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FREE TEMPLATE · INSURANCE SURVEY

Insurance survey report template (condition and valuation)

UPDATED 4 NOVEMBER 2026 · 8 SECTIONS · WORD, NO SIGN-UP

A free Word template for a condition and valuation survey report for boat insurance: each section explained, the insurer's requirements, market and replacement value, and example findings graded A, B and C.

Download the Word template.DOCX

An insurance survey report, usually called a condition and valuation report, tells an underwriter what they are being asked to cover: the condition of the structure and of the systems that can sink, burn or injure, what must be fixed before cover starts, and what the boat is worth. Lenders use the same report to secure a loan.

This template follows the order most surveyors and insurers expect, and the same order as the reports Axsail writes. Download it in Word, or read on for what goes in each section.

The report, section by section

SURVEY REPORT
Insurance survey
VESSEL
CLIENT
DATE OF SURVEY
PLACE
  1. 01Particulars
  2. 02Scope of survey
  3. 03Insurer's requirements
  4. 04Summary of recommendations
  5. 05Survey by system
  6. 06Overall condition
  7. 07Valuation
  8. 08Surveyor's certification
01

Particulars

The boat and the policy the survey is for. Underwriters match these details to the proposal form, so a wrong HIN or year delays cover.

  • Survey: client, insurer or broker, policy or proposal number if given, date, place, afloat or ashore
  • Vessel: name, make and model, HIN, year built, length overall, hull material, flag and registration
  • Machinery: engines with serial numbers and hours, outdrives or shafts
  • Use: intended navigation area, mooring or berth, and whether the boat is chartered
  • A photo of the boat
EXAMPLE WORDING

Prepared for the owner at the request of their insurance broker, for renewal of hull cover. Inspected ashore at the owner's yard on 22 October 2026.

02

Scope of survey

What a condition and valuation survey covers, and what it leaves out. It is shorter than a pre-purchase survey, and the insurer needs to know that from this page.

  • Purpose, such as new cover, renewal or a change of navigation area
  • Method, such as visual inspection, moisture meter, sounding and operating the systems that can be run ashore
  • Areas not inspected, and why
  • Whether a sea trial took place (usually none on an insurance survey)
EXAMPLE WORDING

This is a condition and valuation survey for insurance. It covers the structure, the systems that affect the safety of the vessel and its value. It is less detailed than a pre-purchase survey. No sea trial was carried out.

03

Insurer's requirements

The recommendations an underwriter will make a condition of cover, listed first and separately, so the owner can fix them and send confirmation. Most insurers want these done before cover starts or within a set period.

  • Every A recommendation, and the B recommendations that affect safety or the risk of sinking, fire or theft
  • A reference to the finding each one comes from
  • Space for the owner or yard to confirm the date each was completed
EXAMPLE WORDING

R1. Replace the two fuel filler hoses, which are cracked and unmarked, with hoses marked USCG Type A1 or to ISO 7840 (finding 4.3). Complete before the vessel is next underway.

04

Summary of recommendations

All the other recommendations, grouped by grade. They inform the owner and the underwriter's view of how the boat is kept, without being a condition of cover.

  • B, 12 months: deficiencies to fix within about a year
  • C, routine: maintenance and notes
05

Survey by system

The findings, system by system. An insurer reads for the risks it pays out on, so give most attention to what can sink, burn or injure.

  • Hull, deck and structure, with moisture readings
  • Through-hulls, seacocks, hoses and bilge pumping
  • Engine installation, exhaust, fuel system and gas system
  • Electrical installation, shore power and batteries
  • Fire fighting, life saving and navigation lights
  • Ground tackle and mooring equipment
  • Security, such as locks and a tracker if fitted
06

Overall condition

One rating with the reasons. Underwriters use it alongside the age of the boat to decide terms.

  • A rating: excellent, above average, average, fair, poor or restorable
  • Whether the vessel is suitable for its intended use and navigation area once the requirements are met
EXAMPLE WORDING

Above average for her age. Subject to the insurer's requirements being completed, the vessel is suitable for coastal use within 60 miles of a safe haven.

