How Long Does a Boat Survey Last for Insurance in Annapolis?

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