After locating the right boat to buy, the next thing you have to think about is the surveying process. Getting a boat surveyed by an experienced marine surveyor Fort Myers is very important when you want to avoid surprises after paying for it. This is because a thorough survey will help you understand the exact condition of the vessel, help you know how much the repairs will cost and help you know its fair market value. But how does the survey process work?
Boat surveying process
A marine surveyor Fort Myers will not be allowed to do his job until there is an agreed offer between the buyer and the seller. The buyer pays for the survey and hauling of the boat while the seller provides the sea trial. This means the surveyor works for you, the buyer. As a result, the buyer will want to be certain you are serious about buying the vessel before agreeing to a surveyor inspecting the boat. In most cases, you will be required to pay a deposit.
After a surveyor has been selected, a date is scheduled for the survey. A typical survey starts in the morning and concludes by midday. A haul may be required to inspect the bottom of the vessel. The vessel will then be relaunched to allow for a sea trial. A sea trial mostly checks the engines and the sails. Sea trials take about an hour. The boat will be brought back to the dock and the surveyor will continue inspecting the boat until they are done. If you are present during the survey, the surveyor may go over the main points on the same day. It will take about 3 business days for you to get the complete survey report.
Cost of survey
The surveyor works for the person who hires them. A seller can hire a surveyor to instill confidence in potential buyers. In this case, the seller will pay for the survey. In most cases, the buyer hires the surveyor. Typically, it costs about $25 per foot for mono-hulls and about $30 per foot for catamarans. You also have to factor in an additional $200 to $300 for the marine surveyor to come back and sign off on the repairs before closing. The haul-out fees are also paid on the day of the survey and cost between $6 and $9 per foot.
Just because a seller had a boat survey done recently doesn’t mean you cannot hire your own surveyor. This is more so if the survey was done more than 6 months ago. Keep in mind that a survey is a snapshot of the boat’s condition on the day the survey was done. A lot can change within a few weeks.
Marine Surveyors Fort Myers
Buying a boat is one of the biggest investments you will ever make. That is why involving the services of a marine surveyor Fort Myers is important. The surveyor will evaluate your boat to determine if it is a good investment or not. In addition to this vital assessment, it is imperative that you always get boat insurance for your boat. Doing so will protect your investment and give you peace of mind knowing in case something happens to your boat you will not suffer a loss.
There are many companies that offer boat insurance. To determine whether you need ‘agreed value’ or ‘actual cash value’ insurance and to avoid being insufficiently covered, you will need help from a marine surveyor Fort Myers. Most insurers require that a survey be done before they insure a boat. This is done to ensure they don’t insure an already doomed vessel. You must make sure that the marine surveyor you use will be approved by your preferred insurance company.
Prior to insuring a boat, there are several factors insurers take into consideration. While almost any vessel can be insured for a price, how much you end up paying for insurance will depend on the following factors:
- Age of the boat
- Length of the boat
- Value of the boat
- Current condition and whether it meets the US Coast Guard Standards
- If the boat is used as a primary residence
- Number of previous owners
- Where the boat is operated
- Type of boat
Understanding the factors insurance companies look at before insuring a boat is not enough. You now need to take a look at the various kinds of boat insurance policies. Marine insurance policies include the following:
- Personal watercraft
- Yacht. Yachts are vessels longer than 27’
- Boat and personal watercraft rental
- Boat clubs covers members of club while operating a boat
- Professional. The policies are customized and cover items such as travel to tournament, and equipment.
If you need complete coverage for your boat, what you will need is an ‘all risk’ policy. This will offer the best protection. It is, however, good to note that this type of coverage will not cover everything. Some risks will be omitted in the policy. The main risks excluded include wear & tear, denting, marring, manufacturer’s defects, ice & freezing and animal damage.
It is possible to add extra coverage. Some available options include personal effects, medical payments, towing & assistance, and uninsured boaters’ liability. The majority of insurance policies cover permanently attached equipment and items like oars, anchors, tools, seat cushions, trolling motors and life jackets. Always discuss your options with your insurance agent. Your marine surveyor Fort Myers will also help you understand what you can and cannot get from an insurance cover.
Marine Surveyor Fort Myers
Buying a boat is a huge investment. This is irrespective of whether you are buying a brand new or a used boat. In most cases, this is one of the biggest investments you will ever make. Bearing in mind a lot of money will be spent buying a boat, you want to be certain you are making a good investment. That is where the need to work with an experienced marine surveyor Fort Myerscomes in.
The work of a marine surveyor is to inspect the vessel you plan on buying and document everything that he or she sees and hears. The marine surveyor Fort Myers will then provide you with a written report. This is referred to as a marine survey report.
A marine survey is highly technical. It includes several terms or jargon that will be unfamiliar to an average boat owner, bank employee or an insurance underwriter. The main challenge a marine surveyor has is making the marine survey report as clear as possible. The report has to be clear, concise and relay the information required by the customer. It has to be written in a manner that doesn’t require the surveyor to provide a tutorial on every piece of hardware or system on the boat. In addition to the thorough review of the boat, this is one of main advantages of working with a qualified boat surveyor.
Some survey reports are usually written in cryptic database style and others in an easy format. They don’t read as a manufacturer’s brochure or yacht broker’s listing. Regardless of the style used, the survey report will give you a good idea of what the overall condition of a boat is, what needs to be done to make it safe and function. If you have any question about the survey report, you can contact the marine surveyor Fort Myers for clarification.
Use of technology
If you have done some research on boat surveys, you probably know by now that marine surveyors never dismantle components to look inside. They simply observe and listen. If they cannot determine what the issue is with a component by listening and observing, they will recommend you to a mechanic. The good news is that surveyors are now using thermal imaging equipment to look inside components without disassembling them.
Finding the most qualified surveyor is the most important thing you should do when you need a boat survey. It is how competent a surveyor is that determines how comprehensive and dependable the survey will be. Make sure you work only with surveyors who have experience surveying boats that are similar to the one you are considering.
Marine Surveyor Fort Myers