Survey before insurance will renew?

[Justin_NSA]

Has this happened to anyone else? We've had BoatUS insurance for 20+ years. Never filed any claims. When we bought our Hunter 30T in 2015, BoatUS accepted pictures of specific places on the boat to verify the condition. It seems now that since GEICO has stepped in, they want us to have a formal survey before we can renew our policy. This is Kansas! There aren't any licensed surveyors for hundreds of miles!
I think that even though our policy premium is low, and over time they removed the deductible, it may be time to switch. I am looking at adding Bella to our USAA home and auto policy bundle. They use Progressive for marine insurance. Thanks for letting me vent!

 

[dlochner]

It is not uncommon for insurance companies to require a survey on older boats, typically over 30 years old. I had to have one done this year as Second Star is now 32 years old.

Insurance companies are right about being skittish when insuring older boats. Well maintained older boats are fine, however, many older boats gradually become less well maintained and subject to being abandoned. It also takes less damage to declare an older boat a total loss, so there is greater risk for the company. Once a boat is totaled and the owner paid, the insurance company is left with an unsaleable boat that they must pay to have destroyed and trashed.

If you have been otherwise happy with BoatUS/Geico, give them a call and explain the situation, you might be able to work something out.

 

[Richard19068]

Has this happened to anyone else? We've had BoatUS insurance for 20+ years. Never filed any claims. When we bought our Hunter 30T in 2015, BoatUS accepted pictures of specific places on the boat to verify the condition. It seems now that since GEICO has stepped in, they want us to have a formal survey before we can renew our policy. This is Kansas! There aren't any licensed surveyors for hundreds of miles!
I think that even though our policy premium is low, and over time they removed the deductible, it may be time to switch. I am looking at adding Bella to our USAA home and auto policy bundle. They use Progressive for marine insurance. Thanks for letting me vent!

I got the same notice from BoatUS/ Geico with this years renewal in May. Also been with them over 20 years with no claims. The notice says I will need a survey before renewing next year, May 2026, so no problem for this year. I did some searching around and found that Progressive did not require a survey and had a similar or lower premium for comparable coverage.

I called Geico and they said they couldn't waive the survey requirement.

Not sure which way I will go next year.

 

[Michael Davis]

Up here you need a survey every five years for insurance. Probably some insurance salesman wants to be a surveyor.

 

[Hello Below]

Up here you need a survey every five years for insurance.

The first survey will be required once a new boat is 20 years old then every 5 years after that.

 

[Michael Davis]

The first survey will be required once a new boat is 20 years old then every 5 years after that.

I guess that shows how new the boats I have are. Sun Gypsy is 41 this year.

 

[FastOlson]

The OP will want to do some searching on threads, here and at SailNet, about the changes (degradation... ) in service that resulted from Geico buying out BoatUS, about 2017. I am probably just one of many owners that have found a new insurer. In our case we placed the insurance thru a boat insurance *broker. I also had a new survey done before doing that, and the result was that we were quickly picked up by another national insurer. I recall that it took less than a couple days to get insured.
* Boat Insurance | Seattle

 

[Justin_NSA]

If you have been otherwise happy with BoatUS/Geico, give them a call and explain the situation, you might be able to work something out.

I've called twice and they won't budge.

 

[Justin_NSA]

The OP will want to do some searching on threads, here and at SailNet, about the changes (degradation... ) in service that resulted from Geico buying out BoatUS, about 2017. I am probably just one of many owners that have found a new insurer. In our case we placed the insurance thru a boat insurance *broker. I also had a new survey done before doing that, and the result was that we were quickly picked up by another national insurer. I recall that it took less than a couple days to get insured.
* Boat Insurance | Seattle

I'll probably switch to USAA/progressive. Home and auto is with them

 

[Foswick]

I had been with Geico for about 15 years with no claims on a 1972 boat. They never required a survey except, perhaps, when I first bought the boat (I don't recall since I was getting the survey anyway). When I went to insure my new boat (a 1975), they said they would not insure a boat that old ... at all. When I asked why they took my money for 15 years for my 1972 boat, but would not take my money for a 1975 boat because it was too old, they got really stupid - initially claiming that they were not insuring any 1972 boats, then finally admitting that they were, indeed insuring my boat because it had been "grandfathered". Then, they told me that now insurer would insure a boat that old.

I went to Progressive's website and had a MUCH better policy for just a few dollars more, in about 10 minutes - no hassle, no hoops to jump through.

