Condition and Valuation Surveys (Insurance Survey)

Before an insurer will cover your vessel, they need an independent assessment of what they’re actually insuring. A condition and valuation survey — commonly called an insurance survey — is that assessment: a thorough inspection of the vessel’s condition, seaworthiness, and current market value conducted by a qualified marine surveyor. Insurers use the findings to determine coverage eligibility, set premiums, and establish policy terms. As the owner, you get an honest picture of where your vessel stands and any risks that need addressing.

What the survey covers:

Visual Inspection — We conduct a thorough inspection of the vessel above and below the waterline, examining the hull, superstructure, decks, and all structural components for damage, deterioration, corrosion, or signs of wear.

Safety Equipment — All lifesaving and safety appliances are checked against current regulations: life jackets, life rafts, fire extinguishers, flares, and distress signals. Everything is verified for condition, serviceability, and compliance.

Mechanical and Electrical Systems — Engines, propulsion systems, electrical panels and wiring, bilge pumps, and navigation equipment are assessed for condition, functionality, and whether they meet applicable safety standards.

Hull and Bottom Inspection — The underwater sections of the hull are inspected for blistering, osmosis, corrosion, impact damage, and fouling. The condition of the anti-fouling paint and any sacrificial anodes are also assessed.

Documentation Review — We review the vessel’s registration, certificates, maintenance records, and any other documentation relevant to compliance and ownership history.

Valuation — We provide an independent appraisal of the vessel’s current market value, giving your insurer a sound and defensible basis for determining the insured amount.

Recommendations — Where deficiencies are found, we provide clear recommendations for repairs, maintenance, or upgrades to bring the vessel up to standard and reduce risk exposure.

Report — You receive a detailed written report covering all observations, findings, and recommendations. The same report is submitted to your insurer to support underwriting decisions.

An insurance survey is how both you and your insurer know exactly what’s being covered — and at what risk. We bring the same technical depth to every insurance survey that we apply to all our work: a thorough, honest assessment you can rely on.