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14-09-2015, 06:48
Boat: Looking for a new boat
using Cruisers Sailing Forum
14-09-2015, 07:05
Boat: 1976 FORMOSA yankee clipper 41
there is no surey required. for replacement there is always a needed. go from there.
14-09-2015, 07:16
Boat: 99 Island Packet 380
, which were on a lake. I doubt that any of your usual home/auto insurers will require a , but the actual companies all will.
14-09-2015, 07:22
Boat: Pearson 422
14-09-2015, 08:29
Boat: President 43 Sportfish
without a survey. "whatever spare parts you bring, you'll never need"--goboatingnow "Id rather drown than have computers take over my life."--d design
14-09-2015, 08:36
Boat: Island Packet 380 - Delta Blues
14-09-2015, 08:43
.
Beth led the analysis to convince them to make the change. Turned out that "insurance surveys" we're not adding much value . . . . Quite Different than "pre-purchase surveys".
14-09-2015, 09:03
Boat: President 43 Sportfish
14-09-2015, 09:18
Boat: Rafiki 37
replacement there is always a survey needed. go from there.
14-09-2015, 09:33
- Elmore Leonard
14-09-2015, 09:53
Boat: Looking for a new boat
without a survey.
14-09-2015, 09:59
Boat: TRT 1200
14-09-2015, 10:04
Boat: 01 Catana 401
a boat without a survey.
14-09-2015, 10:14
Boat: Ian Ross design ketch 63'
said - AFTER he collected the - "I hate ferrocement boats." Lived in dread for a week, but he came through (grudgingly).
14-09-2015, 10:29
Boat: Cabo Rico 38
me $3800/yr. since the boat is 15 yr older I asked if I could reduce the insured amount. I was told they would "consider it" with a new survey.
I was not going to pay for a survey with only the chance they could reduce my premium. So I changed to liability with . Premium is now $800/yr.
I've never had a claim in over 20 yrs, so I'll take my chances.
Rich
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Yacht insurance
The marine insurance leader for over 45 years.
Find a Markel marine agent and get a free, no-obligation quote today.
If you love your yacht, you’ll love our insurance.
We’ve been the yacht insurance leader for over 45 years because we provide coverages that fit your yacht and your lifestyle. Markel yacht insurance can offer distinct advantages in coverage features, options, knowledge and experience.
Why do you need yacht insurance?
Whether you own a yacht or a houseboat, we understand it’s not a typical boat and shouldn’t be covered by a typical boat insurance policy. That’s where we come in—each Markel yacht insurance policy can be customized to fit your yacht, your needs, your budget and your style.
Still not sure?
Here’s a few of the potential advantages to insuring your yacht with us:.
More complete coverage than any other carrier at no additional cost.
Experienced yacht underwriters and marine claims specialists who provide prompt, responsive service.
Discounts and cost-effective coverage options to save you money.
Flexible payment options.
Save money by customizing your yacht insurance
Actual cash value coverage (ACV) Reduce your coverage to ACV, which factors in depreciation of your yacht should you have to file a claim.
Lay-up option We’ll discount your yacht insurance premium during the winter months when your yacht is not in use.
Higher deductibles If you can manage minor repairs to your boat on your own, selecting a higher deductible will reduce your premium.
Windstorm exclusion Live in an area that isn’t at risk for a hurricane? You may consider removing windstorm coverage from your policy.
Liability only Coverage in case you damage another yacht and/or person (doesn’t require a survey—even for older boats).
What we offer
We offer coverage for a variety of watercrafts over 26 feet in length, including:.
Sport fishing boat
Our coverages can include:
Coverage for your yacht
Coverage for you
Optional coverages
Hull and equipment insurance protection including:
Protect and recover can cover reasonable costs incurred when trying to protect your yacht from further damage after an accident
Consequential damage for non-wood yachts–normal wear and tear and deterioration is not typically covered under a yacht insurance policy. However, if your yacht suffers damage from fire, explosion, sinking or collision because of one of these conditions, you may be protected
Ice and freezing damage coverage if you contracted with a commercial marina or repair facility
Agreed value for total loss
Deductible waived on most total losses
No depreciation on most partial losses
Automatic tender coverage
Windstorm extra expense If there is a named storm, watch or warning, we will share the expense with you to help protect your yacht before the storm makes landfall.
Personal effects coverage For all the “extras” you physically bring onto your yacht. (i.e., smart phone, camera, etc.)
Emergency towing and assistance Coverage for towing expenses if your yacht happens to get stuck in or out of the water, including the delivery of gas, oil and parts.
Rental reimbursement coverage Coverage for when your yacht is being repaired from a covered loss.
Uninsured boater Unfortunately, not all boaters on the water have insurance. This coverage helps protect you and your family members if you are injured in an accident caused by an uninsured boater. Coverage is automatically included if watercraft liability is purchased.
Pollution liability Pollution coverage helps protects you if you are held legally liable due to an oil pollution leak or spill.
Medical payments Coverage for injuries suffered during an accident on your yacht.
Paid crew (Jones Act) Protection for you if you are legally responsible for injuries to a paid captain or crew member while on your yacht.
Protection and indemnity Coverage in the event that you are responsible for injuries to another person, or damage to their boat or property. Wreck removal is included with purchase of hull coverage.
Boat trailer coverage
Boat lift and boat house coverage
Fishing tournament reimbursement for fishing boats
Fishing equipment protection
Transit and storage coverage
Trip coverage
Trip interruption reimbursement
Personal liability coverage if you live aboard your yacht
Frequently asked questions about yacht insurance
General questions.
How much coverage do I need? Each boat, person, location and situation is different. There isn't a good way to give a "ballpark" figure for how much coverage you need. It’s best to evaluate your comfortable level of risk when protecting your boat, assets and passengers. Your best option is to call our boat specialists at +1.800.236.2453 to discuss the best coverage for you.
Can I insure my yacht for liability only? Yes, we offer protection and indemnity (liability only) coverage to help protect you in case you are responsible for injuries to another person or damage to another boat or property. Many carriers do not offer liability-only policies for yachts, or if they do, require a survey. However, Markel’s protection and indemnity coverage does not require a survey, so you’re able to do what you love without worries out on the water.
Will my policy cover normal wear and tear of my yacht? Most insurance policies will not cover normal wear and tear of your yacht and the deterioration or the resulting damage. However, if your yacht is damaged from fire, explosion, sinking, collision or stranding, you may be protected under our consequential damage coverage.
Can I use my yacht for chartering? We know that sometimes yacht owners charter their yacht for sightseeing tours or even sport fishing to help offset some of the costs of owning a yacht. Markel offers an optional limited charter coverage for these situations provided the captain of the watercraft has a minimum of 2 years loss-free experience of yachting. Additional restrictions may apply.
I live on my yacht. Am I covered? Markel provides live aboard coverage. Be sure to disclose that you live aboard to your agent.
My yacht is in a corporation's name. Can I still insure it with Markel? Our yacht insurance policy can cover corporately titled boats for both personal use and client entertainment. We do require all corporately titled boats designate a designee of the watercraft. Contact your agent to learn more.
Do I need to insure my yacht in the winter? It may seem that since you don't use your yacht in the winter you don't need to insure it. This is a risky way of looking at insurance and one that we have seen cost far too many people far too much money. Your yacht is at risk for damages at all times of the year, not only when it's on the water. For example, if your yacht is placed in storage for the winter and is damaged, you will not have any assistance in paying for those repairs without an active insurance policy.
Do you cover unique boats? We offer coverage for various kinds of boats that other insurers may shy away from, including: high performance boats, airboats, hovercraft, etc. Not sure if your watercraft will be covered? Give us a call at +1.800.236.2453 to speak with one of our marine insurance specialists.
What kind of fishing equipment is covered? Your rods, reels and tackle are automatically covered under your personal effects coverage up to the limit purchased. If that coverage isn't sufficient, our fishing equipment coverage provides insurance protection at replacement cost. Please contact one of our marine insurance specialists at +1.800.236.2453 to find out more.
Claims questions
How do I file a claim? We understand that no one wants to file a claim. That's why we do everything we can to make the process as painless as possible. You can report your yacht insurance claim by calling our office at +1.800.236.2453 or submit your claim online and we'll take it from there.
How long will it take for my claim to be processed? We are committed to investigating, evaluating and resolving marine insurance claims in a timely manner.
Is there anything I can do to help speed up the claim process? Yes, you can help streamline the claims and settlement process and avoid delays by providing the following information when you file your claim:
Policy number
Date, time and location of loss or damage
Description of loss or damage
Digital photos (if possible)
Phone number to reach you
Additional resources
Related articles.
From boat safety tips to breaking down yacht insurance, find the information, advice, and resources you’ll need all in one place.
Warrior Sailing
Markel is a proud supporter of Warrior Sailing, an organization dedicated to healing and strengthening the lives of veterans through sailing. Visit warriorsailing.org to learn about Warrior Sailing and how you can donate to the program so they can continue to help the lives of wounded veterans.
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Specialized coverage designed specifically for boats 26 feet or less, such as pontoons, runabouts, fishing boats and more.
