Did you know that you need the services of a marine surveyor when insuring your boat? The role of a boat surveyor near me is to assess, monitor and report on the condition of a boat. The surveyor will perform an extensive survey that includes such tasks as equipment examination and recent major repairs done on the boat. In most cases, the insurer will provide the surveyor with a list of items that need to be looked at. The insurer may also be picky about the surveyor you can use. You should, however, make sure that you use an independent surveyor and not the one sent by an insurer. The surveyor from the insurance company will most likely be biased.
An insurance survey is not as comprehensive as a pre-purchase survey. All the same, it is important for both you and the insurer. For you, the boat surveyor near me will ensure that you get the right amount of coverage. Insurers, on the other hand, request insurance survey reports to avoid insuring a high-risk vessel.
Purposes of an insurance survey
There are two main purposes of an insurance survey. The first is to identify the vessel, its equipment, the condition it is in and its general value. This information is especially important for the insurer because it helps determine if the vessel is worth insuring. The findings of the marine surveyor also help the insurer determine how much to charge in premiums and the kind of coverage you can get.
The second reason for an insurance survey is to identify defects, hazardous conditions or damages on the boat. The objective is to identify things that may be a threat to the safety of the boat and its passengers. If the damages or defects are too much, the insurer may refuse to insure your boat or charge you high premiums because you own a high-risk vessel.
Who can get an insurance survey?
An insurance survey is requested by an insurer. This means the survey is not offered to persons who wish to buy a boat. The survey is done for the purposes of risk assessment. The survey report will include the areas that were inspected and what the inspector found.
An insurance survey will contain the following:
- Statement of the purpose of the marine survey
- Date and location of the survey
- Status of the vessel: hauled or afloat
- Boat’s builder, model and year of construction
- Identifiers such as registration number, engine serial numbers and hull number
- Boat’s specifications including dimensions and machinery parameters
As you can see, the role of a boat surveyor near me is indispensable when buying and insuring a boat. Always make sure that you hire a surveyor that will be accepted by your insurance company.