Marine Survey FAQs
1. What are your fees?
The most important question!
All survey costs are based upon the length in feet multiplied by a 'complexity' factor which represents the type of survey required. For example, ball park figures for all the survey types available for a 35ft yacht are as follow:
Pre-purchase survey - £500 (approx.)
Insurance survey - £425 (approx.)
Structural survey - £350 (approx.)
Limited outer bottom - £300 (approx.)
Please note - the above are not exact costs for a 35ft yacht but they are a good guideline. The cost of the report is included in the price and travel costs are free within a 50 mile radius of Southampton. After that they are charged at 50p per mile. But as each survey is unique, the cost will always be tailored to the yacht in question and outlined in the quote. For larger or more complex surveys that require being undertaken over multiple days, then a daily rate is charged and this will be detailed in any quote.
2. What are your costs for surveys undertaken abroad?
For all overseas surveys, the survey costs follow the same points outlined above and all expenses such as flights, hotels, car hire or taxi, food etc are always charged at cost. Again, dependent on the yacht in question, a daily rate will be charged and this will be detailed in any quote.
3. What actually is a pre-purchase marine survey?
A pre-purchase marine survey for a yacht is done for the same reason it is done for when you buy a house. It is to know the exact condition of the yacht and the result of the survey will tell you if the yacht is worth buying or whether you should walk away.
4. Are there other levels of marine survey?
Yes, there are various types and these can cover just the hull all the way through to inspecting the entire yacht. An insurance survey is slightly different in that this is a survey of the main items of the yacht as required by your insurance company - on average this is done every three to five years for older yachts. And then there are damage surveys in the event of an accident - again, requested by your insurance company when a claim is made. In addition, there are valuation surveys if your yacht is financed to ensure specific conditions are being adhered to.
5. Are marine surveyors regulated?
At present, there is no legal requirement for a marine surveyor to be regulated. However, there are various self regulating bodies such as the International Institute of Marine Surveyors (IIMS) and the Yacht Designers and Surveyors Association (YDSA) who are professional regulatory bodies and all member surveyors are strongly vetted. This has weeded out many cowboy surveyors and so should you be looking for a surveyor, check these websites out and ensure the surveyor you contract is a member of one of these.
6. Are you insured?
Yes, we are fully insured (professional indemnity / public liability / claim expenses) up to £500,000.
7. When is the fee due?
When the survey is complete, an email outlining the survey and any notable issues will be sent - along with our invoice! Once payment is received we will then send out the report. This way of doing things is generally standard across the industry. Payment is preferred via internet transfer.
8. How quickly will reports be issued?
Our reports are normally issued within three working days or five working days duruing peak times, are in PDF format and emailed to keep costs to a mimimum. However, a hard copy is available for £10 to cover printing, binding and posting costs.