Personal watercraft
Insurance for personal watercrafts (PWCs) such as a Jet Ski, Sea-Doo or WaveRunner.
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Coverage for speedboats greater than 26 feet in length and capable of speeds 66 to 120 m.p.h.
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We give you the freedom to boat wherever you'd like on any lake or river in the U.S. and Canada, plus ocean waters within 75 miles of their coasts. And, we drop the common requirements and restrictions other insurers may force on you. For example, we don't require a marine survey to purchase your policy, which could cost around $600 for a 30-foot boat. Get a boat insurance quote from Progressive so you have the protection you need to get on the water right away.
We insure over 1 million watercraft, and we can help insure yours, too
With over 35 years of boat insurance experience, we know how to keep you afloat. So, as long as your boat or personal watercraft (PWC) is valued at no more than $500,000 and is up to 50 feet long, we’ll most likely insure it. †† Don’t see your watercraft listed here? Call us at 1-855-347-3939 and we’ll do what we can to get you covered.
Bass & fishing boats
Boats built specifically for fishing, with features like trolling motors, power poles, etc.
Pontoon boats
Boats built on hollow metal cylinders for cruising on lakes and rivers
The most popular type of boat, used for fishing, cruising, watersports, and more
Personal watercraft (PWC)
These include Jet Skis, Sea-Doos, WaveRunners, and similar watercraft meant for one to three people
Boats that use at least one sail for power, although they may also have a motor
Ways to save
A boat insurance policy that offers more in savings
See why we're way above water when it comes to boat insurance discounts. Get a boat insurance quote online and we'll automatically apply each discount you're eligible for.
Multi-policy
Is your home, car, motorcycle, or RV insured with us? You could save even more on boat insurance if you have another Progressive policy.
You’ll earn a discount for having more than one watercraft on your policy.
Original owner
One of the easiest ways to save! If you are the original owner of your watercraft, we’ll give you a discount.
Safety course
Anyone can save. Just complete any state-approved safety course to save even more on your boat insurance policy.
Boat insurance that covers those choppy waters
We automatically include liability to pay for damages and injuries you cause if you hit another boat, person, dock, buoy, or something else. Plus, we offer comprehensive and collision to pay for damage to your boat in addition to other protections and benefits that you may not get with every insurer.
Some of our coverages
Sign & Glide® on-water towing †
If you run out of gas or your boat breaks down on the water, Progressive’s optional Sign & Glide coverage pays for on-water towing, fuel delivery, ** soft ungroundings, and jump starts. We even arrange for the tow and pay the tow operator directly (in most cases). Simply download our Sign & Glide app on your smart phone and you’ll never worry about an on-water breakdown. More on Sign & Glide .
Example: You run out of gas in the middle of a lake. If you added this protection, just call our dispatch center (number included on your policy card) or contact us through the Sign & Glide app. We’ll then deliver fuel and/or tow you to the nearest shore.
Full replacement cost
When your watercraft needs to be repaired, we always bring your boat back to its previous condition or better, and never depreciate the value of any of your parts.
Example: Four seats are damaged on your 10 year-old boat. They’re older and only worth $50 each, so some insurers may only give you $200 ($50 per seat). But, you need new ones that cost $250 each. We’ll pay the full $1,000 for all new seats. That's an $800 difference!
Propulsion Plus®
Add Propulsion Plus and we repair or replace the lower unit of an outboard motor, or upper and lower units of an inboard/outboard motor, if you have a mechanical breakdown—even if it’s caused by wear and tear. Propulsion Plus is optional and starts at just $38/ per year. Compare that to the thousands you could pay out of pocket to fix it on your own.
Example: Your lower unit is 10 years old and simply runs its course and dies on you. Typically, normal wear and tear wouldn’t be covered by insurance. But if you add Propulsion Plus coverage, we pay to repair or replace your lower unit.
Wreckage removal & fuel spill
Wreckage removal and fuel spill coverages are automatically included in every Progressive boat insurance policy. If your boat sinks or you’re responsible for a fuel spill, we cover the bills all the way up to your policy’s property damage liability limits. We only remove your sunken boat if it’s legally required.
Example: Your old boat sinks while docked. The Coast Guard may require you to remove the wreckage and address any fuel spills. Just contact us to file the claim, and we cover the costs.
Insurance limitations for boats and PWCs
When it comes to boat insurance, Progressive boasts some of the broadest acceptability in the business. But there are some types of vessels that can’t be added to a new or existing Progressive policy:
Boats 0-10 years old and worth more than $500,000
Boats 11-20 years old and worth more than $350,000
Boats more than 20 years old and worth more than $75,000
Boats used as a primary residence (live aboards)
All houseboats
Homemade boats without a hull identification number
Boats with more than two owners
Boats with steel or wood hulls
All amphibious land boats, hovercraft, or airboats
PWCs worth more than $27,000
Boats that do not meet published U.S. Coast Guard standards
We also cannot insure boats over 50 feet in length. In some hurricane-prone states, the limits can be 35 feet and $175,000 in value.
Common questions about boat insurance
How much is boat insurance?
Your price for boat insurance is based on numerous factors, including:
Location: Watercraft insurance is generally more expensive if you boat in a coastal state. You may pay less for boat insurance in states where boating is not a year-round activity.
Boat type: The year, make, and model of your watercraft will affect your policy’s cost.
Boating history: Experienced boaters are less likely to have an accident on the water and will often pay less for boat insurance compared to inexperienced boaters.
Prior claims: If you have a history of boat insurance claims, you could pay more to insure your boat and for liability protection.
Boat insurance policies are generally affordable. Nearly 75% of Progressive’s boat insurance customers pay their policies in full. Find out more about the cost of a boat policy and learn ways to attain cheap boat insurance .
Is boat insurance required?
Boat insurance is mandated in only a few states but, if you're financing your watercraft, you're typically required by your lender to carry comprehensive and collision coverage. Additionally, if you dock your boat, your marina may require you to show proof of liability coverage. Find out the boat insurance requirements in your state .
Does boat insurance cover theft?
Comprehensive coverage protects against damage to your watercraft from incidents out of your control, including theft .
Does boat insurance cover the boat trailer?
Damage to your boat trailer is typically covered if you add your trailer to your boat insurance policy. You're protected against damage to your boat trailer even if your boat isn't on the trailer at the time of the incident. Learn more about boat trailer insurance .
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Want to learn more about boat insurance before casting off? Use Progressive Answers boat insurance resources to find all the information you need .
Boat insurance 101
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Find out the average cost of insuring a boat and how much it varies by region.
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Sailboat insurance: an essential guide
Looking into insuring your sailboat? Dive into this guide for clear insights on terms, coverage, costs, and essential considerations.
Owning a sailboat is a thrilling experience, but like any valuable asset, it carries its potential risks. Yachting insurance serves as a vital shield against these threats. However, the often complex language of insurance can pose a deterrent for enthusiasts. This guide seeks to simplify these complicated terms, explaining the workings, coverage, value, costs, and critical aspects of such insurance. Our goal is to empower you with essential insights to confidently navigate the insurance landscape.
How does yachting insurance work?
Sailing insurance serves as a financial shield against the various risks that come with this maritime passion. Its critical role is to protect the substantial investment made in the vessel, offering reassurance for every venture out to sea.
Although this may vary by jurisdiction, standard coverage typically includes protection against physical damage to the yacht, personal injuries, and third-party liability - plus a host of add-ons available to cater to specific needs. Given the specific nuances of sailing, additional coverages such as storm damage, rigging coverage, or overseas use may be especially important. In the unfortunate circumstance of an accident or mishap, the insurance policy steps in to bear the cost of repairs, replacement, legal obligations, and even medical expenses.
Sailing insurance: What does it typically cover?
Understanding the breadth of coverage offered by a yachting insurance policy is pivotal in ensuring optimal protection. Typically, these encompass:
Hull and machinery coverage: Protects against damage to the vessel and its crucial components, catering for repairs or replacement costs.
Personal accident cover: Addresses financial implications of injuries to the boat's occupants, covering medical costs and potential loss of income.
Public liability insurance: This applies when the boat is involved in an accident causing injury or damage to third parties. It covers legal expenses, settlements, and damage repair for others.
Salvage and wreck removal: This covers the cost of recovering and removing the boat's wreckage following an accident.
Additional coverages can be considered to provide a more extensive level of protection, such as:
Emergency assistance: Provides emergency services like towing or on-site repair in case of breakdowns.
Personal effects coverage: Protects personal items brought onto the boat, such as fishing gear or electronic devices.
Rigging coverage: Rigging is a critical part of any sailboat, and damage to it can be costly. Not all policies automatically cover wear and tear on rigging, especially damages caused by heavy winds. Therefore, it's crucial to confirm whether your chosen policy specifically addresses these scenarios.
While the above-listed coverages form the basis of a standard policy, it's important to note that factors such as inshore or offshore use, cruising, or regatta participation can influence the insurance policies. Different sailing boat insurance providers offer a range of additional options to tailor coverage to these individual needs. So, be proactive. Effective communication with your representative can make all the difference!
Is boat insurance worth it?
