Types of Surveys SE Marine USA Does As A Marine Surveyor
The marine survey is beneficial for a boater, regardless if you are a new boat owner or a boat owner who has decided to upgrade to a larger boat. Consideration of a marine survey is recommended to help you with the financing of your vessel or insuring your vessel. Having a professional opinion for the purchasing your boat for the first time; for the seller, or for insurance underwriting purposes, is beneficial since most banks, financial institutions, and insurance company’s request a survey be performed by an “accredited” marine surveyor.
TYPES OF SURVEYS
There are several different reasons to have a marine survey performed. These typically are:
Pre-Purchase The owner hires a marine surveyor to advise you of the overall condition and value of the vessel you are seeking to purchase.
Pre-Insurance Survey Insurance company will want the survey to determine if the vessel is an acceptable insurance risk.
Damage Survey When damage or repairs are needed to a vessel, the insurance company or claimant will request an estimate of the costs and extent of damage. The survey can also determine the probable cause of damage.
Appraisal Survey A survey to determine the fair market value of a vessel for the bank, financial institution or legal entity seeking information and/or appraisal to determine the condition.
