Importance of a Marine Survey

You have found your perfect vessel…and it looks amazing. Your marine surveyor will dig deeper than the surface and provide thorough checks and inspections. Examinations and inspections of the hull, propulsion systems, engine operations, electrical, plumbing, safety equipment and navigation essentials are just a few of the focus areas during your survey. 

While onboard, your family and friends safety should be number one. A pre-purchase survey includes an inspection of critical safety equipment, such as life jackets, fire safety equipment, navigation lights, and emergency signaling devices to name a few key points. All of these areas must meet regulatory standards, which your surveyor will help you understand. 

Fair market value and valuations based on the overall condition of the vessel will be vital in your purchase. This can be used to negotiate with the seller, highlight necessary repairs or uncover concerns a seller shall address and correct prior to completing a purchase. 

In today’s market, most lenders and insurance companies will require a marine survey to provide funding or issue, and renew, a policy.  Lenders and Underwriters need assurance of the vessels overall condition to minimize the likelihood of accidents or major repairs which could result in costly claims.

A knowledgeable surveyor will check compliance of equipment and systems onboard with standards from American Boat and Yacht Council (ABYC), National Fire Protection Association (NFPA),  U.S. Coast Guard (USCG) and Code of Federal Regulations (CFR)

Marine Surveys conducted on vessels for a variety of reasons, and for various entities or people. Marine Surveyors are, by nature of their industry standards,  impartial and unbiased.  Their job is to tell the truth about the vessel, as pleasing or painful as that may be.