Condition & Valuation Surveys

The Condition & Valuation (“C&V”) survey sometimes referred to as an Insurance survey, may also be used to refinance your boat loan. Insurance companies usually require that a C&V survey be conducted on a periodic basis (e.g. every 3 to 5 years) as a condition for policy renewal.

The fee for the C&V survey is based upon the length of your vessel. For a quotation please email me with vessel details including;

  • Manufacturer / Model
  • Length
  • Location
  • Year

The purpose of the C&V survey is to provide the insurance or loan underwriter with an evaluation of the vessel’s structural integrity, fair market value and safety. Based on this evaluation, the underwriter determines whether or not the vessel is an acceptable risk. Typically a Condition and Valuation surveys may take place out of the water allowing for a bottom survey. Some insurance may accept a survey when in the water or place coverage with the agreement a bottom survey will be completed when the vessel is taken out of the water at the end of the season. This is a discussion you will want to have with your insurer to ensure the survey will meet your needs.

The depth and scope of a C&V survey does not approach the level of detail provided in a Pre-Purchase survey but may be a good starting point. Once complete, can discuss the survey and you can decide if you want to go further in depth and complete a Pre Purchase survey or define items you want more closely investigated.

Pleasure Craft Surveys strives to provide the client with a survey meeting their needs. It is important you understand the need of your insurance company prior to survey. Pleasure Craft surveys is approved by most Newfoundland insurance and companies, if not listed with yours I can work with them to have it my survey accepted at no cost to you.

Pre Purchase Survey

The pre-purchase survey is a comprehensive inspection of a vessel. It is conducted primarily to ensure the safety of the prospective owner and crew by examining the vessel. The survey will reference Transport Canada Regulations and Standards, American Boat and Yacht Council (ABYC) standards as well as other applicable standards. A prospective vessel buyer may choose to have a Pre-Purchase Survey complete to help evaluate the condition of the vessel. If required, based on initial survey and discussions with the prospective owner, other disciplines may be brought in to verify the condition of machinery electrical or rigging if required.

Typically, I suggest you start with a Condition and Valuation Survey while out of the water and from there, with discussion, define what further may be required. For a quotation please email me with vessel details including;

  • Manufacturer / Model
  • Length
  • Location

Due to the time required the cost of a pre-purchase survey is not trivial. However, it may prove to be cost effective as it may identify expensive problems not observed by the buyer. This can be especially true for older vessels (10+ years) or vessels that the history is not known. The information from the survey can help the buyer have the facts to make a decision to walk away from a vessel that may require extensive work or repair.

Pre-purchase surveys may include;

  • In-water inspection
  • Out of water inspection
  • Sea trial
  • Detailed machinery Inspection (separate Discipline) depending on initial survey
  • Detailed electrical Inspection (separate Discipline) depending on initial survey

Although surveys can be conducted out of the water, potential problems such as a leaking stuffing box, or shaft vibration may exist that can only be detected while in the water or during a sea trial.

The in-water inspection is the bulk of the work for the surveyor. During this part of the survey the following will be inspected;

  • The accessible portions of the vessel hull interior
  • Accessible undersides of decks
  • Engines
  • Generators
  • Fuel System
  • Domestic water systems
  • Electrical Systems
  • Equipment operated

If there are questions on the machinery and electrical systems the assistance of a marine mechanic or marine electrician may be required for further inspection.

The bottom survey will be conducted when the vessel is hauled out. To aid in inspection the hull will need to be cleaned of excessive marine growth. Time for the hull to dry, as well as favorable weather conditions may be required for moisture readings to be taken for fiberglass hulls. For sailing vessel the mast may need to be removed to allow for detailed inspection and sails may need to be opened.

The sea trial allows the vessel to be examined while underway. This includes;

  • Engines tested at full throttle and operating temperatures
  • Gearbox operation in forward and reverse
  • Temperature readings taken at the engine and compared to the gauges
  • Check for signs of engine leaks and vibration

To help improve the quality of a survey the buyer can assist by being prepared and organized. The vessel should have non-essential gear removed allowing for as much of the hull and deck inferior to be accessible for the survey. Any areas where complete inspection cannot not take place will be clearly described in the report.

A vessel buyer will have to work with the current owner or broker to ensure that the vessel is as ready for the survey. A discussion with the buyer prior to discuss preparation will be conducted to aid in the process.

Damage Surveys

I can complete or review damage evaluation surveys with repair recommendations, for vessel owners as well as underwriters.

 

Transport Canada Appointed Tonnage Measurer

I am a Transport Canada Appointed Tonnage Measurer and can complete tonnage calculations for your vessel registration.  Contact me for more details and rates.