Surveying Services
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Condition & Value Survey (Pre-Purchase Survey)
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Marine Insurance Survey
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Marine Appraisal Anspection
No matter your experience, it is a mistake for a potential buyer to purchase a boat without a marine survey. Many lenders won’t even consider financing a used boat unless a survey is commissioned. Insurance companies are often hesitant to provide coverage for the same reason. A survey aims to identify potential issues with the craft before you spend your hard-earned money on the purchase.
With decades of experience in the marine industry, Yachting With Confidence brings a wealth of knowledge and expertise to every yacht survey. We strive for excellence in everything we do and are committed to serving you with great customer satisfaction and industry-leading expertise.
Marine Condition and Value Survey
The most comprehensive assessment a vessel will likely receive is a marine condition and value survey. It provides clients with an informed, professional opinion of a boat's condition and fair market value. Sometimes known as a Pre-purchase survey, it includes an in-depth visual inspection of structural integrity, safety equipment, and all other miscellaneous onboard systems (electrical, propulsion, sanitation, potable water, navigation, etc.), as well as an out-of-water hull inspection and limited sea trial.
The written report of a condition and valuation survey provides detailed information on the vessel and contains a list of noted discrepancies or variations from the American Boat and Yacht Council (ABYC) and National Fire Prevention Association (NFPA) standards, as well as deviations from the United States Coast Guard requirements and prudent seamanship. The report will also contain a "Recommendations" section listing safety, maintenance, and repair items that need to be addressed.
A Marine Condition and Value survey should always include a haul-out of the boat and external inspection of the hull, running gear, and external hardware.
Marine Insurance Survey
A marine insurance survey is conducted to assist underwriters in determining a vessel's condition and insurability for initial policy issuance or renewal. The primary focus of a marine insurance survey is structural integrity, safety, and inspection of system installations per NFPA and ABYC guidelines. Safety gear is inspected and noted for compliance with federal requirements, while pertinent identification information is recorded for future reference, valuation, and claims adjustment.
The content of a typical marine insurance survey's written report is similar to that of a Condition and Value Survey, providing detailed vessel information, discrepancies, and recommendations. In many cases, a marine insurance survey is similar in scope to a condition and value survey. The biggest difference is that in some cases (typically policy renewal for an established client), underwriters will accept an "in-water" survey without a limited sea trial.
Marine Appraisal Inspection
The marine appraisal inspection is conducted to determine the fair market value of a vessel for financing, estate settlements, donations, and legal cases (such as divorce). As the focus is simply to provide the surveyor's overall impression of the vessel's condition, a marine appraisal inspection is a less in-depth inspection as compared to a condition and valuation survey. This can be conducted in or out of the water. The written report will contain basic vessel information, general comments on the overall condition, and an estimated fair market value.
