Insurance and Valuation Surveys
The objective of a Boat Insurance Suvey is to reassure underwriters that a yacht/boat is in a condition that warrants the vessel being considered for insurance. The older the vessel the more a survey is required and on vessels in excess of twenty years old insurers require regular surveys, although it is subject to the vagaries of the individual insurers. Insurance companies often refers to this as an out of water hull survey.
To qualify for insurance an Insurance company marine survey will require:
- A survey of the hull condition
- A review of the general safety of the vessels systems paying particular attention to seacocks
- Often an open market valuation
The vessels will almost always be required to be lifted and the visible and accessible areas of the hull will be examined both by tap testing and moisture readings.
Should the hull be dirty or if it still has substantial layers of paint etc then the surveyor will be required to scrape clean sample areas and assess their condition.
Generally an insurance survey is not concerned with cosmetic matters unless this is of significance to insurability. Please note that Insurance Survey reports do not generally offer advice which is suitable for any boat purchase decision, and it is unwise to rely on such a survey for purchasing a yacht.
Boat Insurance Surveys for Production FRP/GRP Yachts
Marine Surveys UK have developed a special report format for Production FRP/GRP Yachts that is concise and deliberately focused ONLY on the information of interest to insurers. Feedback suggests that this is appreciated by insurers dealing with a large volume of craft. The survey cost reflects the reduced report time.
Of note is the fact that if you have commissioned a Pre-Purchase Survey then you do not need an additional insurance survey as the Pre-Purchase survey is also suitable for obtaining insurance and/or financing.
Note – This service is not offered for custom yachts, steel yachts, aluminium yachts, wood yachts, superyachts or any elderly craft. These require a full Condition Survey for Insurance.
Boat Valuations for Matrimonial matters, divorce proceedings, bankruptcy and insolvency
Marine Surveys UK carry out valuations for Solicitors and Law courts on vessels around the world using a net work of contacts to visit the boat and photograph it and evaluate its condition and then carry out desk research on past and present prices and give a realistic value of what the boat would be expected to make at sale. Acting as a Single Joint Expert Witness producing the recognized document as specified in Civil Procedure Rules 1998 with reference to part 35.
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Here are some snippets of recent reviews. they can be seen in full on our testimonials page, or on the facebook and google+ links above
“Matt provided an excellent survey service when I was buying my first boat – always a nerve-wracking experience! He was very flexible with timings, arrived promptly and conducted a very thorough inspection, taking time to explain key points to me and offer general boating advice. The report came through very quickly and was comprehensive, clear and made sensible recommendations. I would fully recommend Matt. ” Nick Bournemouth, Review Jan 2016
We purchased our Dufour 36 from ‘Ancasta’ Chichester last April, and they recommended using Matt for our survey. We were travelling from Cardiff , and Matt was extremely helpful and easy to deal with. I attended for part of the survey, and he took time to talk me over the yacht andgave me a very detailed verbal description on the day. This was followed up naturally by a more detailed written report . Everything was dealt with very promptly , Matt was easy to contact throughout the process , and I would highly recommend his services .
“I was very pleased with the survey that you carried out for me,It was comprehensive and at a fair price ,done when I wanted and it was very useful to be able to discuss you findings with you” Chris Forsyth. Olympic 500C. December 2014
I had Matt survey my Rinker 232 in September 2014, he was very thorough and answered any questions I had. Overall an excellent service without fault or delay so if you are looking for a marine survey I would highly recommend Matt. Terry Goulty. Rinker 232 December 2014
“Living in Sweden I found an interesting Beneteau First 305 in the Southampton area. Searching for a surveyor I found Matt West. He made a pre-purchase condition survey to great value for me. He also taught me a lot about this boat model. Knowing the status of the boat we had a nice sailing trip home to Sweden.” Jörgen Haslum December 2014
… A really nice guy, very knowledgeable and helpful. The report was clear and easily understood and all findings were clearly put into perspective for me. Thoroughly recommended! Peter Bristow, Haywards Heath May 2014
Excellent survey at a very reasonable price and the report was received the following morning … Matt was also happy to offer further free advice on the phone several weeks later and I’m sure even years later he’d continue to do so. …. Gary from Fleet. April 2014
…Matt did a great job, supporting me from start to finish and coming up with common sense solutions to potentially tricky problems. I will certainly be instructing Matt for my future surveying needs.Paul Lovejoy, Emsworth Feb 2104
…His inch by inch and nut and bolt complete survey was broken down into easy to understand sections that graded the work to be done using a simple star grading system. ….. He gave me the confidence to make my purchase, undertake the repairs and to have a boat now which has given me many happy hours of sailing. Mark Wood Portsmouth
Our 1984 Sunseeker 25 XPS Portofino required a safety / condition report for insurance purposes. This was carried out very efficiently and without fuss. P. Crowther-Wilton, Banbury 1st January 2014
Matt West was recommended to me …. the service he provides is prompt, reliable helpful and efficient. From initial call to receiving my survey took just a week. I would have no hesitation in recommending Matt” Andrew Campbell
Sent from my iPad December 2013
The previous owner, ….. was very impressed with your level of detail and testing and has kept your details to use your services when he buys his next boat. ….. we are very happy with her and in the knowledge that she has had a very thorough and detailed survey performed on her by a very knowledgeable and professional company. Dave D. December 2013
As a foreigner, having someone local you can trust, acting as your eyes and your ears and helping you to keep you with both feet on the ground, is an investment that’s worth every penny. Joris Van Roy, Belgium December 2013
He went out of his way to be helpful and even accompanied us on the sea trial. He produced an extremely comprehensive survey report and so far 3 months on I have not found a single thing he has missed. He is an accomplished professional with an in depth knowledge of boats and has been an invaluable source of advice. I would have no hesitation in recommending him to you, you would have to go a long way to find anyone better.” Mike S. December 2013
I have used surveyors when buying boats previously and none came up to the standard of service provided by Matt. Peter V. Sea Ray 240 July 2013
A very friendly and exceptionally helpful service, I would definitely recommend them. Rosie T. 43′ Narrow boat June 2013