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;