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Boat Insurance Survey Schedules

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  • 01-01-1970
Boat Insurance Survey Schedules

The insurance survey is often referred to as a Condition and Value Survey. It is a survey used by the insurer for evaluating whether or not they wish to guarantee a certain vessel.

An insurance survey is a minimal type of survey that is carried out to aid insurance coverage experts in making underwriting choices. The survey has two primary purposes: 

  • To determine the vessel, its condition and basic value

    To identify problems, harmful conditions that poses as a possible risk to the security of the vessel and also its passengers. 

It searches for any other problems that are likely to lead to loss or damages. 

An insurance survey is not simply a cheaper pre-purchase survey. It is a comprehensive evaluation of the vessel. This relates to its seaworthiness, structural condition, safety and security. It does not cover things such as electronics, domestic pipes, furnishings or sails.  However, these things will be shown in the final valuation.

An insurance survey is particularly formatted for underwriters. It is accurate and to the point. It indicates that an extensive examination of the vessel has been undertaken. The Insurance Survey Record is rather less expensive to the customer. The extent is restricted and makes no notes about cosmetic matters. It ignores construction quality or fitness unless this signifies to insurability. On top of that, the report does not supply guidance which might be trusted when making a decision whether to buy the boat.

How often do you need a survey?

It is a good idea to have any kind of 'older' vessel checked over on a regular basis. It depends on the owner regarding just how frequently a survey should be arranged. Owners often feel they understand their own vessel, but it is vital that an independent, professional and insured surveyor is contacted when needed. 

It is normally agreed that you shouldn't purchase a pre-owned boat without first having it surveyed. An insurance provider will often want to see a recent survey report before consenting to supply cover on some vessels. This generally applies to those over a certain age, home-built or reconditioned.

The survey report is assembled under the adhering to headings, though not all areas are appropriate for every craft:

  • Hull external
    Hull fittings & valves
    Radio equipment
    Mast rigging & sails
    Navigation equipment
    Safety equipment & firefighting
    Deck & superstructure
    Stern gear
    Gas system
  • Keel & skeg 
    Deck gear
    Hull internal
    Electrical installation
    Cockpit & other drains
    Fuel system
    Bilge pumps

The survey likewise includes a Summary of Referrals and Moisture Meter readings. These become part of the survey for GRP and wooden vessels.

Are you looking for a boat surveyor near you. Follow the links below to contact our marine surveyor for Surrey and South England.