The answer is a resounding 'Yes!'. Yachting insurance not only manages risk but also underpins the enjoyment and freedom that it represents.
Across different jurisdictions, sailboat insurance requirements vary. However, if you've financed your yacht with a loan or if you dock it in a marina , your lender or the harbor management might mandate proof of coverage.
Risks unique to sailing and boating
Sailing yacht insurance proves its worth in a myriad of unforeseen scenarios. Consider a situation where a sudden storm damages your sails or rigging, or an unexpected grounding causing hull damage. The cost implications of repairs can mount up, presenting a daunting financial burden.
Its value, though, is not limited to only these overt threats. It safeguards against more subtle but equally consequential risks tied to extreme weather conditions, sea-based hazards, and equipment failures - such as malfunctioning winches or navigation equipment - situations in which the benefits of having sailing insurance offshore become vividly apparent.
Boat insurance cost: What price tag are we looking at?
Navigating sailboat insurance costs can be as tricky as steering through choppy waters. Premiums can fluctuate significantly, mirroring each vessel's broad spectrum of variables and characteristics.
Understanding your sailing insurance quote
Generally, insurance costs fall within a range of 1% to 5% of the boat's value. But, it isn't merely an arbitrary number pulled out of thin air; it's a meticulously calculated figure embodying many components.
Safety measures: Boats equipped with safety features might get discounts.
Storage and mooring: Safe storage can lower the risk of damage and theft, reducing insurance costs.
Frequency of use: Less frequently used boats may have lower premiums.
Offshore sailing: Offshore sailing generally requires more comprehensive and costly insurance.
Racing or regatta participation: If you participate in races or regattas, this may increase your premium due to the heightened risk.
H ow to get boat insurance? Choosing the right provider
Here's a pearl of wisdom: don't anchor your decision solely on price! Yachting insurance is about charting a course towards peace of mind, ensuring your sailing pursuits are aptly shielded.
Embarking on your coverage journey starts with comprehending your unique sailing needs, canvassing and contrasting various quotes, and meticulously evaluating policy inclusions, exclusions, and stipulations. This due diligence serves as your bulwark; if navigated carefully, it's an investment that will weather many a storm, letting you enjoy the adventure without the nagging worry of unforeseen troubles lurking beneath the surface.
Yachting insurance provider: what to look for
Look beyond the allure of competitive premiums. Gauge the company's reputation - does it have a history of fairness and transparency in its dealings? Evaluate the quality of customer service - will they respond quickly and efficiently when you need them the most? Ascertain the smoothness of their claims process and if they're known for hassle-free claim settlements. Importantly, verify their financial stability to ensure that even in the face of a significant claim, they can deliver on their promise of protection.
Set sail with boat insurance.
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If the value of your watercraft is under $150,000, call Progressive at 800-809-1925.
If you have a yacht or other high-value boat, call Markel at 866-936-1879.
Note 1 The 5% member-only discount may be subject to a maximum overall discount per policy depending on all other discounts you may be receiving. Discount is not available in all states. Complete a no obligation quote to see all of the discounts you could receive.
Note 2 Not all discounts available in all states. Other restrictions may apply in some situations.
Use of the term "member" or "membership" refers to membership in USAA Membership Services and does not convey any legal or ownership rights in USAA. Restrictions apply and are subject to change.
The above coverage descriptions are intended to provide general information and are not an insurance contract. All coverages are subject to the terms, exclusions and conditions of the insurance policy. Read the insurance policy for complete details. Product, coverage and coverage limits options may vary by insurance company and location. Applications for insurance are subject to underwriting by the insurance company.
USAA Insurance Agency means USAA Insurance Agency, Incorporated or USAA of Texas Insurance Agency (collectively the "Agency"). California License #0D78305, Texas License #7096. 9800 Fredericksburg Road, San Antonio, Texas 78288. The Agency contracts with insurance carriers that are not affiliated with USAA and offers products and services ("third-party insurance products") on their behalf. Third-party insurance products are not underwritten by USAA or its affiliates. The Agency receives a commission on the sale or renewal of third-party insurance products and may receive other performance-based compensation from them. Purchase of third-party insurance products does not establish USAA membership. Product and coverage descriptions are brief. All coverages are subject to the terms and conditions of your policy. Read your policy for details. Product and coverage availability may vary in some locations and all applications for insurance are subject to underwriting by the insurance carrier.
Coverage is provided by Markel American Insurance Company. Policyholder services are provided by Markel Service, Incorporated, national producer license # 27585, in California doing business as Markel Insurance Services, license # 0645481. This content is provided for informational purposes only. Policy terms, conditions, and exclusions apply. Coverage, dividends and services availability may vary by state. Terms and conditions for rates and coverages vary.
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Navigating Boat Insurance Without a Survey Simplified Solutions from DiamondBack Insurance
DiamondBack Insurance
February 12, 2024
Yacht Insurance
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In the intricate world of boat ownership, obtaining the right insurance coverage is paramount. However, the traditional requirement for a marine survey can often be a hurdle for many boat owners, especially those with older vessels or those looking for a quicker insurance solution. Recognizing this challenge, DiamondBack Insurance offers a streamlined path to securing boat insurance without the necessity of a survey. Through our instant online quotes, instant online binding, and instant online insurance proposals, we provide a hassle-free experience for boat owners seeking comprehensive coverage with ease.
The Challenge of Marine Surveys
Typically, marine insurance companies require a detailed survey of a vessel before offering coverage. This process assesses the boat’s condition, value, and the risks associated with insuring it. While beneficial for assessing a boat’s insurability, surveys can be time-consuming and costly, creating a barrier for many owners eager to get their vessels insured promptly.
DiamondBack Insurance: A Solution at Your Fingertips
At DiamondBack Insurance, we understand that time is of the essence for boat owners. Our innovative approach to boat insurance allows you to bypass the traditional survey requirement for certain types of coverage or under specific conditions. Here’s how we make it possible:
Instant Online Quotes
Our platform offers instant online quotes, providing you with a quick and straightforward way to estimate your insurance costs. By answering a few simple questions about your vessel and its usage, you can receive a comprehensive quote tailored to your specific needs—no survey required.
Instant Online Binding
Once you’ve received your quote and reviewed your instant online insurance proposal, securing your coverage is just a few clicks away. With our instant online binding feature, you can activate your insurance policy immediately, ensuring your vessel is protected without any unnecessary delays.
Instant Online Insurance Proposal
Understanding that every boat and owner has unique insurance needs, DiamondBack Insurance provides customized instant online insurance proposals. Our proposals consider various factors, including the age and type of your boat, to offer coverage options that align with your requirements, bypassing the need for a survey in many cases.
Why Choose DiamondBack Insurance?
Opting for boat insurance without a survey through DiamondBack Insurance means enjoying several key benefits:
Speed and Convenience : Get insured quickly without the wait times associated with traditional surveys.
Cost Savings : Save on the expenses often incurred from conducting a marine survey.
Tailored Coverage : Enjoy customized insurance solutions designed to meet your specific boating needs.
A Call to Action for Boat Owners
For boat owners looking to insure their vessels efficiently and effectively, DiamondBack Insurance offers the perfect solution. Our streamlined process ensures that you can obtain comprehensive coverage tailored to your needs, without the traditional barriers of time and cost.
For an instant yacht insurance quote and to explore your coverage options without the need for a survey, click here: https://diamondbackins.com/yacht-insurance-instant-online-quote/ .
Embark on your next maritime adventure with confidence, knowing that DiamondBack Insurance has you covered. Our commitment to providing instant, accessible, and tailored insurance solutions means you can enjoy the seas with peace of mind, leaving the complexities of insurance to us.
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A Guide to Boat Surveys for Insurance
By John Miceli
B oat insurance isn’t as standardized as other types of insurance. Boats as vehicles simply present a lot of risks for carriers. Their values can range greatly, and the conditions they face on a regulation-less and unforgiving ocean can affect different vessels in different ways.
Then, factor in upkeep and relatively high repair costs in case of damage, and you can see that there are a lot of factors to consider for an insurance company to cover a boat.
The myriad of conditions and variables are why some boat insurance companies may want you to get a marine survey before giving you a boat insurance policy .
Below, we’ll take a look at everything you need to know about boat surveys for insurance, including boat survey costs, boat survey requirements, and a possible checklist you can expect a marine surveyor to run through.
What Is a Marine Survey for Insurance?
A marine or boat survey for insurance is a detailed inspection of the interior and exterior of your vessel. A good surveyor will look over the hull, deck, fuel system, electrical system, rigging and more to determine your boat’s safety, condition, and value.
This is useful for insurance companies for several reasons. It gauges your boat’s value , which is important for your policy limits. If the inspection uncovers underlying or preexisting issues, the insurer can avoid covering your boat. The surveyor can also recommend steps you, the boat owner, should take to remedy your vessel’s problems.
Whether an insurer will require you to get a surrey on your boat can depend on its age, length, or potential value. Basically, it depends on the question marks that surround your boat. For instance, discrepancies in your vessel’s market value, past incidents of damage, and past boat insurance claims could all be reasons why an insurer would want to take a closer look at your boat.
