| The marine insurance survey is the most common | | | | specific type of vessel. A surveyor for a Yacht or |
| and most complete inspection conducted by a | | | | any small craft for instance, specializes in surveying |
| surveyor. Designed specifically to meet the demands | | | | small vessels with a length of up to 300 feet. Once |
| of the insurance companies and lending institutions, it | | | | your surveyor met this standard, the next step is to |
| needs to evaluate and assess the financial risk | | | | ask if he/she can provide validation of expertise, |
| implicated in insuring or financing the boat. The | | | | work experience and qualifications. You can review |
| objective of this inspection is to give details on the | | | | and verify the resume with the references from |
| boat's condition and value when the survey was | | | | previous clients readily available upon request. A |
| conducted. Basically, the marine insurance survey will | | | | marine survey business may have existing employees |
| only involve detailed visual assessment of the boat, | | | | or many associates so be sure to choose the |
| except when the insurer or lien-holder necessitates | | | | surveyor, not the company only. Choose someone |
| an operational testing or sea trial. It shall examine the | | | | whose credentials are on the letterhead or |
| safety and se-worthiness of your vessel, on the | | | | advertisement. You should also evaluate a sample of |
| basis of the present condition of its systems, | | | | report from a survey conducted on a similar boat |
| equipment and structure alongside the assessment of | | | | and see to it that it is professionally done. |
| the boat's fair market value. A marine insurance | | | | It is crucial to request this as it is indeed significant to |
| survey will usually be a pre-requisite prior to provision | | | | know if your surveyor provides you with a report on |
| of coverage. A survey similar to that will also be | | | | your boat without lacking detail and clarity. Be |
| required every five years as a must for renewal of | | | | cautious that the marine insurance surveyor can |
| coverage. When it comes to the point that an | | | | black-out any personal information of the client or |
| accident, vandalism or theft occurs, a damage survey | | | | specific details of the boat. Also, try to find out if |
| shall be conducted to evaluate the extent and cost | | | | your surveyor has any existing professional liability |
| of damage to the vessel. | | | | insurance like the one called Errors and Omissions |
| One factor to consider in choosing a good surveyor | | | | insurance. It may be limited though, to seek remedy |
| to obtain a good marine insurance survey is the | | | | beyond the marine survey company's assets once |
| background like for instance the membership of an | | | | negligence should come up. Also take note that if |
| accrediting organization offering designations signifying | | | | your marine survey is for insurance purposes, bear in |
| that a member has met strict technical, professional | | | | mind that the insurer will typically reject if once the |
| and ethical standards. With these at hand, you will | | | | survey is conducted by a surveyor who is directly |
| have knowledge that the person you are considering | | | | associated with a marine or boatyard due to the |
| is a credible professional. Select a marine insurance | | | | possibility of conflict of interest. |
| surveyor specializing in offering surveys for your | | | | |