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Go Back   SailNet Community > Out There > Cruising & Liveaboard Forum > How do I get insurance and how much does it cost?
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Thread: How do I get insurance and how much does it cost? Reply to Thread
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Topic Review (Newest First)
03-21-2013 12:53 PM
deltaten
Re: How do I get insurance and how much does it cost?

I had a previous quote for the "major carrier" for near $324/yr. They required a survey, which would total more than $325 for an "out of water" job.

I called the prospective marina and, while they require insurance, they have no "minimums" and "just what everyone else carries" was the answer./
I then called the more 'progressive' carrier. I had a few questions on the web-site application. They had no survey requirements; but recommended the upgrade to 250/500/100K coverage. Area include ALL coastal US water s out to 75 mi. offshore..as compared to the "other" , which would only cover to the end of the Bay. THe second quote also included a $500 each occurrence tow insurance, which I believe to be unlimited.

All that for the same or less money... and NO survey! Now, I realize it's all in the fine print; but......
03-20-2013 11:33 PM
Alex W
Re: How do I get insurance and how much does it cost?

There are less expensive surveyors in the area if you do decide to go that route. I think I paid $13/foot to have my Pearson surveyed.

Getting the boat hauled _is_ useful. You really don't know what is going on below without it. Diving won't let you see blisters very easily or see something like the Catalina smile (also common on C&Cs and other boats, where the keel stub is having issues). I didn't get my Catalina 25 hauled (the new owner did haul it recently) and never really knew what was going on below as a result. It was great to finally see it out of the water.
03-20-2013 09:02 PM
northoceanbeach
Re: How do I get insurance and how much does it cost?

$20 a foot. Sorry. I got a quote for insurance. Full coverage quite cheap. I had I call around. Some places require a survey, some didn't. It depended on value, age, and size.
03-20-2013 06:06 PM
Alex W
Re: How do I get insurance and how much does it cost?

I don't know how you got to $1000.

$2/foot is $46. I assume you meant something else like $12/foot, which would be $276.

A haul out at Sea Marine is $7/foot for haul out, plus $2.50/foot for environmental fee. The total costs should be somewhat under $600.

If this is valuable to you is up to you. Have you checked with your insurance? I'm guessing that they don't require a survey on a <$10k boat (and the limit might be a lot higher).
03-20-2013 04:49 PM
northoceanbeach
Re: How do I get insurance and how much does it cost?

I did call a marine surveyor in Port Townsend to see if I could have someone come take a look at a boat pre-purchase.

They said they didn't really do in the water surveys.

They had at least a week wait.

Their fee was $2 per foot, plus travel expenses.

And I had to arrange and pay for a haulout. The haulout facility in Port Townsend doesn't operate on weekends.

So....to MAYBE buy a $4200 boat, I have to pay over a thousand dollars, convince the owner to take a day off work and help me haul it, and stand around all day for a survey.

What kind of negotiating power am I going to have after I payed a thousand dollars? Am I going to sit there and then try to get him down to $3900? He knows I have no negotiating power at this point.

This may work for $100000 boats. I don't see why the surveyor can't come and do an in water inspection in port townsend to spend about an hour checking what can be checked. For the kind of money they charge they should come with a wetsuit and dive, and climb the mast, because that was the other thing, they don't go up the mast. For their crazy fee, I'm still left wondering if all the cotter pins are in the shrouds at the masthead.

I'm not trying to be bitchy, I'm just getting the impression these surveyors have the boat buyers buy the
03-18-2013 11:43 AM
TheWollard
Re: How do I get insurance and how much does it cost?

That Marine Survey link is great. I've added it to my shortcut/favorites.

Thank you for sharing!
03-18-2013 11:17 AM
boatpoker
Re: How do I get insurance and how much does it cost?

Quote:
Originally Posted by northoceanbeach View Post
Whoa, I am NOT trying to insult anybody. That's not my intent. Although I disagree with a couple points made.

1. I don't think that in a big area like Seattle I am hiring a surveyor that lives an hour from the harbor. It's probably a guy that lives on a boat there or nearby I would think. So it's not 2 hours commute.

2. I am no expert, but I spent a year and a half as a bottom cleaner, so I can always put on a wetsuit and dive.

3. the boat I am likely to get had a survey done a year and a half ago when it was hauled and bottom painted, so one for insurance purposes alone seems like a waste to me.

4. I understand that in not getting a survey, I am taking more risk, but alot of sailing is taking risks, and budgeting. If I hauled and survey lets go with $550, I would rather risk it, and spend that $550 replacing halyards or some standing rigging, or getting a dingy. You have to pick and choose, and for me, I would choose something that for $550 I can have in my hand.

5. I am not intending to cross oceans, that must have been a previous post from when I was in Hawai'i with dreams bigger than my skills and I bought a Cascade 29.

I am not trying to piss anybody off, and if you choose or have chosen to have a survey done, I support your decision, because while I may feel it is overcosted, I still agree with your points that it is a good decision.

I'm also not sure that I WANT to know everything, maybe I'll get a good boat and sail the S out of it and love it, and just not worry about everything, I've seen some people on some rickety boats doing some really fun things, while I was in the harbour worrying about my standing rigging. I want to be safe, but I liked what I read the other day. It was an older guy in another boat saying he did alot of crazy S when he was young and he wouldn't do it now, but didn't regret it for a minute. Then he said, go while you are young, go small, but go now.

What if I get a survey and there are just too many little things that I shouldn't buy the boat, these are old boats...what if I don't buy it, and then I look at another boat and get a survey, and then there are too many little things to buy it, I could spend all my money on surveys!
Here .... this may help you perform a self-survey. Marine Survey 101
03-18-2013 11:10 AM
hellosailor
Re: How do I get insurance and how much does it cost?

Oh, a $550 survey just to satisfy the insurer. That changes everything.

As Emily used to say on SNL, "Nevermind".
03-18-2013 09:07 AM
TheWollard
Re: How do I get insurance and how much does it cost?

Quote:
Originally Posted by northoceanbeach View Post
I could spend all my money on surveys!
I feel your pain. I'm wrestling with the same issues. I purchased this month. I'm going to have it hauled, self survey, and self bottom paint before I move it to home waters. My Progressive agent didn't mention a survey. Boat US requires one.

I simply can't afford the slip fees, hauling, painting, AND survey right now. Hell, I can't really afford the insurance quotes I'm receiving either. Once my sailing dingy sells, I'll be better positioned. Until then, it's a shoestring budget.

Good luck. I've visited the San Juan Islands via ferry. I would love to sail those waters. Be safe and have fun.
03-18-2013 07:55 AM
Minnewaska
Re: How do I get insurance and how much does it cost?

Quote:
Originally Posted by northoceanbeach View Post
........I would rather risk it, and spend that $550 replacing halyards or some standing rigging, or getting a dingy. You have to pick and choose, and for me, I would choose something that for $550 I can have in my hand. .....
Perfectly okay choice to make with your eyes open. Many do on boat like this.

It would make me nervous, as there can be issues with boats of that value that can exceed the value of the boat. It's a big reason so many are abandon at marinas. You can pay much less than a survey to simply have a few deal breakers checked. You may get peace of mind, but no survey.

Have fun sailing the S out of her.
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