Mandates for boat surveys vary by company. Some providers will survey nearly all boats before giving out policies, while other companies may be more lenient. A carrier is likely more comfortable covering a newer boat without a survey than an older boat or a boat with many previous owners.
Do I Need a Survey for Boat Insurance?
The type of survey usually needed to fulfill insurance requirements is known as a Condition & Value (C&V) survey, or you’ll need one that is very similar to a C&V survey. A boat survey for insurance may include a sea trial but it isn’t always required. It depends on the insurer.
Typically, insurance companies require the marine survey to be done by a certified third-party professional. Self-surveys aren’t usually accepted, nor ones done by brokers or marinas. If you’re switching insurance companies, the new carrier may accept your survey done for your old insurer if it was within the last year or two. But, don’t be surprised if you need another one.
Your boat will likely need to be taken out of the water for the survey. Leaving it in the water could prevent some issues from being spotted. Also, before getting a survey done you may need to remove all nonessential equipment from your boat, like any clutter that could get in the way.
Boat Survey Checklist
The checklist for your boat survey will vary based on vessel type, but generally, a surveyor will inspect your boat’s:
Mechanical systems ( engine , motor, air conditioning, plumbing)
Electrical systems (power supply, circuits, mast lights, radio, wiring)
Rigging (sails, lines, chainplates)
Safety equipment (PFDs, fire extinguishers)
Your boat won’t receive a pass or fail grade after the survey. Instead, you’ll receive a report outlining your boat’s condition and market value. If your boat has issues, the surveyor can recommend what steps you need to take to fix them. But, they won’t repair anything for you.
Can You Get Boat Insurance Without a Survey?
You can get boat insurance without a survey, but it’s not always possible. As mentioned earlier, newer boats that are only a year or two old may not need a survey. A sales receipt could be used to determine their market price fairly accurately. Old boats, used boats, and very large boats may be more likely to need surveys.
You also likely won’t need a marine survey if you’re buying just liability insurance for your watercraft . Liability insurance doesn’t protect the value of your boat, so insurers don’t require a survey before buying it.
You’re more likely to find that the bigger name companies are capable of binding policies without a survey than smaller, specialty insurers. And, you don’t need a survey to just get boat insurance quotes, either.
How Much Does a Boat Survey Cost?
The cost of a boat survey for insurance is usually charged by the size of the boat, typically per foot. You can generally expect to pay around $20 per foot. In addition to vessel length, boat survey costs may be affected by the age of the boat and its construction type.
Very old boats may cost more to inspect, as well as boats with multiple hulls. It depends on your location, too. Some regions may have more affordable boat surveys than others.
Keep in mind that some surveyors will have a minimum charge that your boat must exceed for it to be worth their time. Or, for small boats, for instance, a surveyor may have a flat rate of a few hundred dollars.
Marine survey costs may vary on the requirements of the inspection, too. Extra procedures, like a compression test, may cost more.
Can You Survey Your Own Boat for Insurance?
You can’t survey your own boat to satisfy marine insurance survey requirements. When providers need a boat survey, they need one done by an accredited professional. Usually, this is a third-party specialist not affiliated with the insurance company, the policyholder, or the marina or yard where your boat may be. Self surveys aren’t typically accepted.
Boat surveys for insurance are important to determine that your boat isn’t a safety hazard. They’re also important to verify the initial condition of your vessel in case it does suffer damage and you file a claim. For that reason, boat surveys done for insurance may include pictures of your vessel. You can’t survey your own boat because you could skew any parts of the report to make it seem more favorable than it is.
To find a certified boat surveyor near you, a good place to look is the American Boat & Yacht Council or the Society of Accredited Marine Surveyors websites. They have databases nationwide, and you’ll be able to find one close by. Surveyors will often travel to survey a boat you’re trying to purchase, too. Be sure to know what your insurer wants in the survey before requesting one so you can mention it to the surveyor, and they can prepare accordingly.
Who Pays for a Boat Survey?
Usually, the prospective policyholder of the vessel pays for the survey. An insurance company won’t pay for a survey needed to satisfy their requirements.
If you’re looking to buy a boat and want to survey it before you get it, you may be able to work something out with the current owner to have them cover some of the costs. But, generally, you should expect to foot the bill for any insurance surveys you need.
The cost of a haul-out isn’t generally included in a survey price, either, but you’ll likely need to pay for that, too, if it’s needed. This is another reason to know what your insurer expects before having the survey done. If you find out you’ll need to haul your boat for an inspection, you’ll need to organize it with the marina ahead of time.
Don’t get sunk by unexpected damages.Keep your vessel safe with a policy from one of the nation’s top carriers.
The editorial content on Clovered’s website is meant to be informational material and should not be considered legal advice.
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Can You Get Boat Insurance Without a Survey?
Understanding Boat Insurance
As a boater, you are probably aware of the importance of boat insurance. Boat insurance protects you from financial losses in case of accidents, theft, or in case of any liability claims. Many people think that boat insurance is not necessary, but the truth is, it is just as important as car insurance. However, the process of obtaining boat insurance can be overwhelming, and many people are not sure what is required of them.
What is a Survey?
A survey is an essential aspect of boat insurance. It entails a comprehensive inspection of the boat’s hull, machinery, and general condition. The survey’s primary purpose is to evaluate the boat’s overall worth and its risk factors. The surveyor’s report outlines the boat’s condition, recommendations, and the estimated cost of repairs or upgrades.
Reasons to Get a Survey
A survey is mandatory for most boats, especially those that are more than ten years old. The survey is essential for several reasons, including:
Insurance Requirements
Most insurance companies require a survey before they can insure your boat. The surveyor’s report helps the insurance company determine the risk factors, which in turn determines the premium rates.
Safety Considerations
A survey helps identify any safety issues with the boat. A faulty hull or outdated equipment can create unsafe conditions for you and your passengers. A survey can help you identify these issues and make the necessary repairs or upgrades.
While many insurance companies require a survey, there are a few exceptions. Some insurance providers offer “agreed value policies” that do not require surveys. These policies are only available for newer boats or boats that have been recently surveyed.
Benefits of a Survey
While a survey may seem like an additional expense, it is essential for several reasons, including:
Peace of Mind
A survey provides you with peace of mind knowing that your boat is safe and in good condition.
A survey helps you comply with insurance requirements and regulations.
A survey helps you protect your investment by identifying issues before they become major problems.
Negotiation
A surveyor’s report can help you negotiate the price of the boat, especially if there are areas that need repair or upgrading.
In conclusion, a survey is an essential aspect of boat insurance. While some insurance companies offer policies without surveys, it is still recommended to get a survey. A survey helps you identify potential issues with the boat, comply with regulations, and protect your investment. Remember, boat insurance is just as important as car insurance, and it is essential to have the right coverage to protect yourself from financial losses.
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Boating is a great summer pastime and one of the most pleasurable activities for many people who live near lakes, rivers and reservoirs. But what happens if you cause an accident resulting in injury or property damage to someone else on the water?
That’s where boat liability insurance comes in. This important insurance coverage, also called marine liability insurance, helps you to pay for damages you cause, injuries to others, and legal fees if you are taken to court.
Find an independent agent in our network today and get the information you need about marine liability insurance before an incident occurs.
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Top 4 Boating Accident Causes
Operator inattention
Improper lookout
Operator inexperience
Excessive speed
Boat Liability Insurance Protects You from Financial Disaster
Some of the most common questions when boaters begin looking for coverage include, “How much boat insurance do I need?” and “Will I be covered if I cause an accident or injury?”
By their very nature, water sports come with risks. Unfortunately, boaters do cause incidents each year that lead to injuries and property damage, which is why it is important to have adequate liability insurance.
It is a good idea to get an understanding of what liability insurance is, what it covers, and how much you need to protect your financial well-being. Liability insurance protects you if something catastrophic should happen and you are at fault.
For example, in the event of a severe injury or casualty due to your actions or even negligence, an adequate amount of liability insurance can protect you financially.
What Does Boat Liability Insurance Cover?
Liability insurance covers several different financial obligations you may have if you are responsible for an incident that results in harm or damage to other people or property. Depending on the policy and the choices you make, this coverage can include:
Property damage liability: Covers harm done to another person’s boat, dock, water skis or other possessions
Bodily injury liability: Covers the costs associated with one or more person(s) injuries, such as medical expenses, hospitalization and rehabilitation
Pollution liability: Covers you in the event of a fuel spill
Wreckage removal: Covers your legal obligation to remove debris after an incident
Your boat liability insurance will also cover your legal fees in the event that another person or entity files a lawsuit against you. You may have legal defense costs whether or not you are ultimately responsible.
Without adequate liability insurance in place, these expenses would have to come out of your pocket. When medical expenses and legal fees add up, you could be responsible for hundreds of dollars of damages. The primary reason to get adequate marine liability insurance is to protect your finances after an incident.
How Much Marine Liability Insurance Do You Need?
If you cause severe property damage, injuries, or casualty by negligence or inattention, how much will you have to pay if you are sued? Consider the cost of hospitalization, funeral expenses or legal defense fees.
