General Underwriting: Age and Surveys

Watercraft Age

• The age is determined by subtracting the model year from the current calendar year, with no consideration for the month the watercraft was manufactured.

• There is no watercraft age restriction.

Survey Requirements

First Choice Only

• An acceptable out-of-water Condition and Valuation Marine Survey is required for:

• • Any watercraft moored in salt or brackish water that is over 10 years old and 27’ or greater.

  • Any watercraft moored in freshwater that is over 15 years old and 27’ or greater.

  • Any watercraft with a top speed over 60 MPH that is over 10 years old and 27’ or greater.

• The survey can be no older than one year.

• An in-the-water Marine survey is acceptable if the watercraft has had bottom maintenance within the past 24 months. This requires some form of documentation such as a work order or diver's report, etc. This requirement also applies to Liability-only policies.

• Pontoon boats stored in freshwater are exempt from the survey requirement.

• The above survey age requirements can be waived to 24 months if the unit:

• • Is currently insured by your agency.

  • Has been claim free since the date of the last survey.

  • Has had routine bottom maintenance.

A Compliance Letter may be required.

• Any Mid or High Performance boat 71 MPH or greater with a lapse in coverage may require a survey. A survey can be requested by the company for any boat with a lapse in coverage.

• Airboats more than two years old at the time of purchase may require a marine survey.

• NAMS (National Association of Marine Surveyors) or SAMS (Society of Accredited Marine Surveyors) are preferred.

There is flexibility of the rules depending upon the unit type, claims history, transferring of business, ownership history, location of the unit, etc. Submit to the American Modern Service Center for consideration.

While the above rules will typically be the only reason for a survey, the company may request a survey on any risk prior to binding.