Insurance Marine Survey
Insurance surveys are usually requested by an insurer to determine the “condition and value” of a vessel up for renewal or a new policy on an older vessel. There is no known formula why, when, and where an insurance survey will be requested. Every insurance company has their own survey policy. An Insurance Survey consists of What? Are we surveying, Name, Make, Model, Model Year built, HIN, length, beam, displacement, builder, photo of the vessel. And Where? Did we survey the vessel, in the water, out of the water, boat yard location, time of survey, who inspected the vessel.
It also includes inspection of safety equipment, expiration dates of equipment, compliance with USCG regulations, compliance with state and local laws, compliance with fire regulations and industry standards. Inventory and serial numbers of equipment with descriptions where relevant, valuations and vessel ratings. The final report will include a certification statement and be signed by the attending surveyor.
What We Can Do For You
This is the most comprehensive type of inspection, and is strongly advised when purchasing a new or used vessel.
This inspection is performed to gather enough information to justify or determine the fair market value of the vessel.
We can determine the cause, extend and loss related damage and can recommend repairs and review estimates.
This inspection is performed so that the insurance company can determine whether or not the vessel is an acceptable risk.