If property damage is involved, consider what you may have to pay out of pocket if you accidentally damage an expensive new boat. It is important to consider the possible costs if something tragic should happen.
When you purchase coverage, you will need to choose the limits of your policy and your deductibles. The boat liability insurance limits you choose will determine how much your insurance company will cover before you must pay out of pocket.
Your deductible is the amount of money you’re required to pay before insurance kicks in to cover damages.
Boat liability insurance typically covers anywhere from $100,000 to $1 million in damages. It’s wise to discuss how much coverage you need with a knowledgeable agent. An agent in your area will be happy to cover these details with you and help you make an educated choice.
Umbrella Liability Policies for Boaters
You may want to ensure you have the coverage you need in the event you cause a catastrophic accident that costs more than your liability policy will cover. An umbrella liability insurance policy is a safety net with a relatively low cost that will kick in to help cover those unforeseen costs.
While a typical boat liability insurance policy caps at a limit of somewhere between $100,000 and $1 million, an umbrella liability policy can provide extra coverage with a much higher limit, such as $10 million worth of liability.
Those who take crew on board their speed boat, “party boat” or other type of watercraft find that the extra protection provides peace of mind.
Getting Help with Your Boat Liability Insurance
An independent agent can answer any questions you may have about boat liability insurance, umbrella policies and more. You can find a local agent right in your area who knows your state’s requirements for boat insurance coverage .
Independent agents in our network are based in over 27,000 member agency locations nationwide. They live and work in your community, so they are uniquely invested in providing personalized insurance quotes and excellent customer service just for you.
Find an agent today and get the help you need with boat liability insurance.
How To Make Yacht Insurance Suck Less
We’re starting our 6th year as liveaboard offshore sailors. And without a doubt, yacht insurance has been the most unexpected pain in the arse!
We’d always been told: Getting sailboat insurance the first year would be a challenge. It will be the most expensive for year one because we were newbies…with almost zero sailing experience. But those two warnings were quickly followed up with a little optimism: As you stretch your sea-legs, gain more sailing experience and log more time on the water, options would open up and insurance would get cheaper.
Lies. All Lies.
And it’s not just us, it’s every offshore USA flagged boat owner we talk to. Yacht insurance as an American sailor abroad just kinda sucks. Especially in the South Pacific (for some odd reason). I can’t offer up any words of wisdom on how to fix this mind-bending insurance system, but we have learned a lot on how to best present ourselves and our vessel.
Of course, we are NOT experts and there is still a lot we don’t know. But, if you’re a newbie buying your first boat or a fellow sailor struggling to get offshore, bluewater, around-the-world coverage, hopefully, this information will make the process suck a little less.
Here are the biggest tips we’ve learned about getting boat insurance.
Why is it so difficult to get offshore yacht insurance???
We ask this question to all the insurance brokers we contact and here are some of the responses we’ve received.
“The current yacht insurance market is getting hard to place coverage for cruisers abroad, and with the majority of the south pacific closed it isn’t very appetizing for US or London Insurers to provide coverage. Inevitably with time, the insurance industry will reopen.”
“Big, negative changes in the boat insurance markets due to 100,000+ lost vessels in the last 3 years.”
(increase in natural disasters: hurricanes, floods…)
“If anyone asks you to sign a Broker of Record Letter , they are trying to get you a quote that I’ve already sent to you…the number of options (or offshore insurance) are narrowing down!”
Underwriters had a lot of losses in the hurricanes and have really cut down on writing new business that involves long passage making and remote places. If the vessel has a claim, it is hard to find a haul-out, get work done, adjustors, survey, etc.
Why We Need Insurance
Our catamaran is our home, transportation, and everything we own. To us, it’s just not worth risking. In the past, sailors talked about cruising without insurance and how it wasn’t necessary. But the rules are changing. Even in the 5 years, we’ve been sailing we’ve noticed more and more places where sailboat insurance is a requirement. If you plan to sail around the world, here are some of the reasons why you may need yacht insurance.
Many countries are mandating insurance for entering yachts (Australia, Portugal, and others). And some countries like Panama and Ecuador have required proof of insurance from us when checking into the country.
Marina’s, Mooring Balls, and Haul Out Yards will require proof of insurance.
If you have a loan on your vessel, the bank will most likely require insurance.
Hit and Run Boaters are also a thing. Insurance is expensive and many boaters choose to go without. Imagine when that person accidentally bashes into your boat while you’re on a provision run…it’s not likely they’re going to drop the hook, dinghy over and leave a note on your boat with their contact info. Shoot, even if you see them do it what are the chance you’re going to get money out of them? If you have ‘hit and run’ coverage your insurance company will pay for the repairs.
Liability! There are a lot of scenarios we could talk about here (dragging anchor, busting off a mooring, hitting a $10,000,000 mega yacht at a fancy marina) and it’s all about what else we could damage that isn’t our boat. If we were to run up a reef, we become responsible for not only the removal and repair of our vessel but any damage to the reef, the property we’re on, and even the government agencies that maintain the oceans/fisheries. Talk about going bankrupt in a hot second!
3 Important Questions To Ask
There is a lot of industry jargon to interpret when it comes to boat insurance. It’s important to do your homework, read the policies, research anything you don’t understand, and ask a lot of questions. Here are some of our standard inquires.
Is this an ACTUAL CASH value or AGREED AMOUNT value policy? We want Agreed Amount . If the insurance company has agreed to insure our vessel at $300k, then we should receive a payout near that agreed value (not whatever some random computer says the generic value is. We have a lot of upgrades on our boat that the average coastal cruiser or charter boat wouldn’t have).
Salvage: Who picks up the bill if the boat needs to be salvaged? (from sinking, hurricane damage, etc) When we have a claim, how much help will the insurance company give us? For example, if the boat is damaged in a storm: Who handles the Salvage claims and repair process (find salver, crane, trucking, towing, repair facility, angry property owners, govt. official/agencies). To handle all of this on your own can be EXTREMELY STRESSFUL.
Consequential Damage: Does the policy have consequential damage coverage: For example what if a corroded through-hull causes the boat to sink (thinking of our single-hulled friends), or a fire breaks out and we don’t have automatic fire suppression in the engine locker (because we don’t)…If we don’t have consequential damage coverage, then a total loss claim could be chalked up to wear and tear.
Terms are Negotiable
Don’t take the initial quote as gospel. Just because a quote comes back with restrictions and requirements doesn’t mean they can’t be negotiated. If you don’t like something, ask about what you can do to change it. Provide additional documentation, upgrade something, take a higher deductible, take a first aid class…ya never know unless you ask.
If the policy says you need to be out of the hurricane zone by June 1 st , but your boat isn’t ready to leave, ask for an extension and provide the reasoning. They may give you an extra couple of weeks at no cost. It’s worked for us while we were in Florida.
Crew requirements can be modified. If the underwriter says you need a 4-person crew, resend your sailing resume and plea your case and experience. Explain how your vessel is set up for single-handing, or how you’ve sailed with a smaller crew in more challenging conditions. If it’s compelling, they can make adjustments. We’ve had to do this a couple of times over the years before paying for a new insurance policy,
If a new policy requires a haul-out and survey, but it’s not possible (or cost-prohibitive) to get this at your current location, tell them your intentions are to get a survey once you arrive at the next destination. They may give you 30 or 60 days after arrival to complete it. One of our quotes for 2021 agreed to let us delay the survey until after we arrived in NZ.
Rates We Have Paid
We all like real-world numbers and not hypotheticals. So here is a very quick glance at what we have paid over the past 6 years of being offshore sailors.
Remember, we have had to find a new policy every freaking year. Each year we contact everyone on the list below for quotes, but this year (2021) we hit a new record: The worst quote we’ve ever received at a whopping $11,300 from LJJ (a Lloyds of London underwriter).
We insure our 2005 Leopard 43 Sailing Catamaran at a value of $320,000 usd.
2016, Florida/Bahamas: $3860
2017, Florida/Bahamas/Panama/Ecuador: $4943
2018, Ecuador/ French Polynesia: $4655
2019, French Polynesia/Cook Islands/Niue/Tonga: $5517
2020, Tonga: $6674
2021, Tonga/New Zealand – $4305 (Brokerage: The Marina Shop NZ)
Who To Contact
Yacht Insurance is a complicated world filled with what feels like way too many cooks in the kitchen. There are insurance brokers, insurance companies (including mutual insurance associations), reinsurance companies, and adjusters. To further confuse things, many of the insurance companies are backed by insurance giants like Markel and Lloyd’s of London.
For simplicity’s sake, we’re breaking this up into 2 groups: Yacht Insurance Brokers and Yacht Insurance Companies.
Finding companies that insure US-flagged vessels and provide coverage in our intended cruising area is difficult. One year a company won’t quote us, the next they will. It changes every year and so even if you don’t get a favorable quote one year, try again next year.
Yacht Insurance Brokers
A broker is who we contact to get the quotes and they may work with or submit our information to 1 or 100 different insurance companies to get quotes. We contact at least half a dozen brokers every year for quotes. TIP : If you’ve already received quotes from certain companies, tell the broker in advance so they don’t spend their time getting you exactly the same quotes. Here are the brokers we contact each year. Ask your fellow sailors for their broker information too.
