SAGA — Doing things properly

The value agreed should be the cost of replacing the vessel with one of a similar age and condition, and should be reviewed at each renewal to reflect depreciation.

Additional equipment
The sum insured should be increased to cover extra gear, but it is also wise to specify the values of individual items such as outboard motors, dinghies and trailers. If further equipment is bought afterwards, insurers must be advised to make certain that the insurance has been extended to cover them.

Valuations
If it is felt that the sum insured needs to be increased beyond the agreed level, insurers may ask for a valuation. This can be obtained as part of a survey or, if no survey is being done, from a Yacht Broker. This valuation will represent what the surveyor or broker feels is the current market value of the vessel.

The vessel should be insured for its current market value. However, if the vessel is put up for sale and the Broker’s suggested asking price differs from the sum insured under the policy, the sum insured should be amended to reflect the newly determined market value.

1. Find a surveyor who is knowledgeable in the type of vessel involved.
2. The surveyor must be independent of the buyer, seller and any intermediary involved in the sale.
3. Be sure that the surveyor carries professional indemnity insurance.
4. Many surveyors carry qualifications and/or are members of professional bodies, such as the Royal Institute of Naval Architects or the Yacht Brokers, Designers and Surveyors Association.
5. To find a surveyor, telephone either of these associations or ask your local marina or Yacht Broker for a recommended list.

What type of survey?

1. You should arrange a full survey, covering the whole vessel including engine(s), rig, hull, deck, fittings etc.
2. The survey should be done out of the water, i.e. ‘dry’.
3. To be acceptable to an insurer (bearing in mind that each insurer may have its own rules), any survey should be no more than two years old.
4. Don’t rely on a survey done for someone else, such as the previous owner or an earlier potential buyer. While it may be a useful guide, the surveyor involved only has the responsibility to the person who commissioned the survey and nobody else.
5. However, if there is a survey that has been done for someone else, it may be possible – and more economic – to ask the surveyor who conducted it to update it, rather than commissioning an entirely new survey.
6. Any survey will contain recommendations. These should be arranged in some order of priority, such as:
   1. Tasks that must be attended to before the vessel is put back in the water.
   2. Tasks that can be done after the vessel is afloat, but before it is put back into commission.
   3. Tasks that should be done soon, but can wait until the next lay up period.
   4. Tasks that need doing to ‘keep the vessel in good condition’.

Once the recommended tasks have been carried out, the surveyor should be called back to check them and confirm, in writing, that they have been completed satisfactorily.

Condition Report

On some vessels, usually smaller ones, an insurer may only ask for a condition report. The vessel should then be inspected by a knowledgeable boat builder who is able to give an independent opinion (i.e. has not carried out any work on the vessel themselves). They should be asked to confirm in writing that the vessel:

• Is in sound sea or river worthy condition.
• Is suitable for the use to which it will be put.
• Has been well maintained.
• Continues to be well maintained.

How often do you need a survey?

While it is wise to have any ‘older’ vessel checked over regularly, it is up to the owner as to how often a survey should be arranged. Although owners often feel they ‘know’ their own boat, it is essential that an independent, qualified and insured surveyor is called in when necessary.

Some insurers ask for surveys on a regular basis – perhaps every three or five years. If an insurer requests a survey, it is a good idea to ask how often they will require a new one.

With Saga Boat Insurance, you do not need another survey for the insured vessel as long as you continue to renew the policy.

Marina berth

This is the preferred mooring for most vessels. In order to promote freedom to use the vessel, it is advisable to have 12 months of ‘in commission’ cover if possible.

With Saga Boat Insurance, if loss or damage occurs while your vessel is ashore or afloat on a pontoon berth in your home marina, you will not have to pay an excess or lose any No Claim Discount.

Dry sailing

Usually, this is not a problem. However, with boats kept on dry land when not in use, certain restrictions may apply regarding the security of the vessel. These will be outlined in the policy wording and any endorsements applied to the policy.

Swinging moorings

The location of a swinging mooring will dictate whether your policy permits the vessel to be left on the mooring throughout the year, or whether it is restricted to certain months. Swinging moorings should be professionally laid, regularly checked and properly maintained. It is also wise to ensure that the person who laid the mooring carries adequate professional indemnity insurance to cover any liabilities. If the mooring area is at all exposed, it is best to attach the vessel using a chain rather than a rope strop. The vessel’s topsides can be protected by covering the chain with a plastic tube.

Laid up

If your policy stipulates a period during which the vessel must not be left on a mooring, this must be strictly adhered to. If you require the vessel to be left on the mooring after the specified lay up date (or it is to be put into the water before the end of the lay up period), the insurer must be advised and agreement obtained in advance. All boat owners must be aware of the implications of the terms and conditions relating to their policy. If you are in any doubt regarding where and how the vessel is to be moored or stored, you should contact the insurer immediately.

If you or your crew are injured it is even more important that you receive expert help. We will also pay your legal costs if you are prosecuted over the navigation of the vessel or become involved in a contractual dispute.

Saga Marine Legal Cover pays up to £100,000 towards professional fees for each claim to cover your own lawyer’s costs, and those of your opponent if the ruling goes against you. It also pays repatriation costs up to £300 following an accident abroad if the vessel is rendered unseaworthy.

Racing
Dinghies – Under Saga’s Dinghy Plan, all dinghies receive racing cover as standard.

All yachts – Protection may be provided at the underwriter’s discretion, and will generally cover local club level racing (although we may cover other racing, depending on the vessel).

Underwater machinery damage cover
Faster vessels can often damage their propellers, shafts and rudders by hitting underwater objects like sand bars or floating debris. Insurers cover collision damage to the hull as standard. However, it’s often things that sit under the hull, such as propellers, that need extra protection – especially as they can be expensive to replace.

Saga Boat Insurance automatically covers damage to underwater machinery on speedboats, sports cruisers, fast sports cruisers, fast motorboats, motorboats with a speed of 18-45 knots, and day fishers. This cover is shown by an endorsement on the policy and is subject to an increased excess.