Marine surveying is the inspection of boats and cargo to determine the safety of equipment and its value. If you're looking to buy a used boat, conducting a survey is your best bet to ensure you're getting a good bang for your buck. Read on for more details on the four main types of marine surveys you could use to be ready to set sail.

Condition and Value Surveys

A condition and value survey is the most comprehensive assessment a boat can receive. It provides potential buyers and insurance agents with a professional evaluation of a vessel's condition and market value. A condition and value survey inspects:

• Structural integrity
  
• Safety equipment
  
• On-board systems
  
• The hull
  
• Ship readiness

A condition and value survey will also examine a boat's engine and propulsion systems. According to the Observatory of Economic Complexity, in 2019, Germany, South Korea, Japan, the United States, and Sweden were the top exporters of such marine propulsion engines. After the condition and value survey, the resulting report will include recommendations for improving safety, conducting maintenance, and completing repairs.

Appraisal and Pre-Purchase Surveys

An appraisal survey is conducted to determine a boat's approximate value. These are usually requested by a lawyer for estate settlements or divorce cases. A pre-purchase survey provides buyers with an estimate of the boat's fair market value. A lender may require a pre-purchase survey before agreeing to finance a boat. These surveys are usually less in-depth than a condition and value survey. The survey's written report will contain general comments on a vessel's overall condition and market value.

Damage Surveys

A damage survey evaluates the extent of damage, determines the probable cause, and estimates the cost of repairs. This type of marine surveying is conducted after a storm or accident. However, some boat owners will request a survey if they notice out-of-the-ordinary wear and tear. A damage survey will inspect the following:

• The hull
  
• The rig
  
• On-board systems

Insurance companies request most damage surveys to investigate claims.

New Yacht Surveys

A new yacht survey is required for large, expensive boats. They're done on custom-built yachts, and the ship will be examined several times during construction. However, a survey isn't necessary if you're using a reputable boat builder.

If you need inspection services, contact David Hinkel, Inc today! We have decades of experience and our reporting is especially comprehensive. We look forward to hearing from you!