A boat insurance survey, usually called a condition and valuation survey or C&V, is an inspection an insurer asks for before it will cover a boat or renew the policy. The surveyor checks whether the boat is a reasonable risk, mostly structure, safety, fire and flooding, and puts a value on it. In the US it typically costs $18 to $28 per foot. Most insurers ask for one once a boat is around 15 to 25 years old, and then every three to five years.
This guide covers when you'll be asked for one, what the surveyor checks, what it costs, and what to do with the recommendations at the end.
When an insurer asks for a survey
There is no single rule. Each underwriter sets its own triggers, and they change with the market. The common ones:
- Age. The most frequent trigger. Many insurers start asking at around 15 to 25 years, and agreed-value policies often start earlier.
- Size and value. Boats over roughly 30 ft, or worth more than about $50,000, are more likely to need one at any age.
- A new policy. Moving to a new insurer, or insuring a boat you have just bought, usually means a survey from the last 6 to 12 months.
- Renewal on a cycle. Older boats are often re-surveyed every three to five years, sometimes every two for the oldest.
- After a claim or a refit. Major damage, a re-power or a change in how the boat is used.
- Cruising area. Offshore passages, the hurricane belt or a long season in the tropics can bring extra conditions.
Sailing yachts carry one more: the rig. Some insurers want the standing rigging replaced every 10 years or so, others accept a rig survey instead, and some reduce what they pay out on an old rig. Check before the survey, because a rigger may need to go aloft on the same day.
Eight insurers' published rules, side by side, are in insurer survey rules.
What the surveyor checks
An insurance survey is narrower than a pre-purchase survey. The surveyor isn't advising a buyer on every system. They're answering the insurer's question: is this boat likely to sink, burn or hurt someone, and what is it worth?
| Area | What gets checked | Why the insurer cares |
|---|---|---|
| Hull and structure | Moisture readings, osmosis, cracks, delamination, keel and keel bolts, rudder | Structural failure, water ingress |
| Through-hulls and seacocks | Every fitting below the waterline, valve operation, hose condition, double clips | The most common cause of boats sinking at the berth |
| Bilge pumps and high-water alarm | Pumps run, float switches work, discharge above the waterline | Water ingress caught before it sinks the boat |
| Electrical | Battery installation and isolation, wiring, overcurrent protection, shore power inlet and cable | The most common cause of fire on board |
| Fuel system | Tank and line condition, leaks, ventilation, fuel shut-off | Fire and explosion |
| Gas (LPG) | Locker drains overboard, piping, regulator age, gas detector | Explosion |
| Engine installation | Mounts, exhaust, raw water cooling, leaks, belt guards | Fire, flooding through the exhaust or cooling system |
| Safety equipment | Fire extinguishers, life jackets, flares, life raft service date, navigation lights | Legal requirements and crew safety |
| Steering and controls | Cables, quadrant, emergency tiller | Loss of control |
| Rig, on sailing yachts | Chainplates, terminals, visible wire condition, rig age | Dismasting and the damage it causes |
The surveyor usually doesn't open engines or test every piece of electronics. An insurance survey can be done afloat if the hull has a recent haul-out record, but many insurers want the boat out of the water every few surveys, and some for every one. The yacht survey checklist has the full pre-purchase list, to compare.
The valuation
The "V" in C&V is the surveyor's opinion of what the boat is worth. Two figures often appear:
- Market value. What the boat would sell for today, based on recent sales of similar boats in similar condition.
- Replacement cost. What a comparable new boat would cost. Some insurers use it for partial losses.
The insurer uses the valuation to set the insured value. On an agreed value policy, that is what gets paid on a total loss. On an actual cash value policy, the insurer pays the market value at the time of the loss, which will be lower as the boat ages. If the survey value comes in well below what you paid, ask the surveyor which comparables they used. A valuation built on two old sales in another market is worth questioning.
What it costs
| US | Europe | |
|---|---|---|
| Rate per foot | $18 to $28 | €12 to €21 |
| 30 ft boat | $540 to $840 | €360 to €630 |
| 40 ft boat | $720 to $1,120 | €480 to €840 |
| Minimum charge | $350 to $550 | €400 to €550 |
On top of that:
- Haul-out, if the insurer wants the hull checked ashore. The yard bills it, usually $10 to $20 per foot in the US.
- Rig inspection on older sailing yachts, if the insurer asks for one.
- Travel, beyond the surveyor's local area.
Insurance surveys usually cost less than pre-purchase surveys because there's no sea trial, less time on systems and a shorter report. The boat survey cost guide covers the pre-purchase side in detail.
The recommendations, and the deadline that comes with them
At the end of the report, the surveyor lists what should be put right. Most surveyors split them in two:
- Safety and insurance items. Things that should be fixed before the boat is used, or within a short period. A seized seacock, a cracked hose clamp below the waterline, out-of-date extinguishers, a gas locker that doesn't drain overboard, a shore power inlet with burn marks.
- Other recommendations. Maintenance and wear, worth doing but not a condition of cover. Faded canvas, cosmetic gelcoat damage, a stiff winch.
The insurer reads the first list carefully. It may cover the boat on condition that those items are fixed within 30, 60 or 90 days, exclude them from cover until they are, or decline. Each insurer runs this its own way, so read the terms on your offer.
To clear the conditions, send the insurer proof the work was done: invoices from the yard, dated photos, or a short letter or re-inspection from the surveyor. Keep it all. It shortens the next survey, and it's the first thing a buyer's surveyor will ask for when you sell.
Insuring a boat without a survey
It's possible, mostly for newer, smaller or lower-value boats. Many insurers, and in the UK many online and specialist insurers, will cover a boat on the proposal form alone up to a certain age or value. Expect:
- Questions about the boat's age, value, mooring, engine and your experience.
- A declaration that the boat is in good condition. If it turns out not to be, a claim can be refused.
- Lower limits, a higher excess, or cover on actual cash value only.
Going without a survey saves the fee, and it moves the risk to you. If the boat has a problem nobody inspected, you find out when you claim.
Booking one: what to send the surveyor
- Make, model, year and length overall
- Sail or motor, engines, and hull material
- Where the boat is, and whether it's afloat or ashore
- Which insurer the report is for, and anything they've asked for specifically: out of water, rig check, a deadline
- The date of the last survey and haul-out, and the old report if you have it
- Recent work: re-rigging, new seacocks, rewiring, with invoices
Ask the insurer for its survey requirements in writing before you book. Some keep a list of surveyors they accept. Some have a checklist the report must follow.
For surveyors: a report the underwriter can act on
An insurance report gets read by someone who has never seen the boat. Every finding needs a location, what you saw, a reading where there is one, and a recommendation graded clearly enough that the underwriter knows what has to happen before the boat is covered. The marine survey report guide goes through the structure section by section.
Axsail is built for that write-up. You talk through the boat as you inspect it and take photos as you go. Each observation becomes a finding with its system, location, reading, recommendation and a suggested grade, and the checklist shows which systems you've covered and which you haven't mentioned. You review the draft, confirm each finding and sign the report. To try it on your next condition and valuation survey, start free.