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Default Coal tar for bottom of steel hull?

Hi,

I'm considering buying a houseboat with a steel bottom. New steel
was put on 4 years ago, and treated with coal tar epoxy, supposedly.
I was told that the coal tar treatment will last for a long time. Can
anyone tell me if the coal tar treatment is really good for a long time,
like 30 years or something? If it is, then why doesn't everyone use
it? It it's not, then how long is it good for, what to do, and when, in
the future?

Thanks for any help!
David
 
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