Insurance Surveys

Insurance Surveys

Professional marine surveys for insurance coverage and compliance

What is an Insurance Survey?

Most insurance companies require a professional marine survey before they will insure your vessel. An Insurance Survey focuses on safety, structural integrity, and compliance with marine standards to help you secure coverage and protect your investment.

Our certified marine surveyors conduct thorough inspections that meet insurance industry requirements, evaluating critical systems and components that affect insurability and risk assessment.

We work with all major insurance companies and provide detailed reports that meet their specific requirements, helping you navigate the insurance process smoothly.

Insurance Survey

Insurance Survey Focus Areas

Our insurance surveys prioritize safety, structural integrity, and risk assessment

Structural Integrity

Comprehensive evaluation of hull condition, deck integrity, and overall vessel soundness. We identify any structural issues that could pose safety risks or lead to costly claims.

Safety Compliance

Verification of required safety equipment including life jackets, fire extinguishers, flares, emergency signaling devices, and compliance with Coast Guard regulations.

Risk Assessment

Identification of potential hazards, liabilities, and risk factors that could affect insurability or lead to future claims. We assess fire risks, electrical hazards, and structural weaknesses.

Valuation

Current market value assessment for coverage determination. Insurance companies need accurate valuations to set appropriate coverage limits and premiums.

Why Insurance Companies Require Surveys

Risk Management

Insurance companies need to assess the risk level of insuring your vessel. A professional survey identifies potential hazards and structural issues.

Accurate Valuation

To set appropriate coverage limits and premiums, insurers need an accurate assessment of your vessel's current market value.

Documentation

Professional surveys provide documented evidence of vessel condition, which is essential for underwriting and claims processing.

What's Included in Your Insurance Survey

  • Comprehensive System Inspection: Detailed examination of hull, deck, electrical, propulsion, fuel, and safety systems
  • Safety Equipment Verification: Complete check of all required safety equipment and compliance with regulations
  • Risk Assessment: Identification of potential hazards and liabilities that could affect insurability
  • Market Value Assessment: Professional valuation for coverage determination
  • Detailed Report: Comprehensive written report with photographs, findings, and recommendations
  • Insurance Company Acceptance: Reports formatted to meet insurance industry standards and requirements

When Do You Need an Insurance Survey?

New Insurance Policy

Most insurance companies require a survey before issuing a new policy, especially for older vessels or boats over a certain value threshold.

Policy Renewal

Many insurers require periodic surveys (typically every 3-5 years) to maintain coverage and ensure the vessel's condition hasn't deteriorated.

After Significant Damage

Following an accident, storm damage, or major incident, insurance companies often require a survey to assess repairs and determine continued insurability.

Change of Ownership

When transferring ownership or adding a vessel to an existing policy, insurers typically require a current survey to assess the new risk.

Compass

Ready for Your Insurance Survey?

Contact us today to schedule your insurance survey. We work with all major insurance companies and provide reports that meet their requirements.

TAP TO CALL (609) 276-0707