Whether you bought a bought for recreational purposes or use it for business, it is always important to get marine insurance. This will not only give you peace of mind as you sail and store your boat but also help avoid expensive costs if something goes wrong. The question, however, that almost every new boat owner asks is this: how long does a boat survey last for insurance? If this is the question on your mind, we will tackle it from two angles. The first is how long the survey is valid.
Validity
There is no simple answer to the question of how long does a boat survey last for insurance in terms of validity. This is because insurance companies have different rules. Some will accept a boat survey report that is as old as 5 years while others will only accept a report that is less than 2 years old.
In addition to the insurance company you are using, there are several other factors that will impact the validity of an insurance boat survey. The main ones are:
- Age of the boat. Older boats are high risk and insurers will require a fresh survey before providing a policy
- Type of boat. Wooden vessels need to be surveyed every 2 to 3 years.
- Changes made to a boat. If you have made major upgrades to the boat since the last survey, you will need a fresh survey to be done to reflect the changes.
- Use of the boat. Commercial vessels are exposed to harsh conditions frequently and thus require frequent surveys.
Duration of the Survey
As for how long does the survey last, the answer depends. The duration of a boat survey for insurance can vary depending on various factors such as:
- The size and type of the boat,
- The complexity of the inspection,
- The qualifications and availability of the surveyor.
Generally, a boat survey for insurance can take anywhere from a few hours to a full day or more. In many cases, the insurer will provide a list of items that have to be inspected. The longer the list is, the more time it will take to complete the survey.
For smaller boats, a survey may take only a few hours, while larger vessels or those with more complicated systems and structures may require a more extensive inspection that can take a full day or longer. For thorough inspections, the surveyor may need to access various parts of the boat, such as the hull, deck, machinery, and electrical systems, and may also need to conduct sea trials to evaluate the boat’s performance and handling.
All things considered, it is always best to consult with your insurance company or the marine surveyor to get an estimate of how long the boat survey will take for insurance purposes.