Types of Surveys
Pre-Purchase/Valuation Survey
This is the most comprehensive type of inspection, and is strongly advised when purchasing a new or used vessel. Condition and the overall operation of the vessel should be examined. This would include such items as structural integrity, out of water inspection, sea trials, electrical systems, propulsion system, fuel system, machinery, navigation, misc. on board systems, cosmetic appearance, electronics, and overall maintenance. The Valuation part is based on BUC and NADA values, as well as a search of the Web for similar vessels, combined with my opinion of the condition of your vessel. In other words, if there is paint peeling off the sides, and mold growing on the interior cushions, do not be surprised to see a low value. If the vessel is in good condition with lots of extra goodies installed, then the value will be higher.
Insurance Survey
This inspection is performed so that the insurance company can determine whether or not the vessel is an acceptable risk. They are interested in structural integrity and safety for its intended use. Most insurance companies require a survey on older boats. They will also want to know the vessel's fair market value. Not all insurance companies will except this type of abbreviated survey so check with your underwriter before requesting this. The main difference in an insurance and pre-purchase survey is that I will not attempt to operate every little gadget and toy onboard, including electronics. I'm looking more for safety and structural issues. As for the value of the vessel once again this will be from compaired sources.
Damage Survey
This is performed to assess the extent of damage, recommend repairs, estimated repair cost, and if requested, the probable cause. This type of survey requires a lot of careful attention to detail. Damage in one area can effect many unseen parts of the vessel. If there is damage to your vessel do not rely on the judgment of an insurance adjuster or yard personel alone, all parts of the repair must be carefully considered, or you could find yourself in a position of cost overruns that the insurance company will not cover. Most insurance compainies will reimburse you a set amount based on yard estimates. If the yard estimated wrong, then the additional costs are out of pocket.
Galvanic Corrosion Survey
Wires in bilge water, changes in your dock's wiring, additions over the years to your boats electrical system, even problems from other vessels near your boat, can cause excessive zinc use, and/or possible damage to metal components underwater. A thorough galvanic and stray current corrosion inspection can resolve any concerns and save costly repairs in the future.
ONCE YOU RETAIN THE SURVEYOR, HE OR SHE WORKS ONLY FOR YOU AND REPORTS TO NO ONE ELSE. THE SURVEYOR IS THERE TO PROTECT YOUR INTEREST!
