insurance question

[rbrtcrowther]

Hello.. One of the boats on our maybe list is known to have some hull issues. However we won't know to what extent the thickness has reduced to untill we have a survey done ( if we decide its the one for us ) Now here's the question. If said hull survey shows the hull to be reduced or pitted to say 3mm or a tad less would we be able to insure It third party with a view to using it for a few months while we organise the overplate work ect? Cheers everyone.

[David Mack]

Yes, as long as you can reasonably say it is in seaworthy  (or canalworthy)   condition. If the thickness at the bottom of the pits is 3mm or more, then the boat isn't going to sink in a few months.

[Momac]

19 hours ago, rbrtcrowther said:

Hello.. One of the boats on our maybe list is known to have some hull issues. However we won't know to what extent the thickness has reduced to untill we have a survey done ( if we decide its the one for us ) Now here's the question. If said hull survey shows the hull to be reduced or pitted to say 3mm or a tad less would we be able to insure It third party with a view to using it for a few months while we organise the overplate work ect? Cheers everyone.

The surveyor should, in his report,  distinguish between repairs that are essential and those which may be delayed .

 

[Neil Smith]

You can insure it third party as they don't ask for a survey as they are not actually going to pay out on it.

Neil

[Richard T]

Remember that you really do need insurance to cover salvage costs if it does sink!!It also ought to cover repairs following sinking.

[ditchcrawler]

3 minutes ago, Richard T said:

Remember that you really do need insurance to cover salvage costs if it does sink!!It also ought to cover repairs following sinking.

Which most third party ones wont, but if you need insurance Monday morning before the survey to move the boat its one way out and then upgrade as soon as the survey is done

[David Mack]

On 29/10/2017 at 17:16, ditchcrawler said:

Which most third party ones wont, but if you need insurance Monday morning before the survey to move the boat its one way out and then upgrade as soon as the survey is done

Basic Boat's third party insurance includes £50k wreck removal cover.

[Giant]

On 29/10/2017 at 17:16, ditchcrawler said:

Which most third party ones wont

This is a common misconception. I recently had to survey marine insurers on this issue and found that almost all include wreck removal cover as standard on their basic third party policies. That included at least: Towergate, Euromarine, Basic Boat, Navigators & General, and GJW. Haven Knox-Johnston had it as an option.

 

[Bee]

Theres an awful lot of very expensive steel cruisers and blue water sailing boats going around that were plated in 4mm steel, I'd be happy with well painted 4mm steel but worried with pitted 6mm. What happens to all the cruisers and sailing boats? can't be uninsurable from day 1 surely?