You will most likely have 'comprehensive insurance cover' on your boat, however when your boat reaches a certain age your insurance company will normally ask you for an 'Out of Water Insurance Survey', if you wish to continue with this level of insurance cover. Typically this will happen when your boat is approximately 20 years old and then approximately every 5 years thereafter.
An 'Out of Water Insurance Survey' will normally also be required if you wish to upgrade the level of cover on your boat to 'comprehensive insurance cover'.
Your insurers will will want to know about the physical condition of the vessel and whether it it remains an insurable risk. Areas of concern to the insurers are the hull, stern and steeering gear, skin fittings, weed hatch, fuel, gas, electrical systems and an indication that the vessel is being maintained to a reasonable standard.
For the 'insurance survey' to take place your boat will need to brought ashore into a dry dock, or on to a slip way for the inspection. To reduce docking, or haul out fees most boat owners arrange for a hull survey to coincide with a two-yearly scheduled hull blacking.
You may also be asked for a 'valuation' update as well as the 'insurance survey' both of these can be normally carried out on the day of the inspection.
Following the survey you will receive a detailed report on the condition of the boat. Dependant on the condition of the boat the report may contain 'recommendations' of any remedial work that is required and suggested time frames in which any remedial works should be addressed.
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