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CONDITION SURVEY & VALUATION FOR INSURANCE

CONDITION SURVEY & VALUATION FOR INSURANCE

 

Your insurance company may ask you for an appraisal of your boat and a valuation…

 

An insurance marine survey is performed to assist the insurance company in determining whether or not the ship is an acceptable risk and under which conditions. The insurance underwriter will also want to obtain a fair market value of the boat.

 

 

This kind of survey consists in a general assessment, mainly focused on the vessel’s structural integrity and safety, the level of equipment and the compliance with technical and administrative requirements. This survey provides also an accurate view of the boat’s value.