Insurance 3yr. survey

dvx216

Well-Known Member
SILVER Sponsor
Feb 1, 2012
2,692
Catawaba Island/Orrville,Oh.
Boat Info
340 Sundancer 2001
Engines
8.1s 370 v drv.
So I just got a letter from NBOA that the insurance company that insures my boat has required a survey before March 2020. Is this common.
 
Yes, on older boats. The requirement varies by the company as to when and frequency....NBOA is your agent, not your insurer. You might try shopping your policy to a local agent if you want to avoid the survey.
 
The company that NBOA has me with got the first survey, they accepted the pre-purchase survey, in December of 2016 and they notified me that they will need another one by the fifth anniversary of the policy in December of 2021.
 
Yes, on older boats. The requirement varies by the company as to when and frequency....NBOA is your agent, not your insurer. You might try shopping your policy to a local agent if you want to avoid the survey.

That’s my plan! I’ll see if a local broker can save me from spending that money.
If I wind up needing to pay for an insurance survey then I’m going to be shopping around with it.
 
The underwriter with NBOA required an out of water survey a few years back. Thre general rulling for the underwiter, was that boats over 15 years old need a survey every 5 years . I shopped around and found that even with the cost of a survey, NBOA beat the competition.....I winter the boat on land, and coordinated with my surveyor to inspect the boat across 2 different days.

I am currious if anybody had any bad experiences or blowback as a result? Like needing to lower the agreed value coverage.
 
The underwriter with NBOA required an out of water survey a few years back. Thre general rulling for the underwiter, was that boats over 15 years old need a survey every 5 years . I shopped around and found that even with the cost of a survey, NBOA beat the competition.....I winter the boat on land, and coordinated with my surveyor to inspect the boat across 2 different days.

I am currious if anybody had any bad experiences or blowback as a result? Like needing to lower the agreed value coverage.

Good to know.
 
The underwriter with NBOA required an out of water survey a few years back. Thre general rulling for the underwiter, was that boats over 15 years old need a survey every 5 years . I shopped around and found that even with the cost of a survey, NBOA beat the competition.....I winter the boat on land, and coordinated with my surveyor to inspect the boat across 2 different days.

I am currious if anybody had any bad experiences or blowback as a result? Like needing to lower the agreed value coverage.


I've been around Sea Ray boats and in a marina catering to the 35-60 ft recreational boating crowd for about 35 years. We've seen a few boats rejected for coverage after an insurance survey. The reason was always the condition of the mechanicals, unsafe condition of water or exhaust hoses, poor wiring done by a DIY'er who had no clue, or just plain unsafe boats. In every case I had the opportunity to see, neither you nor I would run the rejected boat in water deep enough that you couldn't walk home if it sank. In every case, the insurance company gave the owner the opportunity to have the boat brought up to safe operating condition immediately, without a rejection letter, by the dealer who handled the haul out. If the boat left the boat yard, we never knew what happened.

Also this is a common situation on older boats. So common in fact, that the service manager at our dealer/marina has 2 lists of surveyors........an insurance or sellers survey list and a buyer's surveyor list . You don't want a buyers surveyor doing your insurance survey because they don't miss much.....they are also very busy and are hard to get without waiting.
 
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The surveyor I hired had nothing but praise for the condition and the maintenance upkeep (of course haha). The report was favorable to hand over to my insurance company. My only gripe was the recommendation to have my engine room halon system re-certified. Finding a local that provides this service on original equipment is darn near impossible! Im guessing I was somewhere between a seller and buyer surveyor......
 
The surveyor I hired had nothing but praise for the condition and the maintenance upkeep (of course haha). The report was favorable to hand over to my insurance company. My only gripe was the recommendation to have my engine room halon system re-certified. Finding a local that provides this service on original equipment is darn near impossible! Im guessing I was somewhere between a seller and buyer surveyor......

Who did you find to re-certify the Halon system? I’m still two years away, but sounds like good info to have for when the time comes.
 
Still looking. Everyone wants to sell a system that is 2x the size and half as effective.
That's because there is no halon left anywhere. It got banned a bunch of years ago, but existing inventory was allowed to be sold. Now none left. Your only option now is to buy the tanks with the new chemical (unless you find someone that has been hiding it under their mattress). And as you noted it takes 2-3 times as much of the new chemical to cover the same volume as the halon.
 
Halon. The US military bought it all. None left.
 

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