Condition and Value Survey for Insurance
Similar to a Pre-Purchase Survey, however less extensive:
- A visual inspection of Hull, Exterior, Interior and Sailing Hardware(if applicable)
- The condition of the Helm equipment, Electronics, Upholstery and Galley equipment
- A list of Propulsion Equipment and serial numbers(if legible) , Accessories and Machinery aboard and the visual condition
- A value based on Similar vessels with similar equipment currently for sale or have sold within the last
A condition and value evaluation is part of a marine survey that helps the insurance company identify any issues that could lead to an imminent claim. It also helps set the value of the boat the insurance company uses on the policy.