Purpose of an Insurance Survey

• Risk Assessment: Identifies potential safety hazards and structural issues that could lead to claims.

• Valuation: Establishes the current market value of the yacht for coverage purposes.

• Seaworthiness: Ensures the yacht meets safety standards and is properly maintained.

What an Insurance Survey Covers

• Hull and Deck Condition: Checking for structural integrity, osmosis, or damage.

• Mechanical and Electrical Systems: Evaluating engines, generators, wiring, and batteries.

• Safety Equipment: Confirming life jackets, fire extinguishers, bilge pumps, and other safety gear meet regulations

• Rigging and Sails (if applicable): Inspecting standing and running rigging on sailboats.

• Through-Hull Fittings: Ensuring watertight integrity and proper function of seacocks.

  General Maintenance & Upkeep: Looking for neglect or signs of poor maintenance that could lead to issues.

What Happens After the Survey?

• A detailed survey report is issued, outlining the yacht’s condition, estimated value, and any recommended or required repairs.

• The insurer reviews the report and may require repairs or modifications before issuing or renewing coverage.

• The survey can also help the owner understand the necessary maintenance to protect their investment.