The Marina Shop (NZ), Contact: Bill Garlick
International Waters Insurance Services, Contact: Susan Waters
Novamar Insurance, Contact: Charlie Bailey
Bailey’s Insurance (NZ), Contact: Ken Monk
W.R. Hodgens Marine Insurance, Contact: Bill Hodgens
Global Marine Insurance Agency, Contact: Susan Everhard
Yacht Insurance Companies
This is who is writing and backing the policy (underwriter, reinsurance). Here are the ones we’ve tried with notes on quotes or responses. Your experience with each will no doubt be different.
Jackline – Will not insure yachts with lithium batteries
Yachtinsure Limited – Not insuring in the S. Pacific
Concept – Medium-High quote, loads of restrictions
LJJ Associates – Highest Quote
Kemah Marine – High Quote, Few Restrictions
Admiral Marine – Only insures European vessels
Chubb Insurance – Cannot quote yachts outside the USA
Club Marine – Only insures coastal cruising (250 nm from land) in AU, NZ, and TAS
Pantaenius – High Rate Quotes for the Atlantic & would not quote us for the S. Pacific
National Specialty Insurance (State National) – Insured us in 2019 & 2020
Global Yacht Cover – Insured us in 2018
DUAL Aqua – Insured us in 2017
Sailing Resume, Boat Resume & Maintenance Log
Probably the biggest lesson we’ve learned is to invest time in creating and maintaining a sailing resume, boat resume, and maintenance log. We’ve had multiple insurance brokers compliment us on our approach with these documents and tell us it does make a big difference.
Sailing Resume
Think of it just like a personal job resume. You can even use the free templates online from Microsoft word or whatever program you have. If you want some examples, search for yacht crew resume and you’ll find bunches. But, here is what we have on ours.
Any professional sailing instruction or certifications (ASA courses). A list or table of the number of days, sizes of vessel, and level of instruction such as basic introduction, skippering training, bareboat charter, off-shore training.
A good headshot of us at the helm.
Any safety instruction or certifications. First Aid, First Responder…we even list our PADI open water certification.
List of boats that you have owned, the type of boat, the size, and for how long.
We include what country or body of water it was in.
We note the nautical miles sailed.
Note if it was a multi-day (list how many days) or overnight passage.
Special endorsements that you have been given by an instructor (ex: catamaran sailing, engine maintenance, maneuvering and docking, heavy weather, etc.). Letters of recommendations from certified captains can help prove competency.
Boat Resume
I haven’t been able to find any examples online but I think of it much like a for sale listing. Lots of photos (front, sides, back, top-down) and I list out every safety benefit I can muster. We include:
Home Port, Registration (US Coast Guard), MMSI number, Hull ID number.
Tender information (and photos): Year, make, construction type, registration, hull ID, engine.
Description of the boat, how it’s known as a bluewater sailboat built for reliable construction, seaworthiness, and performance. With extra emphasis on reinforced construction, sealed bulkheads, high-quality materials…
Images of the layout of the boat from the manufacture (scans of original brochure).
List out all additional upgrades and safety equipment (anything showing redundancy, additional safety, or reliability)
Details of our sail plans for the year (passage from Tonga to New Zealand, coastal waters of New Zealand)
Quick List of Crew and experience. The cliff notes version of our sailing resumes.
Maintenance Log
This one is fairly straightforward. We have photos from our haul-outs and list work completed, upgrades, and replacements.
We have our most recent survey and a signed survey compliance list from the yard proving that we completed the tasks mandated by the marine surveyor. But ask your broker before sending this, if your survey is more than 2 years old they may want you to ‘keep it in your pocket’ and only provide it if the underwriter requests it.
We also keep a maintenance log of our engines and routine maintenance. We let the broker know this is available upon request.
Tips To Get The Best Quote
There are a lot of factors that affect boat insurance costs. The age and condition of the vessel, the cruising area, and your experience all matter. But there are a lot of extra details worth considering.
Select the highest deductible you can afford. Often it’s automatically set at 5%-10% on quotes. If you can afford 15% or 20% it can save a substantial amount each year.
Umbrella Policy: Insure personal articles through another insurance company like homeowners, renter’s insurance, personal items policy, etc.
Be realistic with your estimated values and revisit them each year. If similar boats are selling for $100k don’t try to insure your boat for $150k. If you paid $10k for your RIB 5 years ago, consider lowering the estimated value to reflect the market value.
Limit Emergency Evacuation and Towing benefits. Seek 3 rd party companies as they are sometimes less expensive and provide more comprehensive services. For example DAN (Divers Alert Network) or programs like Sea Tow or Boat US. Also, check with your health insurance company about the costs of adding medical evacuation.
Safety: Upgrade your safety gear like Bilge Pumps, EPRIB, Off-Shore Life vests, Life Raft, Flares, AIS MOB, etc. One insurance company wanted to make sure our vessel had an EXTRA 1500 gph bilge pump that could be easily wired and placed in the bilge for emergencies.
Cruising Plans: Be realistic with your Cruising Plans and understand the navigational limits. Cruising grounds requested can play a big role in coverage and cost. Some countries are considered safer to visit and cost less to insure. For example, it is possible to sail to Cuba, but many insurance agencies will charge an extra premium because navigation aids aren’t kept up and charts aren’t always accurate, making it more challenging to navigate. You can often add locations mid-policy, sometimes for free, or for way less than adding it to your planned navigation route from the start.
Stay out of hurricane or cyclone zones when possible.
Storm Plan: If you boat in a hurricane zone, your insurer may expect you to provide a hurricane plan. If a storm approaches, will you have it stored in a hurricane-proof facility or will you sail it to a safe harbor? How will you secure it? How many anchors & lines do you have, and what thickness? The right answers can affect your rates, maybe even lower them, but be prepared to follow the plan because your coverage may require it.
Lock up your dinghy, and dinghy engine even on the davits. Lock lockers with valuable items like SCUBA compressors, or expensive toys. Take photos for proof. Many of our policies had notes in the “fine print” saying if a dinghy (or locker) wasn’t locked up, they wouldn’t cover the loss.
Recent Marine Survey (Less than 3 Years Old, Proves the Age and Condition of the Vessel).
Install an Automatic Fire Suppression System.
Enlist more crew for passages.
Go propane-free.
Complete higher certifications (such as a Captain’s License).
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Chubb has been a leading provider of yacht insurance for over 100 years, offering some of the most comprehensive policies available for private, pleasure watercrafts. Being on the water is an experience of peace, calm, and new adventures on the horizon. It’s an experience you want to protect. Our Masterpiece® Yacht insurance policy offers superior coverage for pleasure yachts 36 feet or greater in length. And for captained vessels 70 feet or greater in length and valued at $3 million or more, our Masterpiece Yacht Preference policy has the specialty coverages you and your crew need.
Masterpiece® Yacht Policy Highlights
Agreed Value Coverage
We pay the entire agreed amount, with no deductible, for a total loss. With our Masterpiece Yacht Select policy, eligible vessels can receive Replacement Cost coverage up to 120%.
Liability Protection
Limits of coverage to suit your personal needs, including: legal defense costs, liability as required by the Oil Pollution Act of 1990, wreck removal, and Jones Act coverage for paid crew.
Replacement Cost Loss Settlement
Repair or replacement of covered property is paid for without deduction for depreciation for most partial losses.
Uninsured/Underinsured Boater Coverage
Pays for bodily injury to persons aboard the insured watercraft who are injured by an uninsured owner or operator of another vessel.
Medical Payments
Reasonable medical and related expenses are included for all those onboard, boarding or leaving the covered vessel. These benefits are provided on a per person basis, rather than per occurrence. Optional and customized limits are available.
Search & Rescue
Up to $10,000 for the expenses incurred by an insured in relation to a governmental unit such as the United States Coast Guard (USCG) who provide emergency aid and assistance are included for no additional charge. With our Masterpiece Yacht Select option, coverage is available up to $25,000.
Longshore and Harbor Workers’ Compensation Act (LHWCA)
When Liability coverage is purchased, coverage is automatically provided for those employed aboard the vessel who are within the jurisdiction of the LHWCA.
Personal Property & Fishing Equipment Coverage
Protection is automatically included for the clothing, personal effects and fishing gear of the boat owner and their guests. Optional higher limits are available.
Coverage for Marinas as Additional Insured
Marinas, yacht clubs and similar facilities where clients keep their vessels are included as Additional Insureds.
Trailer Coverage
We automatically include coverage up to $5,000 for your trailer used with your insured vessel. Higher limits are available.
Emergency Towing & Assistance
Our policy includes this coverage with optional higher limits available.
Boat Show & Demonstration Coverage
We automatically provide this coverage, at no additional charge.
Precautionary Measures
We will pay up to the policy limit the reasonable costs incurred to haul, fuel or dock the insured watercraft endangered by a covered peril.
Bottom Inspection
We will cover the reasonable costs to inspect the bottom of an insured vessel after grounding, stranding, or striking a submerged object. There is no deductible for this coverage.
