No survey needed?.... buy "as is where is"?

[newhaul]

Originally Posted by Terra Nova

If you can afford to lose the amount of the selling price, sure, survey it yourself. But, as has been said about those who choose to defend themselves in court, rather than pay an attorney: "They have a fool for a client."

that entirely depends on your tool kit and mindset. But yes for anything I would spend over 15k I would do a pro survey and I would at a minimum do oil analysis on the engine/ engines. But even if you don't do a pro survey do the oil analysis. It will tell you a lot about the single most expensive part to replace on the boat. ( will also tell you something about the overall maintenance of the vessel)

[mvmojo]

You can generally purchase liability only insurance without a survey. The company may want a picture of the boat just to make sure it isn't a derelict, but I've known many people who have obtained a liability policy w/out a survey.

[old frog]

Originally Posted by Terra Nova

If you can afford to lose the amount of the selling price, sure, survey it yourself. But, as has been said about those who choose to defend themselves in court, rather than pay an attorney: "They have a fool for a client."

Boat ownership potentially places more at risk than the value of the boat (limitation of liability might not be possible). Wreck removal can easily exceed the value of a low 5 figure boat. Consider oil/fuel spill clean up costs. Owning the origin boat in a marina fire is not a pleasant situation. On edit: Forgot to include the personal injury liability if an injury occurs from an accident. All the above are make worse by claims of owner negligence of failing to maintain or discover...

While some might consider it wasted money, others consider money prudently spent.

[Boatyarddog]

Originally Posted by ferrailleur

Thanks.... Would Boat US need a surveyor report for a $15,000 1985 boat with only a $300,000 liability to satisfy the marina requirements??

I insured only my slip, a 300,000/1000 medical on the marina slip only, satisfys the dnr requirements for the marina, in WA. State.
No insurance on the boat.
State Farm, $50 annually.
Cheers,
SV Cloud Duster

[jb2c]

Do you have a friend that is particularly knowledgeable of boats? That's what I did when I purchased my first saltwater boat. Buy him a steak dinner to look it over well. But of course, it all depends on the knowledge level of the friend vs the surveyor. And what the surveyor is charging.

[newhaul]

Originally Posted by Boatyarddog

I insured only my slip, a 300,000/1000 medical on the marina slip only, satisfys the dnr requirements for the marina, in WA. State.
No insurance on the boat.
State Farm, $50 annually.
Cheers,
SV Cloud Duster

What marina accepted that?

[fatherchronica]

On another note, if you come across a multistate surveyor with a big mustache who goes in and out of channeling Scarlette Ohara you could save some money and time by getting exceptionally drunk and putting on a blindfold and mittens and surveying the wrong boat yourself. Just a warning.

[Dooglas]

Originally Posted by ferrailleur

even for liability only?

BoatUS required the results of the survey done at purchase of my boat before binding insurance, and required a current survey several years later when the boat turned 30 years old. The most likely liability concerning a boat (especially an older one) is usually not hitting another boat, but sinking. The subsequent oil spill cleanup, recovery of other debris, and refloating the boat (even for disposal) is a substantial expense. Injuries to passengers could be even more costly. And, of course, it is liability insurance that concerns a marina. They don't care about your loss .

If you don't know what your insurer will require - you definitely need to ask before purchase.

[Boatyarddog]

Fiddlehead Marina, Budd inlet.
DNR requirement covered.
You don't have to insure your boat, just the water it sits in.
You'd pay for the salvage, removal costs.
I checked with the underwriters, it's legal.
Cheers,
SV Cloud Duster

[newhaul]

Originally Posted by Boatyarddog

Fiddlehead Marina, Budd inlet.
DNR requirement covered.
You don't have to insure your boat, just the water it sits in.
You'd pay for the salvage, removal costs.
I checked with the underwriters, it's legal.
Cheers,
SV Cloud Duster

ok isn't doubt the legality but at under200 a year to have full coverage to 500k and a mil to cover EPA cleanup in the event of a spill its worth it to me . Many of the boats in my Marina are worth quite a bit. I can't afford to fix them.

[Scout 30]

Boat US insurance is now Geico. When they took over my policy went up about 20%. I'd give Progressive a call. I insured my lobster skiff with them last year. No survey & very reasonable rates.

[Sand crab]

Boat US accepted an agreed upon amount of $25K on my 20 year old tri with no survey. They automatically know what the minimum liability requirement is for each state btw.
We had this crazy 60 mph windstorm that damaged the boat at the slip a week later and they covered it. I highly recommend BoatUS

[newhaul]

Originally Posted by Sand crab

Boat US accepted an agreed upon amount of $25K on my 20 year old tri with no survey. They automatically know what the minimum liability requirement is for each state btw.
We had this crazy 60 mph windstorm that damaged the boat at the slip a week later and they covered it. I highly recommend BoatUS

I heard that the tri got damaged again in port Townsend .
That boat loves docks and high winds.

[mvmojo]

There seems to be some confusion between liability insurance and hull and machinery (boat) insurance. Liability insurance protects you from claims made by others that a court would hold you legally liable for. Many marinas require you to have some minimum level of liability coverage in the event you damage their marina (run in to the dock, break a piling, removal costs if your boat sinks in the slip, fuel spills, etc.). They don't care if your boat is insured or not, only that you have coverage for damage you might do to their property. Liability coverage doesn't pay for any damage or loss to your boat, only for damage to the property of others that you caused, AND that you are legally held liable for.

Hull and machinery coverage ("hull" insurance), pays for damages sustained to your boat, less your deductible. Even though hull and machinery coverage and liability coverage are often contained in one policy, they're effectively two separate policies with two different sets of rules. You can have one without having the other. Lot's of people choose to self insure their own boat in terms of hull and machinery if they own the boat outright (no loan) and can afford to repair/replace the boat if it's damaged or lost. But if you're got two nickels to rub together, it's generally considered wise to have liability coverage to protect your assets in the event someone gets hurt on your boat, you run into another boat (or dock), your boat sinks and there's a fuel spill, etc.

Interestingly, although liability claims can be for significantly more money than hull insurance claims (think fuel spills or accidental death), the premiums for liability insurance are generally quite reasonable because these sorts of claims don't happen that often. And, since the insurance company isn't insuring the boat itself, only the consequences of the acts of the owner, a survey often isn't required.

[Sand crab]

Originally Posted by newhaul

I heard that the tri got damaged again in port Townsend .
That boat loves docks and high winds.

I hadn't heard that. I'll check. I went yakkin through Railway Marina Thursday and said hi to Meerschaum. I've been sailing a MacG 26m lately out of Gig Harbor.



Sorry about the thread drift