Boat Insurance Cape Coral – Answers to Common Questions About Boat Surveys

One of the things you will be required to do when applying for boat insurance Cape Coraltrusts is to get a boat survey. But are the two related? The answer is yes. Your insurance company will want to know how much your boat is worth before deciding how to insure it and how much you should pay in premiums. So let’s take a look at other common questions about marine surveys.  

Which are the main types of marine surveys?

There are many types of marine surveys available. The survey you end up getting will depend on what you need the survey for.

  • Insurance survey

Before being qualified for boat insurance Cape Coral recommends, you will have to get a survey done. An insurance survey is very basic because it looks at the list of items requested by an insurer. However, the primary focus here is the overview of the boat’s condition. This information is needed before a boat insurance cover is offered.

  • Finance survey

This is like an insurance survey, only that marine mortgage lenders or financial institutions request it. A marine survey must be done before the lender signs off on finance. This is done when using your boat as collateral.

  • Pre- or post-transport survey

Whether you buy a brand new or a used boat, you will benefit from this survey if the vessel has to be transported. The survey looks at the condition of a vessel before or after it has been transported. It is used for insurance purposes.

  • Pre-purchase survey

This is also referred to as a full condition survey. It is the most comprehensive type of boat survey. The surveyor will check everything and even perform a sea trial. Different boats have different requirements for what has to be inspected in a pre-purchase survey.

Who pays for the survey?

The person who hires a surveyor is the one who pays for their services. For example, following an accident, your insurer will send their surveyor to assess the extent of damage to your boat. In this case, the insurer will be the one footing the bill.

Who should you hire to survey your boat?

Choosing a boat surveyor is not something you must ever rush. You need to take your time to ensure you find someone that will give you a comprehensive survey report. The surveyor you hire should be registered with an official surveying organization, have specific experience surveying the type of boat you are interested in and provide clear and comprehensive survey reports.

Buying a boat is a huge investment. Make sure you get your vessel surveyed properly before making an offer. You should also get boat insurance in Cape Coral to protect your investment.

Boat Insurance Cape Coral