Captain Julie Femino
Marine Surveyor & Consultant
There are many reasons to have a vessels surveyed. It is a good idea to have a vessel surveyed before purchasing. Many insurance companies require a survey of a newly purchased vessel. And, insurance companies have an interest in the safety and value of an insured vessel and may require a survey every 5-10 years. Others will have a boat surveyed to uncover any safety concerns and to keep the boat up to current standards.
Whatever the reason, a survey is a great opportunity to evaluate your vessel for safety, value and piece of mind.
TYPES OF SURVEYS:
Pre-Purchase Condition and Value Survey: This is the most comprehensive type of inspection, and is strongly advised when purchasing a new or used vessel. Condition and overall operation of the vessel should be examined. This covers structural integrity, electrical systems, the propulsion system, the fuel system, other machinery, navigation equipment, miscellaneous on-board systems, cosmetic appearance, electronics, and overall maintenance as well as an out-of-water inspection and a sea trial. Insurance Condition and Value Survey: This inspection is performed so that the insurance company can determine whether or not the vessel is an acceptable risk. They are interested in structural integrity and safety for its intended use. Most insurance companies require a survey on older boats. They will also want to know the vessel's fair market value. Appraisal Survey: This inspection is performed to gather enough information to justify or determine the fair market value of the vessel. This is normally needed for financing, estate settlements, donations and legal cases. Damage Survey: This is survey is performed to assess the extent of damage, recommend repairs, estimate repair cost, and if requested, possible cause.
