Do I need a survey?
Many insurance companies won’t consider insuring a used boat that hasn’t been surveyed.
Many lenders won’t consider financing a used boat that hasn’t been surveyed.
Used boats are subject to many problems that are hidden from view and require a professional to spot. In some cases, the findings from a surveyor can impact the negotiation process.
A marine survey is helpful in determining what repairs or upgrades may be necessary to get a boat into safe operating condition. Boat surveys also help determine the actual value of a boat, since they can expose items in need of repair or replacement.
How to Choose a Marine Surveyor
Many people choose a boat surveyor via a recommendation from a broker, seller, or lender, while others depend on word of mouth. In some cases, lenders or insurance companies maintain lists of approved surveyors they trust. There’s one key factor to bear in mind: you should make sure any surveyor you use is a member of either the National Association of Marine Surveyors (NAMS) or the Society of Accredited Marine Surveyors (SAMS).
Both of these organizations have membership requirements and standards that surveyors have to meet in order to gain accreditation, so when you hire a NAMS or SAMS surveyor you know he or she is a professional.