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01-14-2022, 07:41 AM
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#1
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Veteran Member
City: Enfield, CT
Vessel Model: 1982 Albin 40 DC
Join Date: Nov 2021
Posts: 77
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Insurance for 1982 Albin 40 with no Survey
Hi guys. I'm buying a 1982 Albin 40 Double Cabin trawler and decided not to do a survey. Does anyone know of an insurance company that with cover a 1982 vessel, without a survey?
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01-14-2022, 08:35 AM
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#2
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Guru
City: Toms River
Vessel Name: V E N T U R E
Vessel Model: 1996 36' Island Gypsy Classic
Join Date: Dec 2009
Posts: 1,361
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Congrats on the new boat. Very interesting topic. I can't offer any advice but will be following this thread for sure. Welcome to the Forum.
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01-14-2022, 08:38 AM
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#3
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Guru
City: Vermont
Vessel Name: Luna C.
Vessel Model: 1977 Marine Trader 34DC
Join Date: Sep 2020
Posts: 1,514
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I recently went with progressive with an agreed value but I think they may stop at 35'.
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01-14-2022, 12:29 PM
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#4
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Guru
City: Olympia
Vessel Name: Rendezvous
Vessel Model: Blue water 40
Join Date: Aug 2021
Posts: 1,815
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Quote:
Originally Posted by SeaBoy
Hi guys. I'm buying a 1982 Albin 40 Double Cabin trawler and decided not to do a survey. Does anyone know of an insurance company that with cover a 1982 vessel, without a survey?
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bit of a leap of faith buying without a survey. have you seen it out of the water?
there can easily be issues under there like blisters or whatever else might be going on.
if you've got a good handle on it (lots of experience) i can see it, but it's doubtful you can get coverage without at least an in water survey.
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01-14-2022, 12:31 PM
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#5
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Moderator Emeritus
City: Au Gres, MI
Vessel Name: Black Dog
Vessel Model: Formula 41PC
Join Date: Jul 2015
Posts: 21,191
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It will be tough but maybe contact Pau Hana on this site. He is an insurance broker and may be able to help.
__________________
Boat Nut:
If you are one there is no explanation necessary.
If you aren’t one, there is no explanation possible.
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01-14-2022, 02:33 PM
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#6
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Guru
City: Seattle, WA
Vessel Name: Pau Hana
Vessel Model: 1989 PT52 Overseas Yachtfisher
Join Date: Aug 2012
Posts: 2,676
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Quote:
Originally Posted by SeaBoy
Hi guys. I'm buying a 1982 Albin 40 Double Cabin trawler and decided not to do a survey. Does anyone know of an insurance company that with cover a 1982 vessel, without a survey?
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Greetings!
With VERY few exceptions, there are no insuring companies offering good coverages that will offer coverage for that age and length of vessel without a hauled survey.
The ones that will offer coverages have a specific box of parameters that must be met-
- age of the vessel
- value of the vessel
- experience of the prospective owner
- location of the vessel's location relative to the owner's location
- vessel construction
- And more
Is there a reason you don't want to do a survey? In my opinion, a survey can yield tremendous benefits- including giving you cause to walk away from a vessel that is pretty on the outside but rotten to the core...
__________________
Peter- Marine Insurance Guru at Novamar Insurance Group (206-350-5051) & tuna fishing addict!
1989 52' PT Overseas yachtfisher
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01-14-2022, 03:01 PM
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#7
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Moderator Emeritus
City: Au Gres, MI
Vessel Name: Black Dog
Vessel Model: Formula 41PC
Join Date: Jul 2015
Posts: 21,191
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I agree with Peter, if you have not closed on the purchase I would get a survey. You might find that you don’t really want this particular boat.
__________________
Boat Nut:
If you are one there is no explanation necessary.
If you aren’t one, there is no explanation possible.
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01-14-2022, 03:21 PM
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#8
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Veteran Member
City: Enfield, CT
Vessel Model: 1982 Albin 40 DC
Join Date: Nov 2021
Posts: 77
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geico quoted me $2400 with out of water survey. Just bound insurance with progressive at $831!!! Thank you CharlieO!!!!!!
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01-14-2022, 03:23 PM
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#9
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Moderator Emeritus
City: Au Gres, MI
Vessel Name: Black Dog
Vessel Model: Formula 41PC
Join Date: Jul 2015
Posts: 21,191
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Quote:
Originally Posted by SeaBoy
geico quoted me $2400 with out of water survey. Just bound insurance with progressive at $831!!! Thank you CharlieO!!!!!!
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Remember that you get what you pay for. Compare the coverages closely.
__________________
Boat Nut:
If you are one there is no explanation necessary.
If you aren’t one, there is no explanation possible.
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01-14-2022, 03:53 PM
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#10
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Guru
City: Seattle, WA
Vessel Name: Pau Hana
Vessel Model: 1989 PT52 Overseas Yachtfisher
Join Date: Aug 2012
Posts: 2,676
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Quote:
Originally Posted by SeaBoy
geico quoted me $2400 with out of water survey. Just bound insurance with progressive at $831!!! Thank you CharlieO!!!!!!
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Caveat Emptor, my friend.
