The Pre-Purchase Marine Survey is the most comprehensive and normally accomplished prior to the purchase of a new or used boat.  Although many brokers offer lists of recommended surveyors, the surveyor should always be engaged by the prospective buyer.  As it his interests that the surveyor will be working for. 

This survey should be an exhaustive inspection covering every detail affecting the boat’s condition and value.  It should include a thorough evaluation of all onboard systems, the vessel’s structural integrity, and the powerplant.   Discrepancies will be listed describing the extent of existing problems and their recommended resolution, suggestions for upgrades and needed repairs.  The vessel is best inspected both in and out of the water and underway for a trial run (‘Sea Trial’). 

The Pre-Purchase Survey also provides an estimate of the vessel’s Fair Market Value (FMV) to make sure you aren’t paying too much, along with an opinion of its condition and replacement cost. 

If you are purchasing a boat or yacht you should always ensure that the purchase agreement and price are contingent upon a satisfactory Marine Survey.

Sometimes called by the acronym C&V, this inspection may be required by insurance companies when a vessel is initially acquired.  It may also be requested at periodic intervals thereafter to ensure the vessel remains a safe risk for coverage. 

Financial institutions often request a C&V Survey to determine the value of a vessel for loan or estate valuation.  Many aspects of the Pre-Purchase inspection are covered, but with greater emphasis on potentially hazardous flaws and safety issues and less on cosmetic issues.  Precise identification of all valuable gear and an opinion of the vessel’s fair market value and insurability are always included. 

For older boats and new policies, insurance underwriters normally require a haul out inspection to inspect the hull’s wetted area and underwater machinery.

Stuff happens!  Whether it’s an accident or weather related at some time or another it’s likely that your boat or yacht may be damaged.

Following the submittal of a claim, the Insurance company will most likely retain a Marine Surveyor to determine the Nature, the Cause and the Extent of the damage.

This type of marine survey is called the Damage Survey and its purpose is to determine the extent of the damage sustained by the hull, rig, systems or elsewhere on the vessel.  The report presents information on the probable causes of the damage, includes recommendations on repairs, and following the preliminary report will often have the engaged surveyor validate repair estimates for such work. 

Marine Surveyors are typically hired by insurance companies.  Occasionally though, a surveyor is hired by the boat owner directly to independently document damage in the event the owner is disputing the insurance company’s determination of coverage.