RACV, whose boat policies are issued by Insurance Manufacturers of Australia, may ask for an Out of Water Survey and Valuation Report before it insures a moored boat. Its one-page guide says exactly what the report must contain, which makes it a useful checklist for any insurance survey.
When it's needed, and how recent
RACV's boat insurance page says a fibreglass boat under 10 years old probably won't need a report. Beyond that, the report must be dated within:
| Hull | Boat under 10 years | Boat over 10 years |
|---|---|---|
| Fibreglass | Usually not needed | 5 years |
| Other materials | 5 years | 3 years |
Who can write it
Someone who carries out marine surveys as their profession, with the insurances and qualifications to match. The report is typed, on letterhead with the surveyor's full name, registered business name, contact number and ABN, and goes to RACV as a PDF.
What the report must cover
RACV lists these as essential, for every boat:
- how the survey was done (out of the water)
- make, age and registration or serial numbers
- structural and cosmetic condition of the hull, decks and superstructure
- deck hardware, fixtures and fittings
- motors and engineering components
- internal plumbing and drainage
- every through-hull fitting and valve
- wiring, electrics and electronics
- safety equipment, with expiry dates
- bilge pumps, electric and manual, with float switch details
- antifouling and anodes
- detailed comments and recommendations
- a current valuation
For a yacht, add the mast and its fittings (chainplate fastenings, mast step and boom), the standing rigging, and the keel to hull joint with its bolts.
Rigging age
RACV notes that wire stays are generally accepted to last about 10 years. If you don't know their age, say so in the report and recommend a qualified rigger inspects the mast and fittings.
Recommendations
Every defect goes in the report with a recommendation that a suitably qualified tradesperson fixes it. RACV uses the report to decide whether to add special conditions to the policy.
For the surveyor
RACV's list is long, and a missing item means a phone call. Work through it in order on the hard, and say each item as you check it. Axsail writes each one into the report as a finding, and the checklist shows which systems you haven't mentioned yet.