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 Insurance/Finance Survey is a complete review of the vessel’s condition without the sea trial and other testing of a pre-purchase survey. In certain cases, vessels 10 years and older, and performance boats, the finance/insurance company will require that the vessel be surveyed while hauled-out.
The importance of a marine survey increases with the vessel’s size, number of engines, systems, construction complexity, and age.
ROLE OF THE MARINE SURVEYOR
The surveyor in a pre-purchase survey is retained by and represents the interest of the buyer. The surveyor provides a comprehensive written review and evaluation of the vessel’s current condition, a description of any deficiencies found and recommendations for correcting those deficiencies.
Simply put, a Marine Surveyor is a consultant with the experience and knowledge of the technical factors and standards inherent to the proper construction, installation and maintenance of boats and their engines and systems, as established by organizations such as; The American Boat and Yacht Council, Federal Requirements. These concepts apply to both power and sail boats.
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The surveyors use their eyes and instincts to carefully examine the boat and its systems. A review that will consume hours and cover the entire vessel in great detail. For example:
The hull and decks are inspected for signs of excessive stress, blisters, delamination or other structural defects.
Below water line attachments such as struts, propellers and shafts are checked for evidence of impact damage, corrosion or excessive wear.
Deck hardware, cleats, windlass, should be properly sized for the boat and well secured with stainless steel through bolts and sealed against water leaks. The deck area and cabin interior hardware should be free of cracks, compression and water leaks.
The fuel tanks should show no rust or corrosion. The fuel fill and feed hoses should be J1527 alcohol resistant type and not look “dry and cracked.”
Copyright 1997 Used Boats Magazine.
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