Older boats, insurance requirement for a hull survey

[Ricco1]

I'm considering buying a boat that was built in 1981. I know that some insurers, if not all, need the boat to have a satisfactory hull survey.

 

Maybe it varies but generally, how recent would a survey need to be, to be acceptable to the insurer?

 

Thanks.

[Tuscan]

If you want fully comp then often every 5 years but if third party no problems

[MyLady]

I'm considering buying a boat that was built in 1981. I know that some insurers, if not all, need the boat to have a satisfactory hull survey.

 

Maybe it varies but generally, how recent would a survey need to be, to be acceptable to the insurer?

 

Thanks.

 

Get a survey done before buying (you know it makes sense!) If you do, the survey'll be brand new, so acceptable to any insurer (if it isn't satisfactory, either get the vendor to rectify the problems, or don't buy a rotten hulk).

 

Once the boat is yours, you'll want to maintain it properly, so a hull survey is something YOU'll want periodically as a tool to prevent the boat sinking, won't it?

 

Incidentally, a FULL, rather than just a hull, survey can potentially reveal other problems that you will need to know about before spending those tens of thousands...

 

If I'm any guide, you'll want to spend far more than the cost of a survey on 'tweaking' things that you want to improve, so it's false economy to try to save the cost of a survey, which can reveal things that would make you run screaming away from buying that boat.

 

"Look before you leap."

 

Roger

[Dekazer]

Our insurer (craftinsure) require a survey within the last five years. As mentioned, it's a good idea to have one done periodically anyway as an owner.

A full survey before buying a boat of that age would be advisable too. Could save you a lot of money in the long run

Edited April 17, 2014 by Dekazer

[Ricco1]

Thanks for the advice. My strategy is not to have surveys. I have several buy to lets and a narrowboat, none of which I had surveyed. It's risky of course, but I consider the worse case scenario. It might be a new roof on a house, a full overplate on a boat. If I can afford that I'll take a chance without a survey. I'm sure I'll come a cropper one day, I expect that. But if I'd had decent surveys done on everything I own I would have spent in excess of £5,000.00 having them done. So that money is there to put things right, if I buy a pig, which I haven't so far.

 

Having said that I do call on expert advice from friends, who are nicely reimbursed with beer.

 

This particular boat has 2 surveys available. One from 8 years ago, one from 3. It's already been (mostly) overplated and the surveys show decent steel thickness. It's a day hire boat so there's not much of a fit out to worry about.

 

I know many (most?) people have a more cautious approach and I wouldn't try to convince anyone that my way is best. But, I'm sure it's best for me.

Edited April 17, 2014 by Ricco1

[Dekazer]

Thanks for the advice. My strategy is not to have surveys. I have several buy to lets and a narrowboat, none of which I had surveyed. It's risky of course, but I consider the worse case scenario. It might be a new roof on a house, a full overplate on a boat. If I can afford that I'll take a chance without a survey. I'm sure I'll come a cropper one day, I expect that. But if I'd had decent surveys done on everything I own I would have spent in excess of £5,000.00 having them done. So that money is there to put things right, if I buy a pig, which I haven't so far.

 

Having said that I do call on expert advice from friends, who are nicely reimbursed with beer.

 

This particular boat has 2 surveys available. One from 8 years ago, one from 3. It's already been (mostly) overplated and the surveys show decent steel thickness. It's a day hire boat so there's not much of a fit out to worry about.

 

I know many (most?) people have a more cautious approach and I wouldn't try to convince anyone that my way is best. But, I'm sure it's best for me.

 

I can see why you wouldn't bother, and I can see why insurance companies would require it of you and everyone else. Otherwise I expect they'd end up with quite a lot of very old neglected hulls that could turn into expensive claims.

 

I always recommend surveys for people who don't know boats (or don't have boaty friends), or people who don't have enough cash to sort out large problems when they are discovered. For newbies or those on a very tight budget, a survey can identify problems that could otherwise prove ruinously expensive. There was a poster here a while back whose son was possibly going to lose his boat because the hull was shot - couldn't afford to fix, couldn't sell. Nightmare.

 

Good luck with the new boat though

[Woodstock]

Our insurer (craftinsure) require a survey within the last five years. As mentioned, it's a good idea to have one done periodically anyway as an owner.

 

A full survey before buying a boat of that age would be advisable too. Could save you a lot of money in the long run

Is it boats over 25years that Craftinsure ask for a survey-ours is 24 this year so might need a survey next year

[Traveller]

Haven don't ask for a survey - or they did not ask me (although I did have one done)

Edited April 17, 2014 by Traveller

[Machpoint005]

Is it boats over 25years that Craftinsure ask for a survey-ours is 24 this year so might need a survey next year

 

Thanks Woodstock -- saved me having to look it up (or ask)! At 19 years old our hull has a while to go, then.

[junior]

If its a day boat available for hire then I presume you will need different insurance to what most people have on this forum, therefore the answers you get may be based on private insurance policies. Best bet would be to ring your current insurance company and ask them.