Insurance Surveys - are they necessary

kunyang

kunyang

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So, I've had Kunyang for eleven years now, and have been advised to have a survey by my insurers. She's only worth £10,000 - £12,000, and she'll be on sale at the end of the year.

Is there any insurers out there who would'nt need a survey? Having bought a new engine, new gas and cooker (coming shortly), she's in pretty good nick. Don't really want the hassle of a survey now, as I would need to lift her out, etc, which wasn't the plan this year.

Advise please.

Dave
 
I doubt any insurance company will insure a boat without a recent survey but many will insure third party cover without .
 
kunyang said:
View attachment 29419

So, I've had Kunyang for eleven years now, and have been advised to have a survey by my insurers. She's only worth £10,000 - £12,000, and she'll be on sale at the end of the year.

Is there any insurers out there who would'nt need a survey? Having bought a new engine, new gas and cooker (coming shortly), she's in pretty good nick. Don't really want the hassle of a survey now, as I would need to lift her out, etc, which wasn't the plan this year.

Advise please.

Dave
Click to expand...

search facility will give you chapter & verse
 
I had this several years ago with an older boat and questioned the need. The insurers agreed it wasn't necessary and just said send us 3 recent photos of the boat from different angles instead. Can't remember which insurers now but it is worth a phonecall to your insurers to ask about alternatives - some will also accept a "boatyard report" to confirm that the boat is regularly maintained and seaworthy.
 
l'escargot said:
I had this several years ago with an older boat and questioned the need. The insurers agreed it wasn't necessary and just said send us 3 recent photos of the boat from different angles instead. Can't remember which insurers now but it is worth a phonecall to your insurers to ask about alternatives - some will also accept a "boatyard report" to confirm that the boat is regularly maintained and seaworthy.
Click to expand...

Yup, same for us. Our renewal was due recently and after a very polite swapping of emails a few photos and a bit of maintainence history were perfectly acceptable. Surveys and lift outs arent cheap!
 
I was given a 12 month extension by GJW who, after this, `insisted on a survey. I then moved to HKJ who told me explicitly that a survey would not be required as long as I continuously insured the boat with them. Some doubt has been cast on this in this thead [URL="http://www.ybw.com/forums/showthread.php?347929-Insurance-survey&p=4015222&highlight=#post4015222"[/URL], but I've never found out why and I've sold the boat so it doesn't really matter.
 
My boat is 17 years old and my insurers have said the first survey will be at 25 years old.
kunyang said:
View attachment 29419

So, I've had Kunyang for eleven years now, and have been advised to have a survey by my insurers. She's only worth £10,000 - £12,000, and she'll be on sale at the end of the year.

Is there any insurers out there who would'nt need a survey? Having bought a new engine, new gas and cooker (coming shortly), she's in pretty good nick. Don't really want the hassle of a survey now, as I would need to lift her out, etc, which wasn't the plan this year.

Advise please.

Dave
Click to expand...
 
My insurers didn't want a survey, but as it is a 30 year old 21ft boat worth about £5000 total including a new outboard that may be why!

Dennis
 
kunyang said:
View attachment 29419

So, I've had Kunyang for eleven years now, and have been advised to have a survey by my insurers. She's only worth £10,000 - £12,000, and she'll be on sale at the end of the year.

Is there any insurers out there who would'nt need a survey? Having bought a new engine, new gas and cooker (coming shortly), she's in pretty good nick. Don't really want the hassle of a survey now, as I would need to lift her out, etc, which wasn't the plan this year.

Advise please.

Dave
Click to expand...

Explain that you only want a further year with them and they will probably waive the requirement. However, shop around and you will find insurers that do not require a survey. You may well find that just telling your current insurer you intend not renewing will result in a change in policy. Insurance is a competitive business and if you have been loyal with them and have not had a claim they will want to keep your business.
 
try a broker.

I'd been with N&G for my old boat (never asked for a survey on renewal). When I changed boats they asked for an out-of-the-water hull condition survey on the new one. I was not prepared to do this and shopped around via brokers and ended up with....N&G! Cheaper quote and no survey required. :confused:

Anyway, I mentioned it on here and someone suggested that it could be because the broker has a good relationship with the carrier with better/easier terms. Anyway, not complaining. Got better terms and conditions in the end.
 
sailorman said:
But not acceptable/ binding to a prospective buyer as "its not the buyers survey"
as the OP intends to sell at the end of the season its a waste of money,either talk to his insurers or change to a Co that does not req a survey.
Click to expand...

Agreed its not a buyers survey but a lot of people who buy boats at the lower end of the market do not bother with a survey so this could add value plus the boat will not need an insurance survey for 7 years.
 
Yachting 24, underwritten by Pantaenius (v good rep.) will insure you fully comp without a survey. I pay £150 odd for my 40 year old Vega. Couple of reports of good claims handling on here as well. Third party available onling for about £90, e.g. basic Boat...
 
Thanks guys, she's 40 years old now, and I will be lothe to let her go, but we are going larger, but I have a couple of years to sell her. If anyone is interested in a good Halcyon clipper, new engine, new gas installation and cooker, and a great safe roomy little cruiser that has slept 4 adult and 2 kids (nearly in comfort, well at least we all had a bunk!), let me know.

Dave
 
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