Stoned P. You are opening yourself one heck of a can of worms. Your boat is highly unlikely to "pass" for want of a better word an insurance survey. In simple terms these are the equivalent of a roadworthy check on a motor vehicle. Your standing rigging will not be insureable unless it is less than 10 years old.The inboard diesel being substituted by an outboard wont go either. Sorrry to be pessimistic but you will need a reality check.

Sorry if you think this unhelpfull. Purely by coincidence I have this morning organised to slip my boat for an insurance survey. I have a full survey report including X-ray rigging inspection just over 12 months old. Insurance company wont accept that report because it was done in Marblehead USA and I have since sailed the boat 15,000 miles so they need a new report for my now new Australian insurance cover. Just because you only want third party wont sway the surveyor. It is his reputation with the insurance company on the line. Trust me when I say that you have opened a can of worms.

My open ocean insurance policy is still current for a few weeks. Yes you will need $10,000,000 liability insurance to pull into any marina. The requirement for an insurance survey for vessels over 25 years old has been around for a few years now. The surveys are reasonably thorough. My boat is only 8 years old but needed survey to get ocean going insurance and then another survey because of ocean sailing. They will also base their decision on cover on you sailing and boating experience.

there are companies that do not need survey for third party

There is also a company in Spain that will give you the insurance you need with out survey.....you will pay the money but I doubt if something ever goes wrong they will help with insurance claims......but you will have the 3rd party cert to get into marinas and onto hard standing.

some of the guys in our club have 3rd party only from GIO, I'm sure it was around the $120 mark also, and without the need for survey since there's no coverage for your own boat.

it's worth clarifying what the 3rd party covers though. I have been told that for some it's just the minimum of public liability only.

Lets face it marine insurance is all about the underwriters or reinsurers. Probably in the end all goes through Lloyds. Then consider the hiding they have taken with cyclones and tropical storms worldwide in the last ten years and you can see why they are not willing to take on extra risk. I am all in favour of the insurance company weeding out poor risk as it has an effect on my premium in a global sense. Unfortunately the simple facts are it is expensive.

stonedpirate said..

Yeah, the rich own the handful of sheltered parts of the coast and everyone else can ride a ferry.

Screw it.

Welcome to the 21st century

Cool, I will probably have to do that myself.

Thanks for the heads up :)

Welcome to the 21st century

Nah, its always been that way :P

Not long ago, it was only european royals that could own a yacht, i better stop my whingeing and appreciate that i can sail in the 21st century :P

Awesome, that would be great Ben.

They seem to ask for out of water survey though and that seems to be the biggest hurdle. No marina will haul me out without insurance but cant get insurance without a haul out :P

Hopefully your contact survey will be enough for at least one insurer in this country.

Would appreciate his name.

It wouldnt be:
Brian McRae?
BUNBURY
6230
(08) 9721 7631/
0437 417 263

Would it? Got that contact from club marine.

Does he require the boat be taken out of the water?

Thanks again :)

Thanks again Ben. So helpful.

Was just parked down koombana bay watching the yachts get blown about in the storm imagining me anchored out there. lol

This wind is insane.

The good news is, only one yacht has broke mooring and is on the beach, hope its not yours :P

Happened last week though so probably isnt.

Good news, finally got insurance through QBE so all good. :)

So what were the conditions of gaining coverage (survey, rig, engine, etc), is it full insurance or third party property and what are the sum insured and premium if you don't mind telling us??

I had an unisured boat lifted at a marina for out of water survey + painting. The marina wanted a $2000 bond, refunded when i left the marina, so there are ways around it.