Oil Pollution Act of 1990 (OPA) Coverage
If Liability coverage is purchased, our policy provides coverage in addition to the Liability limit, up to the required OPA statutory limits, regardless of the Liability limit chosen. Additionally, if the OPA statutory limit is increased in the future, our policy will automatically increase the applicable OPA limit to match the new higher statutory limits.
Temporary Substitute Watercraft
Up to $5,000 to charter a temporary substitute watercraft if the insured vessel is out of commission due to a covered loss and cannot be repaired within 72 hours. With our Masterpiece Yacht Select policy offering, the limit of Temporary Substitute Watercraft is increased to $10,000.
Marine Environmental Damage Coverage
This feature provides protection up to $10,000 for fines and penalties as a result of marine environmental damage, as defined by the policy terms. Coverage is provided in addition to the insured's applicable Liability and OPA limits. With our Masterpiece Yacht Select policy offering, the limit of Marine Environmental Damage Coverage is increased to $25,000.
57% of boating accidents happen on calm days with waves less than 6 inches.
Chubb offers some of the most comprehensive protection and services available rain or shine.
*Source: 2016 Recreational Boating Statistics, United States Coast Guard
Masterpiece Yacht Preference
Masterpiece Yacht Preference fulfills the specialty insurance needs of luxury yacht owners with captained vessels 70 feet in length and greater, valued at $3 million or more.
No depreciation applies on the following items
Machinery inside the hull, Personal Property, dingy/tender, and Personal Watercraft.
Emergency Towing Service
We include coverage up to the amount of Property Damage with no deductible.
The medical payments limit offered is on a per occurrence basis, and we will pay costs incurred up to three years from the date of occurrence.
Marina as Additional Insured
The marina, yacht club, or similar facility where the insured yacht is docked, moored, or stored is included as an Additional Insured.
Captain and Crew Coverage
Liability coverage is extended to the captain and crew members serving aboard the insured yacht.
Defense Costs
Defense costs are included in addition to the limit of liability and includes up to $50,000 loss of earnings.
Mooring or Slip Rental Agreement Waiver
When waiver of subrogation is required through a written contract by a yacht club, marina, or similar facility used for the purpose of storage or slip rental, our Masterpiece Yacht Preference policy will permit an insured to waive their rights of subrogation.
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Third party boat insurance
Basic boat insurance for sailing enthusiasts.
Third party liability insurance is essential cover for boat owners. It provides protection against claims from third parties for damage to their property or for injury or death that may arise from the use of your boat.
Our features and benefits
£3,000,000 limit of indemnity
Cover in all UK and European waters
Up to £15,000 costs for removal of wreck where it's your legal liability to do so
No requirement for a survey
No excess on claims.
Plus a key optional extra, if you need it
Cover for liability whilst towing water-skiers (on sports boats)
Having basic boat liability insurance such as third party cover is often a requirement for using inland waterways, to launch your boat, or to keep it in a marina.
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Buy online today using our quick quote and buy – our experts are always on hand to support you.
What's covered in our third party liability insurance?
Simply put, you'll have £3 million cover for all sums that you legally have to pay as a result of owning your boat, including:
Death or, injury to third parties, including your passengers
Damage to property owned by third parties
Cover for removal of wreck where you are legally liable (up to £15,000)
Please note this list is not exhaustive – refer to full policy document for details.
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Having boat insurance specialists do the hard work for you will help you enjoy your hobby with confidence and peace of mind.
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Represent your interests at the time of a claim to get you the very best outcome
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Our dedicated team loves to answer your questions and go the extra mile wherever they can. And we’re not just boat experts, we’re also experts in:
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Frequently Asked Questions
Where am i covered.
The UK and all European Waters.
Who can use my boat?
You and any suitably experienced friends or family members you give permission to use.
Will I need a survey on my boat?
Can i increase my cover from £3 million.
It may be possible to increase this cover (at an additional third party boat insurance cost). Please contact the team with your requirements and they will be happy to help.
Is wreck removal covered?
Where you are legally liable, the insurer will pay up to £15,000 towards removal of wreck.
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Insurance without a survey
Thread starter JimDL
Start date 22 Dec 2012
22 Dec 2012
Could anyone recommend an insurance company that don't insist on a survey? I'm a marine engineer, I do all my own work on my boat. Insurance companies I have spoken with insist on a survey, I don't really want to spend money on a survey and I certainly wouldn't put to sea in an unsafe vessel. I have told them this but they still insist it needs a survey from a certified surveyor.
Well-known member
Craftinsure, have never asked me for one. Easy to get a quote and deal with both online and telephone.
That's great thanks Spottydog, I will get on to them.
GJW do survey free insurance for Sabres for mrmbers o the owners association if that is any help or hint> Regards Ian & Jo
Active member
JimDL said: Could anyone recommend an insurance company that don't insist on a survey? I'm a marine engineer, I do all my own work on my boat. Insurance companies I have spoken with insist on a survey, I don't really want to spend money on a survey and I certainly wouldn't put to sea in an unsafe vessel. I have told them this but they still insist it needs a survey from a certified surveyor. Click to expand...
Your welcome, been with them for many years, no claims experience though (I'm pleased to say )
Navigators and General... ... Have never asked me for a survey. Plus they let me stay afloat all year round. Mind you my three boats were not expensive £1700, £5500 and current one £10000. Might be different with high value boats.
jonathanhsm
Insurance no survey I'm with yachting24 very efficient so far but never claimed.
Thanks all, I will have a look at the companies suggested. I never had a problem 10 years ago with my last yacht. I would insure her for around £12000.
Try 'Basic Boat' 3rd party cover only though.
Dont think you will have a problem with age/value. Mine is 30 years old next year, value >100k. Can you post some pictures of your Galion ?
Ah yes, I have tried but not being very computer minded it didn't happen. I think I need to resize them or something. Better get SWMBO on to it.
I find the easiest way is to upload to photobucket and copy the link. Sorry for the fred drift.
Flaw in the plan with craftinsure; .....If over 20 years old, and more than 23' in length, she will have a survey report not more than 3 years old from a qualified yacht surveyor with all the recommendations complied with
daveyw said: Flaw in the plan with craftinsure; .....If over 20 years old, and more than 23' in length, she will have a survey report not more than 3 years old from a qualified yacht surveyor with all the recommendations complied with Click to expand...
http://www.yachtline.co.uk/index.htm Insured my MAB without a survey, but I suspect it depends on your valuation of your vessel.
Just trying to sort photo bucket.. Goldeneye was built in 1971, she's even older than me. I have a friend who is a surveyor if needs be. I will exhaust all options first though.
SpottyDog5 said: I read that as, they will want sight of it, at the time of any claim, poses the question, if they require a survey to carried out every three years to comply? I will need to confirm.. Click to expand...
NorthUp said: http://www.yachtline.co.uk/index.htm Insured my MAB without a survey, but I suspect it depends on your valuation of your vessel. Click to expand...
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COMMENTS
List of insurers that don't require a survey
Location: somewhere in Mexico. Boat: 99 Island Packet 380. Posts: 203. Re: List of insurers that don't require a survey. State Farm didn't either for our old boats, which were on a lake. I doubt that any of your usual home/auto insurers will require a survey, but the actual marine insurance companies all will.
Do You Need a Survey for Boat Insurance?
Get boat insurance without a survey. Online. We'll ask easy questions about you and your boat, then you can choose coverages. Get a boat insurance quote online. Call a rep. You'll speak with a licensed representative who will guide you through everything. Call 1-866-749-7436. Through an agent.
Liability-Only Boat Insurance
If you own an older boat, you may not need full coverage and can save money with liability-only insurance. Marine Underwriters offers liability insurance with medical payments, uninsured boater coverage and no survey required.
Liability Only
Boat and PWC policies are underwritten by GEICO Marine Insurance Company with administrative offices at 5323 Port Royal Road, Springfield, VA 22151. GEICO Marine Insurance Company is domiciled in Omaha, NE, and coverage is offered in all 50 states and the District of Columbia to boat owners with a U.S. address.
Yacht Insurance
Markel US offers yacht insurance for over 45 years, with more complete coverage than any other carrier at no additional cost. Find a Markel marine agent and get a free, no-obligation quote for your yacht, sailboat, sport fishing boat, trawler or house boat.
Boat Insurance: Get a Free Quote in Minutes
Progressive offers boat insurance for various types of watercraft, with discounts for multi-policy, original owner, and safety course. Get a quote online and see coverages for liability, collision, towing, and more.
Can I Get Boat Insurance Without a Survey?
However, not all boat insurance policies require a survey. Some insurance companies may offer policies that do not require a survey, but the coverage and premiums may be different from those that do require a survey. In this article, we will explore whether you can get boat insurance without a survey and what factors you should consider before ...
Sailboat insurance: an essential guide
Understanding your sailing insurance quote. Generally, insurance costs fall within a range of 1% to 5% of the boat's value. But, it isn't merely an arbitrary number pulled out of thin air; it's a meticulously calculated figure embodying many components. For starters, the deductible, or the sum you're prepared to fork out in the event of a claim ...
