Whether you purchased a vessel for personal or professional usage, marine insurance is always recommended. This will not only provide you peace of mind when sailing and storing your boat, but it will also help you save money if something goes wrong. But the query that nearly all new boat owners have is, “How long does a boat survey last for insurance?” This post answers this question from two perspectives.
How long does a boat survey last for insurance purposes in Annapolis? This question cannot be answered simply. This is due to the varying rules that insurance companies follow. While some only accept marine survey reports that are no older than two years, others may take boat survey reports as old as five years.
In addition to the requirements set by an insurance provider, the validity of an insurance boat survey will depend on a number of factors. Principally, these factors include:
- Age of the boat. Older boats are a high risk and insurance providers will often require a fresh survey before offering a policy
- Type of boat. Wooden vessels have to be inspected every 2 to 3 years.
- Changes made to a boat. If you have made major repairs or upgrades to the boat since the last survey, you will need a fresh survey in order to capture the current condition of the vessel.
- Use of the boat. Commercial vessels are exposed to extreme conditions and thus require frequent surveys.
Duration of an insurance survey
The duration of the inspection for purposes of insurance is also dependent on a number of things. They include:
- The size and type of the vessel,
- The complexity of the inspection,
- The qualifications and availability of the surveyor.
A boat survey for insurance purposes typically lasts a few hours to a full day or longer. The insurance company will often offer a list of items that need to be inspected. The survey will take longer to complete if the list is long.
Smaller boats might only need a quick assessment, but larger boats or those with more complex systems and structures might need a more thorough inspection that could last all day or more. The surveyor may need to gain access to various components of the boat, including the hull, deck, machinery, and electrical systems. They may also need to do sea trials to assess the boat’s handling and performance.
All things considered, it is always advisable to acquire a rough estimate of how long the boat survey will take for insurance purposes by speaking with your marine surveyor. An insurance provider will let you know if your current boat survey report is still acceptable.
How Long Does a Boat Survey Last for Insurance
The excitement of becoming a boat owner often causes people to overlook a lot of things. This is more so when buying a used boat. It is only after the excitement dies down that people start noticing that they made a mistake or they could have gotten better for the same price. With that in mind, the answer to the question of whether should I get a boat survey before buying in Annapolis is definitely a resounding yes.
The last thing you want after paying top dollar for a vessel is to find out that you will have to pay even more to make the boat seaworthy. This happens when you fail to do a thorough inspection. Here are the top reasons why the answer to the question of whether should I get a boat survey before buying is yes.
Fuel Tanks May Have to be Replaced
Fuel tanks that are installed under the deck are likely to need special attention after a certain number of years. Considering they may be hidden away, you will need an experienced boat surveyor to assess them. In many cases, when a boat is old, the fuel tank will need to be replaced. This is more so if the tank has saltwater leaks or held ethanol-laced gasoline. Needless to say, these replacements can be expensive. If a replacement is required, you need to learn about it early so that you can factor it in during negotiations with the seller.
Plastic Through-Hull Fittings
One thing you need to understand is that the plastic through-hull drains that are located above the waterline are vulnerable to UV degradation. After years of exposure to the hot sun, these fittings can become brittle and break easily. If they fail, you will start seeing light through holes in the hull. Unless you learn about the history of the boat including how it was used and where it was stored, you will not be able to know if these parts need to be replaced. An experienced marine surveyor will help you understand the condition of the plastic through-hull fittings and if they need to be replaced.
Modern boats have digital electric steering systems. They are more reliable. However, whether the boat you are after uses an electric steering system or an older system, you have to make sure that that system is working properly. Otherwise, you will be exposed to great risks when sailing. A boat survey can help determine if the steering system is in good condition.
The above are just some of the areas you must focus on in a boat inspection. Keep in mind that this list is incomplete. There are a lot more areas that need to be inspected and they may cost a lot of money to repair or replace. It is only with a thorough marine survey that you will be able to identify issues and negotiate for the best price.
