Insurance Value Survey

aero3113

My insurance is calling for a survey for 2025 renewal. The boat will be out of the water and shrink wrapped when it’s time to renew. If I had a survey done before I pull it out of the water this season, can I use that survey for 2025?

captkevin

Don't they want to do the survey while boat is out of water?

YYZRC

My insurance requires a "lean" survey for boats over 15 years old, not nearly as detailed (or costly) as a pre-purchase survey.

Ian

Mine don’t under 50’

aero3113

@Ian, who do you use? 

Ian

Allstate. They do all mine and coverage is excellent.

aero3113

I’m with Seainsure now. Does Allstate cover mechanical failure? Supposedly Seainsure does but not sure how good it will be if needed.

Ian

Hit a log and take out a drive - yes. Break a con rod no but I don’t think others cover that either.

Aqua_Aura

Interesting. Policy does say they cover mechanical breakdown, I would be interested to see some examples and reviews from other customers. 

Willhound

In my experience mechanical break down means that they will cover the cost of tow/recovery of the vessel and some $$ for transportation, rooms, meals to get you home if on a cruise. Not the cost of mechanical repairs caused by failure. 

aero3113

I spoke to SeaInsure, the mechanical break down coverage is for boats 15 years or newer. If you have paperwork showing you have engines newer than the boat they would send it to the underwriters to update the policy.

aero3113

I also found out that my survey isn’t required till September of 2025. So I have some time and will get it done next season if I stay with them.