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Do You Need a Boat Survey for Yacht Insurance Cape Coral?

When you need yacht insurance Cape Coral, one of the most important things you should do is get a boat survey. While every insurance company will have unique guidelines on how a survey needs to be done, it is always good to ask them directly. It is a common practice that an insurance company will require an out-of-water survey to be done if your vessel is more than 10 years old or has been moored permanently. The out of water survey is considered to be the most comprehensive survey.

Another reason why you may be required to get a boat survey when applying for yacht insurance Cape Coral is if your boat is either old or of an unknown make or model. The insurer will require a survey to confirm that the boat has been constructed properly and that it was constructed by a well-known or reputable builder.

Will you need a survey if using the same insurance company used by the seller of the boat?

It will depend. Some insurers will be comfortable with using an existing report if the survey was done by the current owner. However, in most cases, you will be required to get a new survey. This is because a boat survey is a snapshot of the boat’s condition at the time the survey was done. A lot can change within the course of a few months.

Can you get an in-water survey alone?

The short answer is no. There are, however, some insurance companies that will accept an in-water survey only. The reason out-of-water surveys are recommended is that they are thorough. They help the surveyor access all the areas of a yacht. As a result, insurers are able to get a more comprehensive report about a boat with out-of-water surveys. If a survey was just an in-water survey, the insurance company will not be able to know if a problem was caused by existing damage or not.

What is the difference between pre-purchase survey and an insurance survey?

There are boat sellers who show insurance surveys and try to pass them off as pre-purchase surveys. What you need to understand is that a pre-purchase survey is a more thorough evaluation of a vessel. It involves a comprehensive inspection of the boat including out-of-water inspections and sea trials. The surveyor will also look at the condition of the engine, operation of electronics, navigation gear and lighting.  An insurance survey, on the other hand, only considers if a boat is an acceptable risk to insure. With that in mind, never accept an insurance survey as a pre-purchase survey.

Last but not least, you have to understand the difference between agreed value versus market value. An agreed value does not fluctuate. Talk to your insurer about this when applying for yacht insurance Cape Coral.

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What is the Cost of Hiring a Boat Surveyor Cape Coral?

There are many reasons why you may want to hire a boat surveyor Cape Coral. The most common reason is to get a comprehensive evaluation of the boat you plan on buying. Surveyors perform a thorough inspection of a boat and provide a report that includes major and minor issues on a vessel as well as the cost of getting them repaired. Another reason you may need to work with a surveyor is when you want to know the actual value of your boat. In this case, you will need an appraiser. An appraisal is also needed when you want to use the boat as collateral for a loan and when you need insurance cover.

Whatever the reason is for wanting to hire a boat surveyor Cape Coral, the first question people ask is how much it will cost to hire a surveyor. There is no simple answer to this. So many things influence the cost. Let’s take a look at the main factors that affect the cost of getting a boat survey.

Rate charged by the surveyor

When hiring a marine surveyor, you should be ready to pay either a flat rate or a per-foot rate. With the flat rate, the surveyor charges a single fee for the survey. This rate is offered mostly when you are buying a smaller or simpler boat. The per-foot rate is charged depending on the length of the boat. The average rate ranges from $18 to $25 per foot. Some surveyors will also charge part of the per-foot to cover the time of travel to and from your boat’s location.

Location of the boat

The location of your boat will have an impact on the overall cost of working with a marine surveyor. This is for the simple fact that the surveyor will charge you for the time and money spent getting to and from the location of your boat. If the location is too remote, you can expect to pay more. Remote locations are not only harder to get to but also lack the equipment a surveyor needs to do their job.

Age of the boat

It goes without saying that older boats take more time to survey than newer models. At times the surveyor has to improvise in order to access systems on an older boat. In addition to charging more for older boats, some surveyors will refuse to survey really old boats.

Services required

A surveyor only observes and listens to determine the condition of a boat. However, if you need additional services such as a haul at a boatyard, you can expect to pay more.

