Yacht survey for insurance purposes

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Crinan12

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Hi
My insurer (gjw) says they need a 'full out of the water survey' prior to my next renewal (last survey done nearly 10 years ago)

Is this standard or would other insurers maybe not insist?

What is a survey likely to cost? 28ft sailing yacht, based near oban when out of water

Thanks
 
You may get insurance elsewhere without a survey, but I found that cost more.
I paid £400 for a pre-purchase survey.
Insurance survey might be a bit less, and if the surveyor can do it at his convenience anytime over the winter, you might get a better rate?
Just get some quotes from the nearest, and if the boat is in the water, don't forget the cost of getting the boat lifted and the organisation needed to get surveyor, yard and weather to co-operate.
It helps to have receipts on hand for things like rigging replacement.
 
Crinan12,

I was with GJW and had the same provision in my policy. In May this year I queried this as I had had a previous survey only 10 years before. In response they said 'We only ask for a survey once the vessel is 30 years of age so you can upload the [previous one] for us to review'. I pointed out that they had been sent the report before and quoted their reply confirming it was fine. This seemed to satisfy them. Since then I have moved to Bishop Skinner - before I took out the policy with them I asked about the survey position and what they would need. They said that they were happy with my previous survey and would not need another one just now. So I'd suggest you take the same tack and save yourself from the cost of a survey. If you PM me I'll give you etc names of the people I spoke to.
 
Pantaenius insurance allowed me to do a self-survey. I sent quite a few pictures and a summary of work done over the last few years including receipts for standing rigging. I think the premium was marginally higher but the difference was considerably less than a full survey. However, I think this may have been because they took over Yachting 24 (who I was with previously and who didn't require a survey) following their decision to pull out of UK sailing insurance. I shopped around at the time and all other insurers wanted a full survey.
 
Pantaenius asks me for one every 10 years. It is useful to have, as it mean you have evidence of the condition of the vessel, should you have a claim. No survey means that they may claim for excessive wear and tear and write down the value of the pay out. Keeping a full record of work done, receipts and maintenance may protect against this.
 
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pyrojames said:
Pantaenius asks me for one every 120 years. It is useful to have, as it mean you have evidence of the condition of the vessel, should you have a claim. No survey means that they may claim for excessive wear and tear and write down the value of the pay out. Keeping a full record of work done, receipts and maintenance may protect against this.
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I do plan to have one done but wasn't ready this year. I do have a very detailed inventory of work with receipts for everything. There is a standard deduction on the cost of replacements which I think is about 30% against new but that doesn't include the hull and infrastructure which is excluded from any deductions. I will get a survey done when the boat is next lifted. p.s did you mean 10 or 12 years?
 
Little Dorrit said:
I do plan to have one done but wasn't ready this year. I do have a very detailed inventory of work with receipts for everything. There is a standard deduction on the cost of replacements which I think is about 30% against new but that doesn't include the hull and infrastructure which is excluded from any deductions. I will get a survey done when the boat is next lifted. p.s did you mean 10 or 12 years?
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My bad. I meant 10 years. Now edited.
 
I have just had an insurance survey on a 40 year old boat. Pretty standard insurance requirement now with the usual cut off point of 30 years old or no survey within 10 years. £400 is going rate and little different from a pre purchase survey in what it covers but does not go into defects that might affect the value that can be used in negotiation. Very useful to be with the surveyor as he is doing it. The boat is currently ashore and in commission insurance is subject to dealing with the "non cosmetic" recommendations. The tricky one is rigging where the report will say something like "no visual defects seen, but rigging should be inspected before launching". Sounds inocuous until you try and get a qualified rigger to inspect and report without recommending replacement unless you have evidence the rigging is less than 10 years old. Upshot is expect to replace the rigging - materials around £ 800-1000 and labour £500+ to do the whole job including stepping and setting up.
 
I have not had a survey since 2002 yet I have had fully comp insurance continuously since then.

I am with Noble Marine Ltd (arranged through broker Richard Walton-Gould). They have accepted self-certification.

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My boat is 54 years old and is insured for £15,000.
 
Wing Mark said:
Noble wanted a higher premium, so the survey pays for itself in my case.
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Last year my premium was £163.80, fully comp., Brest to Elbe, no single-handing restrictions.

Arranging a survey for my boat, which is kept in France, without me being there would have been a nuisance and cost me a few hundred pounds so I am very happy with Noble Marine.
 
When GJW asked me for a survey I questioned them as it was more expensive than the annual premium and they agreed to a further 2 years until it was required. That was about 5 yrs ago and yacht insurance has changed dramatically since then so they may no longer be as flexible
 
Tranona said:
Sounds inocuous until you try and get a qualified rigger to inspect and report without recommending replacement unless you have evidence the rigging is less than 10 years...
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Not trying to be Rsey but genuinely interested if there is such as thing as a qualified rigger. When I skippered for a large charter Co. we did the pre-season rig inspections after a 10 minute chat with a Greek engineer. I'm not aware of any formal rigging qualifications. If they exist I'd be interested in obtaining them.
 
Crinan12 said:
Hi
My insurer (gjw) says they need a 'full out of the water survey' prior to my next renewal (last survey done nearly 10 years ago)

Is this standard or would other insurers maybe not insist?

What is a survey likely to cost? 28ft sailing yacht, based near oban when out of water

Thanks
Click to expand...
I have now had three insurance surveys whilst with GJW. The surveyor did turn up some items that I wasn't aware of which was helpful and I attended to them all. It also meant that when I had a claim for £9.5k of damages against an agreed value of £10.5k, GJW didn't query a single item. They dealt directly with the boatyard carrying out the repairs.
 
Poignard said:
Last year my premium was £163.80, fully comp., Brest to Elbe, no single-handing restrictions.

Arranging a survey for my boat, which is kept in France, without me being there would have been a nuisance and cost me a few hundred pounds so I am very happy with Noble Marine.
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What kind of boat have you! I paid 765euros for that cover?..and thought I was doing well...and that was with new rigging and a survey from a year earlier...?
 
Poignard said:
Last year my premium was £163.80, fully comp., Brest to Elbe, no single-handing restrictions.

Arranging a survey for my boat, which is kept in France, without me being there would have been a nuisance and cost me a few hundred pounds so I am very happy with Noble Marine.
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That's about the same as my premium pro-rata, again with no single-handed restrictions... which is good to know :)
 
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