mw marine survey

This is a comprehensive survey recommended when a client is considering purchasing a vessel. For a full assessment to be undertaken the vessel should be examined both afloat and out of the water. This may entail extra costs for the client where the vessel has to be lifted out of the water for survey purposes. The aim of the survey is to ascertain the maintenance status, general condition, structural and mechanical seaworthiness and watertightness of the vessel and determine whether it is fit for its designed purpose. As far as is practicably possible any faults or defects will be identified and assessed as major, minor or cosmetic in nature. Inspection of the exterior hull when the vessel is out of the water includes moisture meter readings when appropriate and examination of the rudder, keel, propulsion gear, cathodic protection and other underwater equipment such as bow/stern thrusters. This level of examination cannot be undertaken if a vessel is inspected afloat only. The inspection will where possible cover the general condition and serviceability of onboard systems including electrics, gas, sewage, water and onboard machinery (non-invasive inspection only). Where possible a prospective owner should undertake a sea-trial in addition to a pre-purchase survey in order to assess the vessel’s performance and the function and operation of all onboard systems.

This survey is conducted so that a prospective underwriter can determine whether or not a vessel is an acceptable risk under marine insurance policy clauses. This survey should include an out of water inspection and covers structural integrity of the vessel for its intended or declared use. Most insurance companies will require such surveys on older vessels, valid for a specified period, usually 5 years, and an appraisal of fair market value.  

This is a brief limited inspection undertaken in order to determine or justify the fair market value of a vessel which is normally needed for mortgage or other finance related purposes. For valuations relating to legal cases the Surveyor may be required to justify his assessment of value before a court and should be able to confirm his assessment using published or other publicly available data for similar types of craft. This type of survey can be included as part of a pre-purchase survey at a small additional cost.

This type of survey is intended to establish the damage (defined as the loss of value or usefulness) as a result of an incident such as grounding, collision or storm damage. These surveys are usually instructed by an insurance company to assess the extent of any damage resulting from an alleged casualty, in order that they can establish liability under the marine insurance policy. Views on any recommended repairs, an estimate of the cost of such repairs, and the probable cause and consequent damage are usually required.