You should be prepared to pay for all the services offered on the day of the survey. This includes the cost of a short-haul and the fee of the boat surveyor Cape Coral. Understand how the surveyor wants to be paid before the big day. Some boatyards and surveyors prefer to be paid using a check rather than a credit card.

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Marine Surveyor Cape Coral – What is a Boat Survey and What Does It Cover?

When buying a boat, the debate most aspiring boat owners find themselves having is on whether to hire a marine surveyor Cape Coralor not. This is common especially when the boat they are buying seems to be in perfect condition. The truth is most issues are hidden from the untrained eye. That is why to avoid surprises after buying a boat, you need to get help from a boat surveyor. But what is a boat survey and what does it cover? This post is here to answer this.

When do you hire a surveyor?

If you want a boat survey done, it is important to note that you will hire a marine surveyor Cape Coral only after you have made an offer on a boat and your offer has been accepted. There are several surveys that can be scheduled. They include the in-water survey, bottom/haul survey, sea trial, and engine survey. Whatever you need, you must make sure that the surveyor you are hiring is able to offer that service.

The most common type of boat survey is the condition and value survey. This is mostly requested when you are considering the purchase of a used boat. The survey is done for the buyer to determine the fair market value of a boat and determine if it is in good condition. The survey includes the evaluation of the deck, hull, structure, and systems on the boat. This survey has to be done by an accredited surveyor.

A pre-purchase survey is a basic and limited inspection of the overall condition and operation of a boat’s systems and equipment. It is more of a snapshot of the condition of a boat. If you are buying a used boat and a condition survey was done a few months back, you should note that the report will not be a reflection of the current condition of the boat. You should order a new survey before purchasing the boat.

The most important point to remember before hiring a marine surveyor Cape Coral is that the surveyor will only observe and listen. Surveyors never take components apart to have a look inside. They simply observe and give a description of their findings. You will get a survey report within 24 to 48 hours. The report will include the fair market and replacement value of the boat based on comparable sales as well as industry data.

If a surveyor suspects there are serious problems with certain components, he will mostly suggest getting additional inspections by a specialist.

The other types of boat surveys include appraisal surveys and damage surveys. The most important point is to make sure you hire a surveyor who is great at what he does. A good surveyor must have a good track record.

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Boat Surveyor Cape Coral – Frequently Asked Questions on Boat Surveys

If you are planning on buying a used boat, the first professionals you should reach out to is a boat surveyor Cape Coral. The role of the surveyors is to inspect every inch of the boat you are considering and make recommendations on how much you should pay for it and how much you should expect to spend on repairs. In this post, our focus will be on the most frequently asked questions.

Why do you need a boat survey?

The first point you should note is that a marine survey is not mandatory. This is unless it has been requested by a lender or insurance company. When buying a boat, you can complete the purchase without getting a marine survey performed. This is, however, a terrible idea. The whole idea of working with a boat surveyors Cape Coral is so that you can get a comprehensive and objective review of the boat you are buying.

You should get a boat survey for the following reasons:

  • A survey gives you an assurance of the boat’s true condition and not just what the seller told you.
  • It is easy to miss significant issues if you don’t know what to look for. A marine surveyor has experience and training needed to spot issues easily and make recommendations.
  • The survey report you get after a survey has been done contains carefully researched information on the market value as well as the replacement value of the boat. This is information not available to the general public.
  • A survey is required by insurance companies and lenders.

Who pays for the boat survey?

The person who requests a marine survey is the one that pays for it. If you are a boat owner and want to know how much your boat is worth, you will pay the surveyor. However, in most cases, buyers are the ones who request a boat survey. While there are some variations on payments, in most instances the surveyor is paid by the person who hires a surveyor.

The case is the same when it comes to the haul out. The person who requests for a haul out pays for the service. 

How much does a boat survey cost?

The amount you pay will depend mostly on the boat surveyor Cape Coral you hire. The cost is also influenced by the following:

  • Size of the vessel
  • Hull construction; is it cored or solid fiberglass
  • Hull material; steel, fiberglass, wood, aluminum or ferrocement
  • Age of the vessel. Boats constructed pre 1970s tend to cost more to survey

Working with an experienced marine surveyor is the best way to ensure you are investing in the right vessel. You must, however, not that the surveyor will not disassemble components. If there is an issue that requires a component to be dismantled to look inside, the surveyor will recommend you to another professional, probably a mechanic.

