Short Sighted Insurers?

[Medskipper]

Just received my renewal quote for my 1984 Birchwood 37. I thought I would check around to see if my insurance company were competitive!

None of them want to know unless I have a full survey done on her because shes 20 years old! now bearing in mind thats probably going to cost about £700. there is no point in changing my current insurer for another company that might be 50 quid cheaper!

There must be thousands of 20 year plus vessels out there that are in excellant shape! if it was a 20 year old car I could understand it, but in my long experience of boating its condition not age that counts! I guess they just don't need the business, just wait until half the boating community packs it in because of the hike in diesel costs, I bet they won't be turning away business then!

Barry




<hr width=100% size=1>I just want to retire with my boat to the Med!

 

[tcm]

Re: what about you doing the survey?

could you not list the equipment and condition, do an inventory, do a load of piccies of boat ashore and call the document "survey/inventory list"? That would be a load better than most surveys imho?

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[Deleted User YDKXO]

Whether it's age or condition how is the insurance company going to assess either without a survey? Fact is that there are some 20yr old rustbuckets out there which will be a bigger risk than your boat so how are they going to tell the difference? Would you be happy if your premiums were going towards paying out on boats less well maintained than yours?

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[Bejasus]

also just enquired via insurance brokers and got 2 reasonable quotes. One required haul out and survey and the other said they would be happy with condition report from my boatyard. Boat is 40 yrs old.

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[BarryH]

My insurers want a survey now too. They said it needs survey. I asked who do you want me to use. "we'ev got no list of approved surveyers so use anyone near you was the answer. So as far as I can see they have "no list of people to use". Which to my mind when they said use anyone near me. I'm going to get my bruvver to do it.....he's anyone near me.

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[Jinks]

Quite right - unless you need to make a claim. We can all tell stories of how insurance co.'s try to dodge claims; be careful you're not giving them a ready made excuse.

Further lessons on how to suck eggs are available on request!!

<hr width=100% size=1>Of all the things I've lost - I miss my mind the most!

 

[BarryH]

Ah but, yes very true, but they've put nothing in writing and they said use "anyone". That could be you, my 5 year old daughter or even my grandmother, if she were alive. They need to clarify who the "aqnyone" should be. From doing a bit of googly searching I could set up in business as a surveyer after lunch.

What are the quals or endorsements or pro body you need to belong to, to become a bonfide looker at boats anyway?

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[Jinks]

Well, essentially you would have to have

BFK (Bachelor of Fender Kicking)
Dip. WLD (Diploma in water leak detection).
ENR&A (Engine noise Recognition and approval)
Cert. LAPSL (Certificate in Looking at Propellors, Shafts and Legs)
FLEOTCIO (Feeling and Looking at Engine Oil to check it's OK)

These, I'm sure you'll appreciate, are just the basics and there are other desirable though not essential areas such as ECFHH (Expertise in Checking for Holes in Hulls) which may help although some schools believe this is covered adequately by your Dip. WLD.

The good news is that all these qualifications can be obtained through self-assessment.

<hr width=100% size=1>Of all the things I've lost - I miss my mind the most!

 

[milltech]

An insurance survey must be a very different thing to a condition survey for a prospective purchaser. All the little cosmetic faults that the surveyor may find to help you reduce the price take time to find, but is "this horse fit for work" is a much shorter job, (especially when they decline to check or be responsible for engines, electronics, fittings etc.). It's thinking ahead to the pay-out end that is so important.


I would worry about anyone doing the survey who did not ply for hire as a surveyor if only because it might give the insurance company an opt out. I didn't have to supply a survey for my policy with Kendall Becker, and that for a 43 year old wooden boat, though being a lifeboat she is the proverbial brick shed, but claims experience I fortunately don't know about.

I would think the biggest cost will be slipping, so try and arrange a policy that starts and finishes just before your annual antifouling, and see which surveyor will give you the best deal.


<hr width=100% size=1>John
http://www.on-line-marine.com

 

[Althorne]

Absolutely right Barry. When I bought my boat my £350 survey consisted of me arriving to sail her home to find all sea cocks stuck closed, steering cable almost seized, a hifi speaker situated in a bulkhead forward of the compass which pushed it 70 degrees out, the toilet blocked with someone else's doings, and a clean bill of health certified for the insurance company. If the surveyer actually went to see the boat I'd be very surprised. Spent ten days working on her just to get her home safely. Then found out he wasnt insured and was still on the Yacht Surveyers Ass' list as reputable.
Will do my own survey next time. At least it will be honest.

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[apollo]

When I bought my boat (Princess 37) and trawled the insurers at London show about three years ago,Haven Knox Johnston said that if it was less than 25 years - no survey was required and they would promise no further surveys as long as you stayed with them.

Have you tried them?

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[Nauti Fox]

Mines 32 years old and requires a survey every 3 years.GJW.
Al.

<hr width=100% size=1>No dear,the water goes in the other one.

 

[Medskipper]

Yes they are my current insurers! price is ok as well, I just wanted to make sure that I keep in touch with the market! Its quite normal for insurers to up the prices if you stay with them a few years! In fact I've been quoted almost £100. less by the Trafford group but they want a survey which will cost £700. so its not worth the bother changing companies!

Barry

<hr width=100% size=1>I just want to retire with my boat to the Med!

 

[Medskipper]

Yes, point taken! But in almost 20 years of boating most owners I have met really look after their pride and joy! lets face it if you are going to trust it with your life at sea it is in your own best interest to make sure its in good condition! but I know what you are saying!

Barry


<hr width=100% size=1>I just want to retire with my boat to the Med!

 

[Medskipper]

Re: what about you doing the survey?

I don't know! but I guess I could ask a few insurance companies. I think they will insist on a bona fide surveyor though!

Barry


<hr width=100% size=1>I just want to retire with my boat to the Med!