Assessment of damage to a vessel following a loss, full or partial. Preparation of details so that shop repair estimates are proper for settlement between claimants and the insurance company. Assurance all necessary underwriting items needed to recommission a vessel are accounted for, with a focus on structural integrity, safety and valuation.
C&V / INSURANCE SURVEY
Vessel condition and valuation assessment to ensure safety, seaworthiness and proper insurance to value. A customary insurance survey is a visual inspection (limited by nature) from accessible areas, without removal of fastened panels, appurtenances, destructive testing, taking of core samples or disassembly of any kind.
- An opinion of overall vessel condition and Market Value will be based on new and used publications for the geographic area where the vessel is located. These publications will only secondarily support the surveyor’s professional opinion, experience and judgment, which will be the predominating factor in determining overall condition and fair value.
- Recommendations will be based on American Boat & Yacht Council (ABYC) voluntary standards, United States Coast Guard (USCG) compulsory standards and the National Fire Protection Association (NFPA) standards. Some of the USCG (33 CFR) Codes, NFPA Codes, and ABYC recommendations in effect today may have been enacted after the vessel was manufactured. The recommendations thought to be necessary for safety will be addressed.
An Insurance Survey does not include sea trial or internal engine diagnostics. A sea trial by licensed captain or engine survey by certified mechanic are services separate from the customary condition & valuation report.