07

Valuation

The market value and, where the insurer asks, the replacement cost. The agreed value on the policy often comes from this figure, so show how you reached it.

  • Fair market value on the date of survey
  • Replacement cost of a new boat of similar type and equipment
  • Comparables with year, price and source
EXAMPLE WORDING

Fair market value USD 185,000. Estimated replacement cost of a comparable new vessel USD 410,000.

08

Surveyor's certification

Your statement, name, accreditation and signature. Many insurers only accept reports from surveyors accredited with SAMS, NAMS, IIMS or YDSA, so give your membership number.

  • Statement of independence and who may rely on the report
  • Name, accreditation and membership number
  • Signature and date of issue

Example findings

Each finding says what the system is, where it is, what was found and what should be done, with a grade for how urgent it is. These are written the way Axsail writes them from what the surveyor says on board.

FUEL SYSTEMA
Fuel filler hoses, port and starboard tanks

Both hoses cracked on the outer cover and carry no type marking.

Recommendation: Replace with hoses marked USCG Type A1 or to ISO 7840, double clamped.

THROUGH-HULLSA
Engine raw water intake, engine room

Gate valve fitted in place of a seacock. Gate valves can't show whether they are open and corrode internally.

Recommendation: Replace with a marine seacock, bonded if the boat's bonding system requires it.

FIRE FIGHTINGA
Portable extinguishers, saloon and helm

Gauges in the green, but both extinguishers are past the manufacturer's 10-year service life.

Recommendation: Replace both extinguishers.

ELECTRICALB
Shore power inlet, cockpit

Inlet cover cracked, with green corrosion on the pins.

Recommendation: Replace the inlet and check the cable end for heat damage.

BILGE PUMPINGB
Engine room bilge pump

Pump runs on manual switch. Float switch does not start the pump when lifted.

Recommendation: Replace the float switch and test the automatic cycle.

HULLC
Underwater hull

Antifouling worn through to primer in patches along the waterline.

Recommendation: Antifoul at the next scheduled haul-out.

ASafety. Safety or compliance deficiency. Fix before the vessel is next underway.
B12 months. Deficiency that needs timely attention. Fix within about 12 months.
CRoutine. Note or observation, cosmetic or maintenance. Routine maintenance at the owner's convenience.

What an underwriter looks for

Underwriters read an insurance survey report to decide whether to cover the boat and for what value. Make both easy to find.

  • The requirements list goes near the front, numbered, each with the finding it comes from. Owners send it to the yard, and the insurer asks for confirmation item by item.
  • The value goes in its own section, with both market value and replacement cost if the insurer asked for them. An agreed value policy uses one of these figures.

Keep the findings on structure, through-hulls, fuel, gas, electrical and fire equipment complete. A missing word about a seacock is a question from the underwriter a week later.

When insurers ask for a survey

Most insurers ask for a survey when a boat is first insured, when it reaches a certain age (often 10 to 25 years, depending on the insurer), after a claim, and every five to ten years after that. Our guide to the boat insurance survey explains what they look for and what it costs.

Frequently asked

What does an insurance survey report include?

The particulars of the boat, the scope of the survey, the insurer's requirements listed separately, the other recommendations by urgency, the findings system by system, the overall condition, a market value and often a replacement cost, and your signed certification.

Is an insurance survey report the same as a condition and valuation report?

In most markets, yes. Insurers and lenders usually call it a condition and valuation, or C&V, survey. It is shorter than a pre-purchase survey and usually has no sea trial.

Why list the insurer's requirements separately?

Underwriters make them a condition of cover and ask the owner to confirm each one is done. A separate list with a reference to each finding lets the owner and the yard work through them, and lets the insurer check them off.

Is the Word template free to use in my own reports?

Yes. Download it, add your logo and terms, and use it for your own surveys. No sign-up.

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