The Condition and Value Survey, sometimes called an insurance survey or appraisal, a CVS, in its simplest terms, is a report on the current condition of a vessel and its equipment, and the current value of the vessel. A slightly less detailed report than a Pre-Purchase Survey, it assures the insurance company or financial institution that the vessel meets USCG, NFPA, & ABYC safety standards, and that it is an acceptable risk. The insurance company is most interested in the structural integrity and safety for the vessel's intended use, whether it be for small lakes, local waters or offshore use.

Depending on the requirements of the underwriter the condition and value survey may be conducted either in or out of water. A majority of insurance companies require a marine survey once a vessel has reached five years of age and usually every three years thereafter. For safety considerations, we recommend that a condition and value survey (CVS) be performed every two years.

The fee for this type of survey is based on the size of the vessel. This charge covers only the cost of the basic survey. All other services such as; engine analysis, sea trials and Spectrometric engine fluid analysis, just to mention a few, are available at an additional charge. (See our Marine Survey Price Schedule for additional services and pricing).

The Pre-Purchase Survey is a complete inspection of the vessel to ascertain its condition as to over all operational capability. The Pre-Purchase Survey report includes operations of all equipment and systems while the vessel is in water, electrical systems, navigation systems, propulsion system, fuel system, all machinery and electronics, sea trial, an out of water inspection of the running gear and a sounding of hull, complete inspection of the whole interior structure where accessible, estimated local market value based on condition and general maintenance, findings and recommendations. For a small additional fee this survey may include other services such as mast inspection above 6 feet, (if applicable), oil and engine analysis, among other available services. The Pre-Purchase Survey report may also be utilized by the Client for insurance or financing purposes.

This report is issued in compliance with boating safety standards set by the National Fire Prevention (NFPA), Association and the American Boat and Yacht Council (ABYC), as well as The United States Coast Guard safety requirements (USCG). These nonprofit organizations are the benchmarks of a Professional Marine Surveyor.

The fee for the Pre- Purchase Survey is based on the size of the vessel. This charge covers only the cost of the basic survey. All other services such as; engine analysis, and Spectrometric engine fluid analysis, among other available services, are available at an additional charge. (See our Marine Survey Price Schedule for additional services and pricing).

The Damage Survey is normally requested by the insurance company to assess the extent of loss related damage, recommend repairs, estimate and obtain a cost of repair agreement and determine the probable cause of damage. The fee for this type of survey is primarily based on the complexity of the individual claim itself.

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Updated: March 15, 2010