A Condition and Valuation Survey, often referred to as an Insurance Survey, is a professional assessment of a vessel’s overall condition, safety, and fair market value. This type of inspection is typically required by insurance companies when a boat changes ownership, undergoes modifications, or at regular intervals to ensure it remains a safe risk for continued coverage. Financial institutions may also request a C&V survey to determine a vessel’s value for financing, estate planning, or legal documentation.
The primary goal of a Condition and Valuation Survey is to verify a vessel’s structural integrity, seaworthiness, and maintenance condition, while also establishing an accurate market value. Although many of the same components reviewed in a Pre-Purchase Survey are included, the C&V survey places particular emphasis on identifying safety hazards,
maintenance deficiencies, and potentially hazardous flaws that may affect the vessel’s insurability or overall value.
This type of survey generally does not include a sea trial or haul out, unless specifically requested by the underwriter or owner. However, for older vessels or new insurance policies, the insurer may require a haul out to inspect the hull’s wetted surface, running gear, and underwater fittings.
Following the inspection, the Marine Surveyor will provide a comprehensive written report, including digital photographs and detailed observations. This document serves as an essential
reference for insurance underwriting, financing, or future maintenance planning.