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Marine Surveyor Cape Coral – Why Do You Want a Boat?

The duty of a marine surveyor Cape Coralis to help you understand a boat inside out. The surveyor will inspect every aspect of the boat, make repair recommendations and also give a fair market value of the boat. What a surveyor will not do is show you which boat you should buy. That is the work of a broker. Even before you hire a surveyor, the first thing you must do is settle on a boat. One of the most important things you have to do is answer the question of why you want a boat. Answering this question will help you narrow down your options. This post will be focusing on that one question.

Know what you love

To better answer the question of why you want a boat, you have to focus on what you want to do with the boat. Do you dream of sailing to exotic islands or do you want a simple fishing boat? Do you enjoy spending your vacation camping on a boat? How you love spending your time will help you know the type of boat that will be ideal for you.

Talk to boat owners

The next step is to talk to other boat owners. Lack of experience can cause you to make a terrible mistake when buying a boat. For example, there are certain types of boats that will do well based on the water and weather conditions of where you live. That is why talking to boat owners makes a lot of sense. Boat owners will help you know what to expect as a boat owner, maintenance expenses and also give you recommendations to the best marine surveyor Cape Coral.

Involve your friends

Shopping for a boat is time-consuming. Due to fatigue, you may end up taking shortcuts and end up choosing the first boat that impresses you. This is the worst strategy when buying a boat. Involving your friends will help you remain objective. An extra pair of eyes will help you better evaluate a vessel and determine if it is ideal for your needs without focusing only on the aesthetics and selling price.

Surf the internet

The internet is a great source of information when searching for a boat to buy. Jump on bulletin boards and forums. Don’t hesitate to ask questions on online platforms. The last thing you want is to buy a boat only to realize there have been negative reviews about the boat all along.

When buying a boat, the best thing you can do is identify what you want to do with it then take time to review it. Involving a marine surveyor Cape Coral will help you take the guesswork out of the way and ensure that you buy a boat that is worth every penny.

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Boat Surveyor Cape Coral – Methods Used in a Yacht Survey

When hiring a boat surveyor Cape Coralfor a yacht survey, you have to keep in mind that not every surveyor will be able to give you the thorough inspection you need. This is for the simple fact that surveyors have different specialties. You also have to keep in mind that the methods used in a yacht survey will depend on the materials the vessel has been built from.

Steel or aluminum yacht

If you are targeting an aluminum or steel yacht, the boat surveyor Cape Coral will need to pay more attention to the actual plate thickness. This is often done using a hammer and ultrasound. The boat surveyor will also look for pitting to the plaiting along with an inspection of the welding. This means the surveyor will go through the internal framework and check the internal plate condition as well as welding.

Laminates

Another popular material used to build yachts is laminates like fiberglass. If your target boat is built using fiberglass, you will need a surveyor with a different discipline. The surveyor should inspect the high load areas, the physical structure as well as pay attention to the moisture levels. The surveyor will also need to check for indications of groundings or damage.

Timber

If you want to go old-school and get a wooden yacht, you will be spoilt for choice. However, when it comes to the surveys, you will need a surveyor that is experienced and understands how wooden crafts are built and where problems start. It is imperative that the surveyor you choose have an understanding of the correct timber selection as well as the types and materials that are used for fastenings.

Bearing in mind how important the building materials are, you need to select a surveyor who has worked on boats built using the same materials as your boat. The last thing you want is to bring in a boat surveyor who specializes in the inspection of aluminum boats to inspect your wooden yacht. While he may be thorough, he will miss significant issues related to the materials your boat is built of.

You also need to make sure that the boat surveyor Cape Coral does not just focus on the external hull. A yacht has so many components. In addition to inspecting the structure, a good surveyor will go through all the components on your boat. Make sure the surveyor will perform both in and out of water inspections.