Progressive is a “C” player in a “A” game: coverages are restrictive, no stand alone pollution liability to meet Federal requirements, deductible factor in for both partial and total losses, and more.
As recommended, read the policy closely- and know what you’re covered for.
__________________
Peter- Marine Insurance Guru at Novamar Insurance Group (206-350-5051) & tuna fishing addict!
1989 52' PT Overseas yachtfisher
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01-14-2022, 07:02 PM
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#11
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Member
City: New Port Richey
Vessel Model: Prairie works 36
Join Date: Jan 2022
Posts: 6
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In Florida I was unable to find insurance for a vessel over 35 feet without a survey.
A year later I am still repairing things the surveyor wrote up as "bad"
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01-14-2022, 07:53 PM
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#12
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Guru
City: Ft Pierce
Vessel Name: Sold
Vessel Model: Was an Albin/PSN 40
Join Date: Oct 2011
Posts: 28,149
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Peter....
If you go liability, pollution and salvage... no hull coverage.....
Are there insurers at that point that might forgo a survey?
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01-15-2022, 10:15 AM
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#13
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Guru
City: Seattle, WA
Vessel Name: Pau Hana
Vessel Model: 1989 PT52 Overseas Yachtfisher
Join Date: Aug 2012
Posts: 2,676
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Quote:
Originally Posted by psneeld
Peter....
If you go liability, pollution and salvage... no hull coverage.....
Are there insurers at that point that might forgo a survey?
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Yessir, there are.
If the pollution might be limited if the vessel is extremely old, but generally speaking, pollution and liability are standard.
Salvage/wreck removal is usually limited to $25k.
__________________
Peter- Marine Insurance Guru at Novamar Insurance Group (206-350-5051) & tuna fishing addict!
1989 52' PT Overseas yachtfisher
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01-15-2022, 10:19 AM
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#14
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Guru
City: Ft Pierce
Vessel Name: Sold
Vessel Model: Was an Albin/PSN 40
Join Date: Oct 2011
Posts: 28,149
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Thank you Peter....almost had to go this way and it might be for others buying much older trawlers that have little hull value left.
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01-15-2022, 11:21 AM
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#15
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Newbie
City: Fairfield
Join Date: Jan 2022
Posts: 3
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Quote:
Originally Posted by Anclote cowboy
In Florida I was unable to find insurance for a vessel over 35 feet without a survey.
A year later I am still repairing things the surveyor wrote up as "bad"
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Are you repairing survey found items as required by insurance or is it because you want to or for resale value or other?
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01-17-2022, 12:04 PM
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#16
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Member
City: New Port Richey
Vessel Model: Prairie works 36
Join Date: Jan 2022
Posts: 6
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Mainly so I can insure the boat. Most of the items they "wrote up" were things I planned on getting to. Just at a later time.
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01-17-2022, 12:12 PM
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#17
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Guru
City: Ft Pierce
Vessel Name: Sold
Vessel Model: Was an Albin/PSN 40
Join Date: Oct 2011
Posts: 28,149
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I was able to argue my way out of a dozen unreasonable insurance demands and just ignored the dozen dumb ones on the last 4 surveys.
It wasn't even a back and forth...I gave reasonable reasons not to do them and it was OKed.
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01-17-2022, 04:51 PM
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#18
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Member
City: New Port Richey
Vessel Model: Prairie works 36
Join Date: Jan 2022
Posts: 6
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Quote:
Originally Posted by psneeld
I was able to argue my way out of a dozen unreasonable insurance demands and just ignored the dozen dumb ones on the last 4 surveys.
It wasn't even a back and forth...I gave reasonable reasons not to do them and it was OKed.
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I will also give this a shot. My problem is you are supposed to get a re-survey after your repairs... Photographic evidence should suffice.
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01-17-2022, 04:57 PM
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#19
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Guru
City: Seattle, WA
Vessel Name: Pau Hana
Vessel Model: 1989 PT52 Overseas Yachtfisher
Join Date: Aug 2012
Posts: 2,676
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Quote:
Originally Posted by Anclote cowboy
I will also give this a shot. My problem is you are supposed to get a re-survey after your repairs... Photographic evidence should suffice.
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A survey reattend is required in very, very few cases- usually a statement attesting that all the survey critical recommendations have been corrected is proof enough for underwriting.
I would require a survey reattend only if the vessel was truly horrid- the approval of coverage would be combined with 2 requirements-
- the vessel be hauled at closing to repair the deficiencies
- a reattend would be required prior to relaunch.
__________________
Peter- Marine Insurance Guru at Novamar Insurance Group (206-350-5051) & tuna fishing addict!
1989 52' PT Overseas yachtfisher
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01-17-2022, 05:44 PM
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#20
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Moderator Emeritus
City: Au Gres, MI
Vessel Name: Black Dog
Vessel Model: Formula 41PC
Join Date: Jul 2015
Posts: 21,191
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When we bought our last boat Boat/US required us to fix the defects on the survey. All they wanted was a statement from me that I had them fixed. When we bought our current boat they didn’t even want a survey.
__________________
Boat Nut:
If you are one there is no explanation necessary.
If you aren’t one, there is no explanation possible.
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