What is a valuation survey and what’s included?
A valuation survey is usually carried out by the owner of a vessel after substantial works have been completed. The aim is to assess the value usually to increase the insured value of the vessel.
What is covered in the survey
- Description of the Vessel – High level summary of the vessel including visual check of HIN and CE plate (if present).
- General condition – Visual condition of boat, finishings and systems.
- Research & External input – Overview of inputs including list of any changes since last survey, feedback from broker(s) and any other inputs.
What is not covered in the survey
- Seaworthiness of the vessel to know whether what if any works should be completed for the planned usage;