Reasons to get a Boat Survey

Buying a vessel is a huge financial commitment for many, and it is therefore important that all the necessary checks are made before a sale of contract is signed between the prospective yacht buyer and the vessel seller. A boat survey will identify any existing or potential problems with the vessel and can provide peace of mind to yacht buyers. A professional consultancy firm can guide you in locating the most reputable marine surveyors to perform the boat survey.

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The importance of a boat survey explained

A boat survey is essentially an evaluation of a particular vessel’s condition. An accredited marine surveyor should perform the survey prior to the yacht buyer signing a sale of contract. Boat surveys are commonly performed while the boat is in and out of the water in order to get a comprehensive review of the vessels structure.

Although a boat survey can be expensive, it is highly advisable to enlist a marine surveyor’s services following reasons:

  • Most marine insurance companies will require a boat survey is conducted on a vessel before it can be insured
  • A professional survey will provide the buyer with a detailed overview of any existing or potential problems the vessel may have and the amount it would cost to repair any damage
  • Many marine finance companies will request the report from a boat survey before agreeing to any form of finance with a yacht buyer
  • Even if you are aware that there is damage on the vessel, it is important to gain the professional opinion of  a marine surveyor to establish the extent of the damage
  • A boat survey will help yacht buyers to ascertain the true value of the vessel
  • Vessels must meet strict marine standards and criteria in order to be registered and insured – a boat survey will assess if the vessel meets such standards
  • A marine surveyor is usually required in the event that an yacht insurance claim is made
  • Boat surveyors can also provide certification and licenses where the vessel passes all necessary checks and standards

Locating a reputable marine surveyor to perform the boat survey is vital to the overall credibility of the survey results. It is therefore prudent to acquire the services of a professional consultancy firm to act as an introducer between yourself and a credible marine surveyor.