Getting A Useful Survey

Here are a few ways get the most useful survey for your money:

  • Be sure to let the surveyor know the purpose for which you are requesting the survey. If the reason is for the purchase of a boat, or to fulfill an insurance requirement, ask for a full condition and value (C&V) survey. This type of report will typically estimate the current market value for the boat today, the value to rebuild the boat in today dollars in addition to a detailed description of the construction and condition of the hull and major systems (i.e. electrical, fuel, machinery, rigging, etc.).
  • Make certain it is clear from the report that the surveyor has inspected the boat for compliance with the current boating safety standards set by the National Fire Protection Association (N.F.P.A.) or the American Boat and Yacht Council (A.B.Y.C.), or the British Merchant Shipping Regulations.
  • Some surveyors offer abbreviated one or two page opinions, which they’ll often refer to as an insurance inspection. This type of brief format will usually be rejected for insurance underwriting purposes since it omits details on the condition of the boat and its systems that are necessary for risk analysis.
  • It is always appropriate to ask the surveyor for a copy of a sample survey of the type that you are requesting.

If you are selecting a surveyor in order to obtain insurance through KIA, please note the following:

  • Generally surveys completed by persons directly associated with boat yards, marinas or brokers will not be accepted for insurance due to the potential for a conflict of interest.
  • In most cases surveys done by insurance company personnel will not be accepted due to their brevity and lack of detail.
  • Hauling is generally required on wooden, steel, or aluminum boats; boats which have sustained damage; and older hulls (request a quotation for details on your particular situation).

Questions regarding the scope of a surveyor’s inspection, their cost or the content of the reports should be discussed with the surveyor.

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