Boat Insurance Coverage for Your Watercraft: Get a Quote
USAA offers boat insurance for most types of watercraft, from personal watercraft to yachts, with discounts for members and safety courses. Learn about the coverage options, costs and requirements for different types of boats and personal watercraft.
Navigating Boat Insurance Without a Survey Simplified Solutions from
Typically, marine insurance companies require a detailed survey of a vessel before offering coverage. This process assesses the boat's condition, value, and the risks associated with insuring it. While beneficial for assessing a boat's insurability, surveys can be time-consuming and costly, creating a barrier for many owners eager to get ...
A Guide to Boat Surveys for Insurance
The cost of a boat survey for insurance is usually charged by the size of the boat, typically per foot. You can generally expect to pay around $20 per foot. In addition to vessel length, boat survey costs may be affected by the age of the boat and its construction type. Very old boats may cost more to inspect, as well as boats with multiple hulls.
Can You Get Boat Insurance Without a Survey?
Understanding Boat Insurance. As a boater, you are probably aware of the importance of boat insurance. Boat insurance protects you from financial losses in case of accidents, theft, or in case of any liability claims. Many people think that boat insurance is not necessary, but the truth is, it is just as important as car insurance.
Boat Liability Insurance
Learn how boat liability insurance covers you from financial disaster if you cause an accident or injury on the water. Find an independent agent to help you get the best coverage and compare quotes from different providers.
How To Make Yacht Insurance Suck Less
And without a doubt, yacht insurance has been the most unexpected pain in the arse! We'd always been told: Getting sailboat insurance the first year would be a challenge. ... Recent Marine Survey (Less than 3 Years Old, Proves the Age and Condition of the Vessel). Install an Automatic Fire Suppression System. Enlist more crew for passages.
Understanding boat insurance
Learn about the basic sections and coverages of boat and yacht insurance policies, and how to choose the right one for your needs. Compare physical damage, liability, personal property, emergency towing, and other important coverages offered by Chubb.
Yacht Insurance
Chubb offers superior protection for yachts 36 feet or greater in length, with agreed value coverage, liability limits, replacement cost settlement, and more. For captained vessels 70 feet or greater and valued at $3 million or more, Chubb provides specialty coverages such as no depreciation, emergency towing, captain and crew coverage, and defense costs.
Third party boat insurance
No requirement for a survey; No excess on claims. Plus a key optional extra, if you need it. Cover for liability whilst towing water-skiers (on sports boats) Having basic boat liability insurance such as third party cover is often a requirement for using inland waterways, to launch your boat, or to keep it in a marina.
Any insurers not requiring a survey?
Visit site. Mandarin331 said: Thanks for all the input, GJW and Nav & General both offered prices without survey due to size and value, however in the end the current owners' insurers agreed to keep insuring the boat without a survey so we'll go with that for the first year. That was a result.
Insuring Your Wooden Boat
A list of insurance companies that focus on classic wooden boats, owner-built boats, and other small craft. Find out the qualifications, coverage options, and contact information for each company.
Do all insurers require a survey?
I think you will find all insurance co's will expect a survey every 5 to 7 years depending on boat and the sailing area required . they might give you 3 party or/and put a load of exclusions if you take policy untill survey. It seems to be the norm now.Up till 6 or 7 years ago I never got asked for a survey. 25 Aug 2009.
Insurance without a survey
Insured my MAB without a survey, but I suspect it depends on your valuation. of your vessel. And mine. 51 years old, wooden. I was asked to self certify the sea worthyness and I while not required, I offer a list of the restoration work each year. I think that a survey is needed if your boat is worth over £9 or £10K.
Third party boat insurance from Navigators & General
Benefits of our Third party cover. No survey requirements or costs. £3 million liability protection against passenger or third party claims. Cover for pollution related costs and fines. Permitted use of your craft by others. Legal liabilities protection whilst you are in charge of another vessel. Direct access to our claims team and underwriters.
IMAGES
VIDEO
COMMENTS
Location: somewhere in Mexico. Boat: 99 Island Packet 380. Posts: 203. Re: List of insurers that don't require a survey. State Farm didn't either for our old boats, which were on a lake. I doubt that any of your usual home/auto insurers will require a survey, but the actual marine insurance companies all will.
Get boat insurance without a survey. Online. We'll ask easy questions about you and your boat, then you can choose coverages. Get a boat insurance quote online. Call a rep. You'll speak with a licensed representative who will guide you through everything. Call 1-866-749-7436. Through an agent.
If you own an older boat, you may not need full coverage and can save money with liability-only insurance. Marine Underwriters offers liability insurance with medical payments, uninsured boater coverage and no survey required.
Boat and PWC policies are underwritten by GEICO Marine Insurance Company with administrative offices at 5323 Port Royal Road, Springfield, VA 22151. GEICO Marine Insurance Company is domiciled in Omaha, NE, and coverage is offered in all 50 states and the District of Columbia to boat owners with a U.S. address.
Markel US offers yacht insurance for over 45 years, with more complete coverage than any other carrier at no additional cost. Find a Markel marine agent and get a free, no-obligation quote for your yacht, sailboat, sport fishing boat, trawler or house boat.
Progressive offers boat insurance for various types of watercraft, with discounts for multi-policy, original owner, and safety course. Get a quote online and see coverages for liability, collision, towing, and more.
However, not all boat insurance policies require a survey. Some insurance companies may offer policies that do not require a survey, but the coverage and premiums may be different from those that do require a survey. In this article, we will explore whether you can get boat insurance without a survey and what factors you should consider before ...
Understanding your sailing insurance quote. Generally, insurance costs fall within a range of 1% to 5% of the boat's value. But, it isn't merely an arbitrary number pulled out of thin air; it's a meticulously calculated figure embodying many components. For starters, the deductible, or the sum you're prepared to fork out in the event of a claim ...
USAA offers boat insurance for most types of watercraft, from personal watercraft to yachts, with discounts for members and safety courses. Learn about the coverage options, costs and requirements for different types of boats and personal watercraft.
Typically, marine insurance companies require a detailed survey of a vessel before offering coverage. This process assesses the boat's condition, value, and the risks associated with insuring it. While beneficial for assessing a boat's insurability, surveys can be time-consuming and costly, creating a barrier for many owners eager to get ...
The cost of a boat survey for insurance is usually charged by the size of the boat, typically per foot. You can generally expect to pay around $20 per foot. In addition to vessel length, boat survey costs may be affected by the age of the boat and its construction type. Very old boats may cost more to inspect, as well as boats with multiple hulls.
Understanding Boat Insurance. As a boater, you are probably aware of the importance of boat insurance. Boat insurance protects you from financial losses in case of accidents, theft, or in case of any liability claims. Many people think that boat insurance is not necessary, but the truth is, it is just as important as car insurance.
Learn how boat liability insurance covers you from financial disaster if you cause an accident or injury on the water. Find an independent agent to help you get the best coverage and compare quotes from different providers.
And without a doubt, yacht insurance has been the most unexpected pain in the arse! We'd always been told: Getting sailboat insurance the first year would be a challenge. ... Recent Marine Survey (Less than 3 Years Old, Proves the Age and Condition of the Vessel). Install an Automatic Fire Suppression System. Enlist more crew for passages.
Learn about the basic sections and coverages of boat and yacht insurance policies, and how to choose the right one for your needs. Compare physical damage, liability, personal property, emergency towing, and other important coverages offered by Chubb.
Chubb offers superior protection for yachts 36 feet or greater in length, with agreed value coverage, liability limits, replacement cost settlement, and more. For captained vessels 70 feet or greater and valued at $3 million or more, Chubb provides specialty coverages such as no depreciation, emergency towing, captain and crew coverage, and defense costs.
No requirement for a survey; No excess on claims. Plus a key optional extra, if you need it. Cover for liability whilst towing water-skiers (on sports boats) Having basic boat liability insurance such as third party cover is often a requirement for using inland waterways, to launch your boat, or to keep it in a marina.
Visit site. Mandarin331 said: Thanks for all the input, GJW and Nav & General both offered prices without survey due to size and value, however in the end the current owners' insurers agreed to keep insuring the boat without a survey so we'll go with that for the first year. That was a result.
A list of insurance companies that focus on classic wooden boats, owner-built boats, and other small craft. Find out the qualifications, coverage options, and contact information for each company.
I think you will find all insurance co's will expect a survey every 5 to 7 years depending on boat and the sailing area required . they might give you 3 party or/and put a load of exclusions if you take policy untill survey. It seems to be the norm now.Up till 6 or 7 years ago I never got asked for a survey. 25 Aug 2009.
Insured my MAB without a survey, but I suspect it depends on your valuation. of your vessel. And mine. 51 years old, wooden. I was asked to self certify the sea worthyness and I while not required, I offer a list of the restoration work each year. I think that a survey is needed if your boat is worth over £9 or £10K.
Benefits of our Third party cover. No survey requirements or costs. £3 million liability protection against passenger or third party claims. Cover for pollution related costs and fines. Permitted use of your craft by others. Legal liabilities protection whilst you are in charge of another vessel. Direct access to our claims team and underwriters.