A condition and valuation survey, C&V for short, does what the name says: it reports the boat's condition and ends with the surveyor's opinion of what it's worth. Discover Boating calls it the most common type of boat survey, covering the entire boat and its propulsion.
Insurers ask for one to set the agreed value and decide whether to cover the boat, and lenders ask for one before they finance it.
What it covers
Structure, systems, safety equipment and compliance, with each finding and its recommendation, then the value. Discover Boating describes the insurance C&V as generally less comprehensive than a buyer's survey, sticking to a list of specific items. A buyer's C&V usually adds the haul-out and sea trial in full.
The value comes from comparable boats, sold or for sale, adjusted for what the survey found. The report usually gives a market value, and some add a replacement cost.
In the report
The findings and recommendations, then the valuation and how it was reached. See our condition and valuation survey guide and appraisal report template.