This is the most comprehensive type of survey and is strongly advised when purchasing either a new or used vessel. Condition and overall operation of the vessel should be examined. This inspection will include structural integrity, the propulsion system, electrical systems, tankage, electronics, overall maintenance as well as an out of water bottom survey and a sea trial. All safety gear is also inspected. A monetary fair market value will also be placed on the vessel using various comparables and accepted valuation techniques
This inspection is performed to give insurance underwriters enough information to determine whether or not the vessel is an acceptable risk. They are mostly interested in the structural integrity and if the vessel is safe for its intended use. Most insurance companies require a survey on older boats every two years. They will also want to know the vessel's fair market value.
This inspection is performed to gather enough information to justify or determine the fair market value of the vessel. This is normally needed for financing, estate settlements, divorces, donations, and legal cases.
This type of survey is conducted to assess the extent of damage, recommend repairs, estimate repair costs, and if requested, possible cause.