased premium.
 

Wavey

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Y yacht insurance. My insurance is with them and they are mentioned frequently on the mobo forum as having well worded and reasonably priced policies.
Switched from GJW to Y yesterday.

As ICTM said, there has been considerable discussion over on the mobo forum about insurance for quite some time with comments and guidance by some very informed people. As a result of these threads I actually took the time not only to read the policy (as I always do anyway) but to actually take the time to think through thoroughly what is covered and what is not. For me it was a no brainer, Ys cover is far better than GJW and they are also very nice and down to earth people to deal with, and very happy to discuss at length any questions you have. For me they also came out noticeably cheaper than GJW. That wasn't actually the most important point for me as what I wanted was the cover they offered. It was however a nice bonus :)
 
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