The type of marine survey report you get will depend on the method used by a boat surveyor. Making sure you understand all the services that will be offered and how the surveyor will get everything done will help you know if you are dealing with someone that understands your needs or not.

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Working with a Boat Surveyor Cape Coral

The biggest piece of advice when buying a boat is to work with a boat surveyor Cape Coral. The surveyor will look into every nook, sniff every corner, turn every knob, feel every thru hull and turn everything inside out. It is the job of a marine surveyor to give you a detailed review of the boat you are thinking about buying. In the end you will get a survey report that lets you know the exact condition of the boat and recommendations on repairs. Even so, there are a couple of things you have to do before hiring a surveyor.

Hire someone with experience

The mistake most people make is that of hiring the first surveyor that is recommended to them. What you have to understand is that experience plays a very big part in the competence of a boat surveyor Cape Coral. This is more so when you consider the fact that boat surveyors never take components apart to determine their condition. They simply observe and listen. If they determine a piece of equipment doesn’t operate properly, they will recommend further examination be carried out by a specialist. Being able to listen, observe and determine if there is a problem requires a lot of experience.

Get a written contract with the surveyor

Another very important thing you must do is establish a written contract with the surveyor. The contract has to be written in plain English and must include all the details regarding what the boat survey will cover as well as how much the service will cost. With a written contract, you will be able to know precisely what you will get for your money.

If you need a survey done for insurance purposes, it is imperative that you contact your insurance company to know about the information that has to be included in the survey report. You also need to make sure that a report from your selected boat surveyor Cape Coral will be accepted by the insurance company.

Know what will not be included

While a survey should include a thorough inspection of the interior, you also need to know what will not be included. For example, most surveys don’t include the condition of engines. If the operation of the engine is not normal, the marine surveyor will recommend that you get it inspected by a professional marine mechanic.

Be present

Last but not least, you need to be present for the survey. That way you will be able to ask questions during the survey as well as help the surveyor around your boat. After the survey, the surveyor will sit down with you to go through the defects he or she discovered.

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Boat Surveyor Cape Coral – Steps in a Boat Survey

If you have never bought a boat before, you are probably unfamiliar with the benefits of working with a boat surveyor Cape Coral. While it is easy to trust what a seller says and inspecting the boat on your own, you will be safer working with an experienced surveyor. The marine surveyor has the equipment, training and experience needed to know when there is a problem and how to document issues accordingly. Moreover, financial and insurance companies only accept survey reports from reputable surveyors.

Now that you understand why you should work with a boat surveyor Cape Coral, let’s focus on the process that is involved during a typical boat survey. Here are some of the things you should expect to do when buying a boat.

Choose a boat

The work of a surveyor is not to help you find the boat that best meets your needs but rather to let you know if you are making a sound investment or not. It is your job to complete research on the boat you want. If you do not understand the paperwork on a boat, reach out to somebody that does. After finding a boat that impresses you, it is time to get a signed contract. You will then need to make a deposit so that a boat survey and mechanical inspection can be organized.

Contract

A contract of sale is made before a deposit is made. This has to be written up as well as agreed to by both the seller and the buyer. It is normal practice to include a clause that states how much deposit is to be paid as well as when the balance will be paid if there is a satisfactory boat survey. The boat survey has to be completed within a set period of time and sea trial has to be undertaken. If issues are discovered by a boat surveyor Cape Coral, the buyer and seller cannot agree on fixing it or negotiations, there should be a clause that states a full refund of the deposit. The contract also includes sufficient time for the problems to be fixed as well as ample time for a boat surveyor to be found and a survey to be conducted.

Deposit

In most cases, you will be required to pay a deposit of 5% to 10% of the total cost of the boat. The deposit has to be made before a survey is done. A deposit has to be paid to prove to a seller that a buyer is serious about buying the boat. Needless to say, a marine survey is a lot of work that involves inspecting, testing, slipping and sea trialing.

Organizing a survey

Once the deposit has been paid, a marine survey can now be done. Most surveyors include mechanic inspections while other use imaging equipment to look inside components without dismantling them. You will get a survey report within a few days.

