How Do I Choose a Marine Surveyor?
The most experienced and qualified marine surveyors, after years of experience and testing and who meet strict Guidelines are eligible to apply for the coveted AMS (Accredited Marine Surveyor) designation. The AMS title designates full membership in the SOCIETY OF ACCREDITED MARINE SURVEYORS, the professional accrediting organization that requires members to meet and maintain strict professional, technical and ethical standards.
SAMS AMS Surveyors provide a professionally prepared report that can be accepted by banks and/or insurance companies, citing referenced ABYC, NFPA and USCG standards in the survey.
A thorough inspection will not be rushed and will depend on the type of survey required based on vessel size, equipment, and onboard systems. There may be additional services available such as engine surveys, oil analysis, galvanic and stray current corrosion testing, ultrasonic testing, moisture testing and other nondestructive tests. There may be additional charges for these and other services.
Well conducted surveys can provide good information on the vessels’ condition, but they are not guarantees. The surveyor reports the condition in accessible areas only as it exists at the time of inspection.
Why should you have a vessel surveyed?
1. Most insurance companies and banks will require them. They will need to know the vessel’s condition and Fair Market Value in order to finance and/or underwrite the vessel.
2. You as the prospective Purchaser need to know the vessel’s condition and Fair Market Value before you buy.
However, the most important reason to survey your vessel is for the safety of the passengers and crew.
What Type of Survey Do I Need? Marine Surveys are performed for a number of reasons, and the procedures for each vary to best suit your needs:
Pre-Purchase Survey
This is the most comprehensive type of inspection and is strongly advised when purchasing a new or used vessel. Condition and overall operation of the vessel should be examined. This covers structural integrity, electrical systems, the propulsion system, the fuel system, other machinery, navigation equipment, miscellaneous onboard systems, cosmetic appearance, electronics, and overall maintenance as well as an out-of-water inspection and a sea trial.
Insurance Survey
This inspection is performed so that the insurance company can determine whether or not the vessel is an acceptable risk. They are interested in structural integrity and safety for its intended use. Most insurance companies require a survey on older boats. They will also want to know the vessel’s fair market value.
Appraisal Inspection
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, donations and legal cases.
Damage Inspection
The surveyor can be retained by an insurance company to determine the cause of a loss and determine the extent of loss related damage and may be asked to recommend repairs, review estimates, and determine the pre-loss value of a vessel. A vessel owner can retain a surveyor for the same purposes, but for the owner’s behalf.
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