Boat Insurance

[Giffo65]

A question for those with older boats and insurance. I went to insure the new boat, a mid 80s Cruisecraft, my insurance company wants it assessed by a marine surveyor before they will insure it as it is over 15 years old. I can't imagine these blokes come cheap,can anyone recommend a insurer that does not require this or is this the norm for all insurers ?.

[fandtm666]

not sure on an insurance company but i have used a marine surveyor while
i was doing my build so i could get a new build plate and it cost me $375.

He is local goldcoast and recommend him so might pay to send him an email
to see what it would cost .


Not sure if its allowed to post the details and if not could a mod remove


Nick Lockyer

0449247525

www.kpsmaritime.com.au (http://www.kpsmaritime.com.au/)

[ozynorts]

Yep Nick would be my suggestion also.

[Malcolm W]

If it's an older boat and not worth that much, consider 3rd party insurance instead of comprehensive. I did that a few years back and didn't need a surveyor on an old boat. I know it's a risk, but a very small one considering the time the average person uses a boat. That is also assuming no finance?

[Giffo65]

Thanks for that will give him a ring, I thought they would be ridiculously expensive ,as anything to do with boats usually is. The boat is worth around 15 K so would want full insurance.

[cala90]

A question for those with older boats and insurance. I went to insure the new boat, a mid 80s Cruisecraft, my insurance company wants it assessed by a marine surveyor before they will insure it as it is over 15 years old. I can't imagine these blokes come cheap,can anyone recommend a insurer that does not require this or is this the norm for all insurers ?.

I had the same problem trying to insure my boat (1980 Swiftcraft Seagull) with Club Marine. Ended up going with RACV, was pretty expensive (around $500 from memory) but they didn't require a condition report.

[stevemid]

When I was looking, one of the ins co's my broker recommended only required a condition report from a reputable person e.g. boat broker or similar. It may pay to call around, ask to speak to underwriting, explain you can't spend $300 for a survey on a 15k boat.
Steve

[thelump]

I take it the boat arrived alright Giffo? FWIW I am insured with QBE. Dont know if they do that but they do require breakdowns of all the bits ie boat, motor, trailer, electronics etc all seperate.

[MrNanks]

I am in exactly the same situation with a 1983 Haines Hunter and I went to RACQ and no problems. Over the phone and done in 15 minutes. I didn't think that it was too dear either. I also got water skiing added and it was $40 for the year. Good luck

[EdBerg]

I had the same problem with my 1988 26ft boat. Ended up with Nautilus marine who only require an value inspection report from a commercial boatyard to verify that the boat was worth what I was was asking as the insured value, so took it to a boat yard did the valuation report which didn't cost me anything. Some of the insurance companies I would now avoid like the plague after all the bulls..t and conditions that they wanted to put me through.

For example; the boat I bought needed a complete refit, nothing structural was needed to the shell just new internal refit and a new trailer to carry it, as I had moulded up the fiberglass live bait tanks/seat bases and installed them, they wanted an engineers report on the whole boat because I wasn't a registered commercial boat builder and I had modified the boat in their view. The new 3.5T trailer I built for about $5500 in materials was according to them still only worth $5500 and that is only what they would insure it for. When I questioned them on their justification of only valuing the material cost they said, that they would now not insure me at all for any value.

So I went with Nautilus Marine who were quite good to deal with, haven't made any claims so don't know how good they will be if I ever do, but they haven't given me any reason not continue with them. Regarding boat surveyors they charge about $20/foot.

Cheers

Ed.

[Giffo65]

Macca
I pick it up after work this arvo.Out to nine mile or Mudhole later this week :)

I have to get a survey report done as it is over 30yrs old (1982 Cruisecraft Explorer 5.7).I have called NIck Lockyer as recommended,$375 for a full report.I called a few insurance agencies,including RACQ,Nautilus and QBE who I insure with now and noone will touch it without a report.

[tropicrows]

Do you need to get a full survey report or just a condition report done. My boat was a 1980 vintage and I had to get it inspected every 5 years. Club marine gave me a list of companies to choose from, one was John Crawford Marine, cost was approx $125.

[Giffo65]

Don't know Tropicrows, I will question the insurance company tomorrow, good point !

[Giffo65]

I ended up getting Nick from KPS Maritime out to do a report on the boat. Nice bloke to deal with and arrived on time, I would recommend him as well.