Ok now you have bought the boat and need insurance or your insurance is due for renewal and the insurance company has requested a survey report. Luckily, Caribbean Marine Surveyors is there for all your surveying needs.
We occasionally get asked – We do not need a full survey, just for insurance renewal – We only do a full survey, we do not cut corners. Your safety is important to us, we will try to protect you from personal injury, loss of use of your boat or the cost of paying the insurance deductible should you have a claim.
Condition and evaluation surveys for Marine Insurance will provide insurance companies and their underwriters with all the information they require in order to evaluate their risk and provide a fair market value. This survey is carried out in the same thorough detail as the “Purchase Survey”.
Caribbean Marine Surveyors Ltd.
Condition and Evaluation for Marine Insurance Surveys will:
Identify the vessel and major items of equipment using serial numbers wherever possible.
Identify defects and other conditions, which may lead to insurance claims, for example; sinking, fire, dismasting, etc. Where possible, we give the owner the benefit of a compliance survey so that the final report does not contain a list of defects requiring repair. This means that the insurance company can issue a policy free of warranty issues.
We inspect and report, bulkheads, through hull fittings, mechanical installations, steering, tankage, electrical installations, safety equipment, firefighting equipment, navigation equipment, rigging and mast aloft, etc.
Will be carried out using ABYC, NFPA, USCG guidelines or MCA as appropriate.
Will be written using normal language, marine terminology only where necessary.
Will be completed in a timely manner.
Will contain digital photographs.
The valuation will be based on NADA and BUC book values, internet research of sites such as www.soldboats.com, and adapted to the local market.
Before you arrange the survey, please find out from your insurers whether you need an ‘in-water’ or ‘out of water’ survey. We advise owners to check the vessel themselves prior to the survey. Check all through hull fittings, hoses, hose clamps, expiry dates, fire extinguishers, flares, etc. If an out of water survey is required, you will need to arrange a haul at a boat yard. This “survey haul’ is normally carried out over lunch time, the vessel is left in the slings, and re-launched after the bottom survey. The surveyor will ask you to empty lockers to gain access to bulkheads etc. The surveyor may ask you to provide minor dismantling of some areas, for example: chain plates and mast step.
Our fees are based on normally equipped fiberglass boats to 50 feet. We will check monohulls for US$36.00 per foot and catamaran for US$40.00 per foot for a full in and out of water inspection and valuation. We accept payment by a cheque drawn on a US Bank, Travellers cheques, Cash, Credit and Debit cards, Wire transfer, or you can pay on our “Payments” page of the website. This will take you to a secure page operated by 2Checkout.com.
Over the years, the insurance market for used vessels has changed, but we’ve been around long enough to know how to inspect any used vessel. This history has kept customers coming back to us since 1995. We are a trusted by insurers worldwide. Do not hesitate to reach out to our trained staff with any questions or comments you have.
Please review our survey contract. Print it and either fax it to us or scan it and email it to us when we have agreed terms etc.
For more information on our marine inspection surveys and boat inspection, contact Caribbean Marine Surveyors today.