Insurance Surveys

Insurance companies wish to assess risk when taking on new clients for yacht or small craft insurance, and to this end an insurance survey will frequently be required.

This type of marine survey is not as comprehensive as a full pre-purchase survey. It is termed a “Structural survey” and will concentrate on the major parts of the craft. It covers the integrity of the hull, the condition of the keel, deck and supports and the lower parts of the standing rigging.

A valuation of the vessel is given as part of the Insurance survey. This valuation will reflect the overall condition of the craft and also consider the type, construction and it’s popularity.

Some boats, for example production boats, have a generally recognised value on the market, within the constrains of condition, age and inventory, whereas others may have a particular following and the value may well be higher than other boats of similar size, age and construction.

There are also boats for sale whose origins are more obscure and will take some research and the skill of the surveyor to produce an accurate valuation.

Most insurers will require a survey report prior to issuing a new policy on any used boat over a certain age and value. These criteria vary between insurers. Insurers usually also require periodic surveys on boats they are insuring as these boats age.


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