Category: Marine Surveys

Why do I need a marine survey?

As you might well assume a marine survey is a detailed report which is compiled by a marine surveyor once they have carried out an onsite inspection of a vessel. So why do I need a marine survey?

Most typically, marine surveyors are called to assess damage to pleasure craft such as yachts but it can be in connection with any type of vessel from tugs and cargo ships, assessing how they are loaded and the cargo carried.
For the most part the purpose of the report or marine survey is to ascertain what condition of the vessel and it’s history for the purposes of financial, insurance or purchasing information to ensure that it meets all regulatory requirements.
If you are purchasing a pleasure craft with your hard earned savings then surveys are highly recommended as they can identify many things that may well be overlooked with simpler valuations.
Surveys refer to many things from the condition of the craft, detailed information on its history or lack of it and potentially if it has been previously damaged. In some cases insurers will insist on a report before underwriting a vessel. It is likely that they will be appointed by the insurer but this does not mean that they will favour the insurance company as they must remain unbiased in any assessment and not influence the actual purchase decision.
Whatever the reason for the survey, it is important to remember that it will stand you in good stead if you intend to sell the vessel on at a future date. It will also streamline any claims process should you have the need to make an insurance claim at any time. Whilst your insurer or finance company will recommend a marine surveyor to you, we have some other useful information in Choosing a Marine Surveyor here. Alternatively you can seek advice from the IIMS website.

Photo by James Connolly

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