When is a Marine Insurance Survey required?
Marine insurance underwriters require a Condition & Valuation (C&V) survey report every 3 to 5 years. Or when there
- is a change of ownership
- is significant repair or modification
- is a change of use or area of operation
Marine Insurance Survey Scope
We carry out an out of water survey. This enables us to accurately identify the vessel, its design and construction. Therefore our survey provides the underwriters with enough information on
- the structural and cosmetic condition,
- machinery and systems,
- safety and compliance, and
- a current market valuation for insurance appraisal.
An in-water survey is not sufficient for a C & V report. You need to get an out of water survey done for all C & V insurance survey reports.
If you are not the vessels owner, please refer to the scope of a pre-purchase condition survey.