Insurance on a 1985 boat — everyone wants a survey before they'll even quote?

Question

Trying to insure a very clean 1985 Carver I'm buying owner-direct. Three companies in a row: 'we need a recent out-of-water survey'. The survey is $25/ft, the boat is 32 feet, and I haven't even closed yet. Is this normal? Any insurers friendlier to older boats?

saltydog_frank · Answer

Normal past ~25 years old. Reframe: the $800 survey is also your negotiation weapon and your buying inspection. It paid for itself twice on my last deal — knocked $3k off for items the seller didn't know about.

perkins4108 · Answer

Insurers also accept the survey AFTER purchase within 30 days with some carriers — ask. And get the surveyor to note 'no active moisture' explicitly, that's the line underwriters scan for.

hatterashank · Answer

Agreed-value policy or walk. Actual-cash-value on a 40-year-old boat means they'll total it over a bent prop shaft.

Insurance on a 1985 boat — everyone wants a survey before they'll even quote?

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