At some point in time, as a boat owner you will need a boat inspection Palm Beach. The inspection may be because you plan on selling your boat, you are buying a new boat or need a survey report for the purposes of insurance or to present to financial companies. Whatever the case, it is always good to know what type of survey you need. To help with this, we have discussed the various types of surveys available.
Condition & value survey
The condition and value survey is the most comprehensive type of boat inspection Palm Beach. It provides the client with an informed, professional opinion of a boat’s condition as well as a fair market value. The survey includes in-depth visual inspection of the structural integrity, safety of equipment and all miscellaneous onboard systems. An out of water hull inspection and a sea trial will also be done. At the end of the inspection, the marine surveyor will send you a written report of the condition & value survey. This will give detailed information on the boat and includes a list of noted discrepancies or variations. The report also includes a recommendation section which lists maintenance, safety and repair items that ought to be addressed.
The purpose of an insurance survey is to help underwriters determine the condition and insurability of a vessel. The survey may be required either for an initial policy issuance or renewal. The focus of an insurance survey is the structural integrity, safety as well as an inspection of the systems installed on the vessel. The safety gear will also be inspected and noted to ensure compliance with the federal requirements and pertinent identification information will be recorded for future reference, valuation as well as claims adjustment. A survey report will also be given.
A boat inspection Palm Beach can be done to determine the fair market value of a boat. This inspection is known as an appraisal inspection. An inspection may be required during financing, donations, estate settlements, legal cases and so on. Focus here is to get an overall impression of the boat’s condition. The survey is less in-depth and the survey report only gives general comments on the condition of the boat and the estimated fair market value.
If your boat was involved in an accident or was caught up in a storm, a damage survey can be done to determine the extent of damage to the vessel. This survey can also be done on a used boat to help know the repairs that will be required and the estimated cost of the repairs. A damage survey can also be used to determine the probable cause of an accident. When filing a damage claim, the insurance company will send a surveyor who will represent the interests of the insurance company. You can hire your own surveyor to inspect the damages and make recommendations.