About Marine Surveys
A simplified description of a marine survey is a detailed inspection of the current condition of a vessel. Marine surveys are requested for a number of reasons:
Pre-Purchase
Buying a new or used boat? This type of detailed marine survey is strongly recommended for determining the condition and overall operation of the vessel. It will include an evaluation of electrical, propulsion, fuel, and miscellaneous on-board systems, structural integrity, navigation equipment, electronics, cosmetic appearance, overall maintenance and, as well, an out-of-water inspection and sea trial.
Insurance
Insurance companies and banks may request marine surveys in order to properly underwrite the risk or finance the vessel. They require information on the condition and safety of the boat for its intended use, as well as fair market value. Insurance surveys are often required on older boats.
Appraisal Inspection
This type of inspection is conducted to determine or justify the fair market value of the vessel and is usually required for the purposes of financing, estate settlements, donations, and legal cases.
Damage Inspection
This inspection provides a damage assessment and recommends required repairs, as well as estimated repair costs.
How to Prepare for a Survey
A bit of time and effort in preparing your vessel for a survey will avoid delays and additional expenses. Please ensure your vessel is in an uncluttered and shipshape condition, with appropriate papers and gear available. All hatches and lockers should be open and accessible for inspection.