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How to Find the Best Marine Surveyor Cape Coral

Choosing the right marine surveyor Cape Coraland commissioning him to do some surveying work is an important part of making sure the vessel is seaworthy. A marine survey will further help you know if a vessel complies with relevant maritime standards and meets all the necessary insurance and finance requirements. The big question, however, is this; who should you hire for the survey? This post takes a look at the most important considerations you should make when searching for a boat surveyor.

Know the type of survey you need

The first thing you must do is know the type of survey that you need. Do you need a survey for the insurance companies or do you simply want to know if the boat is a worthy investment? Knowing the type of surveys you need will help you identify the skills and knowledge to look for in a marine surveyor Cape Coral. The last thing you want is to spend money on a survey that will never be accepted by your insurance company. Knowing what you need from the boat survey will help you focus on the professional that offers the services you need.

Region covered

The region a boat surveyor covers matters. You don’t want to bring in a surveyor that has never performed a single survey in your region. This means such a surveyor will not be able to comply with all the standards in your region. Insurance and financial institutions may also be unwilling to accept a survey report from a surveyor that doesn’t work in your area. Cape Coral Marine Surveyor serves boat owners in Cape Coral and the surrounding areas. The company also addresses needs for marine surveys and other services across the US and the Caribbean.

Type of vessels surveyed

A surveyor who focuses on surveying cargo ships will be ill equipped to survey your yacht. Before you hire a marine surveyor Cape Coral, make sure they have experience surveying boats that are similar to yours. Cape Coral Marine Surveys all sailing vessels, power boats and yachts.

How long it takes to get a report

Another important thing you need to check is how long it takes for the surveyor to provide you with a detailed survey report. A reliable surveyor should be able to provide you with a highly detailed survey report within 1 to 3 business days following the conclusion of a survey.

How their rates compare with other surveyors

Last but not least, you need to know how much the surveyor charges. To make sure you are not being exploited, get quotes from multiple surveyors. Doing so will give you a rough idea on the average cost of a boat survey in Cape Coral.

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Marine Surveyor Cape Coral – What is the Scope of a Pre-Purchase Survey?

Buying a used boat mandates that you work with a marine surveyor Cape Coral. The surveyor will perform a pre-purchase survey that will let you know if the purchase will be a worthy investment. This is done by looking at the current condition of the boat and determining its fair market value.

Anyone can hire a marine surveyor Cape Coral for any reason but there are market forces that have created a ‘normal’ pre-purchase ‘condition and value’ survey. A pre-purchase boat survey is a limited inspection and is what the market has been accustomed to paying for. It focuses on what is accepted by lenders and insurance companies. You should also note that a survey is a snapshot of a boat at a particular moment. You should, therefore, not depend on surveys that were done months ago because there is no guarantee the boat is still in the same condition it was in when the survey was performed.

When performing a survey, a boat surveyor will not disassemble permanent parts of the boat. They simply observe and listen to these components to determine their condition. If there is an issue that needs a closer inspection, the surveyor will recommend working with a mechanic.  

A classic survey routine for a boat in the water begins with an inspection in its slip. A haul and bottom cleaning is done and once it dries the surveyor inspects its condition. Once this is done, the survey will re-launch the boat and perform a short sea-trial. This is all done in a single day on most vessels. It may take longer on larger vessels.

The surveyor has to modify the survey based on the weather. Unfavorable weather conditions can delay a survey and cause the boat surveyor Cape Coral to reschedule.

On larger powerboats, a marine surveyor Cape Coral can suggest that you include an engine surveyor. This is because the engine plays the most important part of the value of a boat. For sailboats, surveyors may be willing to go up masts for a rigging inspection. The added work will, however, add expenses and time to the whole process.

At the end of a survey, the marine surveyor will provide you with a written report. The report includes the description of the boat and all onboard systems. It also details findings and recommendations. The surveyor will also include a statement of the overall condition of the boat as well as the fair market and replacement values of the vessel based on industry data and comparable sales. The report further comments on the conditions of the boat’s components and may also state if the boat is fit for the intended use.

Marine Surveyor Cape Coral