Liability Insurance + Survey?
Contacted Geico for a quote. The $300K liability quote was $70. Great figure, but then he said a survey was required. So the boat is a "71 28" cabin cruiser (Cargile Cutter). I purchased it as a project a couple of years ago. Restoration is coming to an end hence the request for a quote. I was somewhat surprised about the survey requirement. I don't want to insure the boat (I don't think it is worth the expense), just liability. Is a survey normal for just liability insurance?
Also is there a difference in surveys for insurance and purchasing i.e. price? Obviously I am new at this. Any help greatly appreciated.
Almost forgot. Agent insists on calling it a houseboat because of "the hull shape". Actually he is referring to the freeboard forward. It is a modified cupped chine V hull, WOT around 25 mph.