Should I Get a Boat Survey Before Buying
When applying for marine insurance, one of the key things you will most likely be required to provide is a marine insurance survey. This is a professional report from a marine surveyor that gives details on the exact condition of the boat as well as its fair market value. A common question most boat owners ask is this, how long does a boat survey last for insurance in Annapolis? This is a very good question, especially when considering you don’t want to keep paying for an insurance survey every time you want to renew your boat insurance.
There is no definitive answer to the question of how long does a boat survey last for insurance. This is because the validity of a marine insurance survey can vary depending on the specific requirements of the insurance company, the type of vessel, and the risk factors associated with the vessel.
Typically, insurance surveys are conducted every 3 to 5 years for vessels that are in commercial use, such as cargo ships or passenger vessels. For smaller pleasure boats, insurance surveys may be required every 2 to 3 years. This period is, however, not fixed. There are times when an insurer may require you to get a new insurance survey done much sooner or later. This is because every insurance company has its own requirements when insuring a vessel.
While an insurer has a big part to play in determining how often you need a new survey, it is important to note that the validity of the survey may also be contingent on any recommendations made by the surveyor. If the survey identifies any issues that need to be addressed, the insurance company may require that these issues be resolved before the policy can be renewed.
The type of boat you own also has a part to play. In addition to the use and size of the boat, you may need to get an insurance survey done sooner if you own a wooden vessel. This is because wooden vessels are more prone to damage. You will have to supply the insurer with a new survey report every 2 to 3 years when you own a wooden boat.
Ultimately, the specific requirements for the validity of a marine insurance survey will depend on the policies and procedures of the individual insurance company. It is important to check with your insurance provider to ensure you are meeting their requirements for regular surveys and vessel maintenance. The insurer will also give you a list of items that need to be looked at in a survey. Make sure you request for this list before you initiate the survey.
How Long Does a Boat Survey Last for Insurance
Do you need a survey for boat insurance in Annapolis? This is the most frequent query from new boat owners. The best answer is ‘it depends’. While some insurance companies would insist on a survey, others might not. If your boat is brand new, you might be exempted from providing a survey report even from insurers that demand a survey. Moreover, even for brand-new vessels, you might be asked to submit a survey report if the vessel is too big or too expensive. As you can see, talking to your insurer is the best way to find out if you will need to provide a survey report or not.
Now that you have the answer to the question of do you need a survey for boat insurance in Annapolis, let’s look at why getting a survey done is crucial. As you may already be aware, an insurance boat survey typically includes a wide range of factors linked to the worth and condition of a boat. Depending on the type of vessel, its size, age, and intended usage, as well as the particular criteria of the insurance company, the survey’s precise scope may change. Here are a few typical areas that an insurance survey might touch on.
- Hull inspection. The first thing that ought to be looked at in a marine survey is the hull. In this case, the surveyor will be looking at everything that relates to the hull. This includes the bottom planking, keel, stringers, and frames. The objective here will be to check for signs of rot, and other damage to the structural integrity.
- Deck inspection. Once the hull has been inspected, the marine surveyor will start inspecting the cabin, deck, and other structures for leaks and other damages. The goal is to ensure the boat is safe and seaworthy.
- Electrical and mechanical systems inspection. The surveyor will take a look at the generators, engines, wiring, batteries, and all other electrical systems. The goal is to ensure both the mechanical and electrical systems are working properly.
- Inspection of the safety equipment. The life jackets, distress signals, fire extinguishers, and other safety equipment have to be looked at to ensure they meet regulations.
- Navigation equipment. Is the radar, GP, and depth finder equipment working properly? This will be included in a boat survey.
As you can see, an insurance survey involves a lot of steps. At times, a haul-out and a sea trial may be required. Finding a reputable marine surveyor in Annapolis who is not just knowledgeable but also accredited is the key. In order to find out what should be in the survey report, you will also need to speak with your insurer.
Do You Need a Survey for Boat Insurance