 

[jackhart]

Has this happened to anyone else? We've had BoatUS insurance for 20+ years. Never filed any claims. When we bought our Hunter 30T in 2015, BoatUS accepted pictures of specific places on the boat to verify the condition. It seems now that since GEICO has stepped in, they want us to have a formal survey before we can renew our policy. This is Kansas! There aren't any licensed surveyors for hundreds of miles!
I think that even though our policy premium is low, and over time they removed the deductible, it may be time to switch. I am looking at adding Bella to our USAA home and auto policy bundle. They use Progressive for marine insurance. Thanks for letting me vent!

My old boss man was an insurance adjustor for a bit. One of his favorite sayings was this; 'it's easier to get rid of a venereal disease than a GEICO claim!'
And that was many years ago!

 

[surfstud31]

Perhaps I can help clear up some of this insurance stuff as a 30+ year State Farm Agent. Although I can only speak for my company. I insure my 1995 Beneteau with State Farm & no survey was needed. It often helps if you already have business with the insurance company - like your home & auto. Another price point is where you’ll be using the boat: lake, coastal cruising, or ocean voyages. Another rating factor is your experience: have you owned a boat of this type before? These factors will dictate the price you pay or if you can even get the insurance. Every insurance company is different & some may require a survey on older boats. There is no one set of underwriting requirements for all insurance companies.

 

[FastOlson]

I'll probably switch to USAA/progressive. Home and auto is with them

Similar to our understanding-- Home and auto, with USAA.
USAA does not insure yachts, however, or so they told me.
(Of course they might be more interested if you had been an officer.... I was only a lowly petty officer... )

 

[Justin_NSA]

Perhaps I can help clear up some of this insurance stuff as a 30+ year State Farm Agent. Although I can only speak for my company. I insure my 1995 Beneteau with State Farm & no survey was needed. It often helps if you already have business with the insurance company - like your home & auto. Another price point is where you’ll be using the boat: lake, coastal cruising, or ocean voyages. Another rating factor is your experience: have you owned a boat of this type before? These factors will dictate the price you pay or if you can even get the insurance. Every insurance company is different & some may require a survey on older boats. There is no one set of underwriting requirements for all insurance companies.

I found this to be accurate while I was requesting a quote from USAA/Progressive. They asked my sailing experience, how it will be used, did I have insurance with them already etc. Nothing about a survey. Not that we shouldn't be inspecting our boats for existing and potential problems.

 

[Justin_NSA]

Similar to our understanding-- Home and auto, with USAA.
USAA does not insure yachts, however, or so they told me.
(Of course they might be more interested if you had been an officer.... I was only a lowly petty officer... )

Are they being petty

 

[BigEasy]

Same here. Boat at 15 years old and 10 years insured with no claims, insurer demanded a survey. Minimal price increase; however, new stipulation is that boat can not be in Florida from June thru October and boat is already on Gulf Coast! Time to shop for new policy.

 

[Calif. Ted]

Just thinking that at 23 my current boat is the oldest I've ever owned. I've had Progessive for a couple decades and 3 boats under the same policy. I was advised to not cancel my policy between boats, just make it "inactive" (no premium) and add the new boat when I got it. They do or did have someone on staff who knew keel boats, he called me once. I've never had a claim so can't comment on that aspect.

 

[Maine Sail]

Similar to our understanding-- Home and auto, with USAA.
USAA does not insure yachts, however, or so they told me.
(Of course they might be more interested if you had been an officer.... I was only a lowly petty officer... )

Yep I have been with USAA my entire life, they're amazing but, will not insure big boats with any real value..

 

[Justin_NSA]

Just an aside: I was talking to one of our sailing members Saturday who keeps a boat moored in Tortola. His insurance says he has to haul his boat out and put it on stands - hurricane season is approaching. I would have thought it would be safer in the water and not sitting in a row of other boats waiting to be knocked over like dominos!

 

[dlochner]

Just an aside: I was talking to one of our sailing members Saturday who keeps a boat moored in Tortola. His insurance says he has to haul his boat out and put it on stands - hurricane season is approaching. I would have thought it would be safer in the water and not sitting in a row of other boats waiting to be knocked over like dominos!

The boat are strapped down to anchor points in concrete or helix anchors. I've also heard that ditches are dug, the boats set in the ditches with tires between them and anchored down.