Is it possible to get boat insurance without getting the boat
surveyed?

Yes
I have had 2 boats
they asked for an "in water" survey and I never got around to it



On Thu, 03 Jun 2004 08:49:18 GMT, steve wrote:

Is it possible to get boat insurance without getting the boat
surveyed?

Yes
I have had 2 boats
they asked for an "in water" survey and I never got around to it

Was the request in writing?

Did you ever have a major claim?

That's just the type of missing link that
could cause denial of coverage.

"Yes, we accepted your $300 premium for 3 years, but your policy was predicated
on the condition that you would have an in the water survey. Now you have a
$20,000 claim? Here's your $900 back."

(Gould 0738) wrote in message ...
Yes
I have had 2 boats
they asked for an "in water" survey and I never got around to it

Was the request in writing?

Did you ever have a major claim?

That's just the type of missing link that
could cause denial of coverage.

"Yes, we accepted your $300 premium for 3 years, but your policy was predicated
on the condition that you would have an in the water survey. Now you have a
$20,000 claim? Here's your $900 back."

I don't know that they could do that if the policy is in force at the
time of the loss. They would have had to cancel the policy prior to
the loss to deny coverage. They may have done that - if this hadn't
got around to getting the survey, has he got around to reading the
cancellation notice he may have received.

The condition information I had to complete for reinstating the
insurance on my jet boat got lost on its way back to the insurer.
They sent a very clear cancellation notice to notify me that they had
not received it - but the coverage was in force until the effective
cancellation date/time on the notice.

I got mine boat loan and insurance through state farm and they have never
seen the boat.

"steve" wrote in message
news
Is it possible to get boat insurance without getting the boat
surveyed?

I got mine boat loan and insurance through state farm and they have never
seen the boat.

Was it a new boat?

That make a difference between an insurance company asking for a survey, or
not.

If you go through a car insurance company, like State Farm, rather than get a
"yacht" policy it will be easier to insure any boat. Downside is that most car
insurance companies want to depreciate the boat on the same or similar schedule
as a car in case of total loss. Two years old? You might have to settle for
50-60% of original cost. With a yacht policy, you will get a previously agreed
upon "hull value" in the case of a total loss- typically much closer to the
original purchase price.

Ree-Yees wrote:
I got mine boat loan and insurance through state farm and they have never
seen the boat.

"steve" wrote in message
news
Is it possible to get boat insurance without getting the boat
surveyed?

Just a fyi but you may want to ask them (State Farm) what they will pay on
your boat if you have a total loss. I had my boat insured with
State Farm for several years. When I was renewing my coverage,
lets say the amount was for a total of 20k (a number they wanted me to
come up with) I ask if the boat was a total loss would they pay the 20k?

They could not answer that question specifically and I was told that if
at the time of the loss determine the boat was worth 20k or more they
would pay out the 20k. But if they determined it was worth a lesser
amount, say 16k that is all they would pay that. Ok fine, so I ask if
the boat was a total loss today what would they pay, and they could not
answer that question.

Now the boat is insured with Boat US. I have to state I have never had a
claim with either company. And this could very well reflect on the State
Farm Agent more then the company. But I do sleep a little better Having
the "Agreeded Hull Value" clause in my policy boat insurance.

My house and my car are still with State Farm, I just didn't feel
comfortable with there coverage for the boat.

Capt Jack R.

Oh no. They asked me what I was paying for the boat ($4500) and they asked
me how much I wanted to insure it for, so I said $4500. Nada lists it for
$5500. I guess they would probably try to screw me if I sunk the boat.

--C

Just a fyi but you may want to ask them (State Farm) what they will pay on
your boat if you have a total loss. I had my boat insured with
State Farm for several years. When I was renewing my coverage,
lets say the amount was for a total of 20k (a number they wanted me to
come up with) I ask if the boat was a total loss would they pay the 20k?

They could not answer that question specifically and I was told that if
at the time of the loss determine the boat was worth 20k or more they
would pay out the 20k. But if they determined it was worth a lesser
amount, say 16k that is all they would pay that. Ok fine, so I ask if
the boat was a total loss today what would they pay, and they could not
answer that question.

Now the boat is insured with Boat US. I have to state I have never had a
claim with either company. And this could very well reflect on the State
Farm Agent more then the company. But I do sleep a little better Having
the "Agreeded Hull Value" clause in my policy boat insurance.

My house and my car are still with State Farm, I just didn't feel
comfortable with there coverage for the boat.

Capt Jack R.

In most cases, insurance companies will require some kind of a current survey
for boats 10 years old or older. The survey performed is not necessarily the
same as a "buyer's" survey, and could be as simple as "in water" survey or even
a "self" survey with pictures of the hull, fuel tank(s), electronics, and
engine(s).

As a rule, boats less than 10 years old do not require an "inusrance" survey.





"Listen to the live broadcast of 'Nautical Talk Radio' with Captain Lou every
Sunday afternoon from 4 - 5 (Eastern Standard Time) on the web at
www.959watd.com or if you are in Boston or Cape Cod set your radio dial to
95.9FM.

steve wrote in message . ..
Is it possible to get boat insurance without getting the boat
surveyed?

Yes. Depends on the boat as to whether you may even be asked for one.
If you are talking about a trailered boat, they likely wouldn't ask
for one. The two companies I have used for mine only asked for a
couple of photos for their file.

On a larger boat, they *may* want a recent survey. On my cruiser, I
gave them a copy of the survey I used when I bought it three years
ago. They have not asked for another one since.