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.