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Last Updated on August 23, 2024 by Paul Clayton
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How Much Does a Boat Survey Cost?
The cost of a boat survey is a crucial consideration for individuals planning to buy a boat or maintain the one they already own. It is essential to understand that the cost is necessary to ensure your boat’s safety, legality, and overall value.
- Boat survey cost varies with size, age, and type.
- Range: $20 to $25 per foot for smaller vessels.
- Larger boats (40 feet or above): $30 to $35 per foot.
- Location and travel affect survey costs.
- The depth of the survey impacts the overall price.
- Choose an accredited, experienced surveyor.
Buying a boat requires proper investigation to know if your pay is worth it. So, even if you know all about boats, it’s a great idea to take professional services for a more reliable deal.
In my opinion, a boat survey is critical and equally important if you want to avoid any mishaps in the future.
Because boat surveys are optional and there are no binding laws, boat enthusiasts often ignore this process. Some would regret their decision because there is always a risk of problems such as shorts in boats, unforeseen maintenance, etc.
In the case of financing and insurance, a survey is a must. If you have heard of pre-purchase, it’s boat insurance.
So, even though it’s not obligatory, it’s always better to survey your boat to get the best deal. If you don’t know what goes into a boat survey, this article will help you.
Let’s find out how much a boat survey costs.
Who’s In It?
When buying a boat, more than just two parties are involved. For instance, the surveyor, the broker, the seller, and then there’s you, the buyer. From the buyer and the broker’s perspective, they want the deal to go smoothly.
Often, brokers refer clients to the surveyor. The seller may also seek the same surveyor for their next purchase. If the broker is reluctant to go to any other surveyor, there are chances of a conflict.
However, regulatory bodies monitor and recommend such practices, so you shouldn’t worry much.
The Process Flow of a Survey Job
The survey process is well-defined whether it’s a yacht, ship, or fishing boat. Therefore, the surveyor doesn’t have to do more than follow the instructions. Generally, boats come with a worklist.
When the surveyor does their job, they will prepare a report about the findings. So, when you’re there during the inspection, you mustn’t exaggerate a problem because of two reasons:
- It will not have a significant effect on the price
- The same report goes to the insurance company, so you may receive a list of pricy work jobs before getting the policy for your boat.
What Should a Buyer Do?
As a buyer, it’s always better to be there throughout a boat survey. I don’t believe in relying on third parties and getting someone else to handle things on your behalf.
So, you must show up every time. When you know everything personally, there are fewer chances of deception.
Unless laws require you to be a professional buyer, you are best suited for your boat’s purchase.
While doing the mechanical parts surveys, ask your surveyor to examine the conditions through questions first. If the situation isn’t right, you won’t need to pay for their checking, and you can skip on to the next task.
How Much Does a Boat Survey Cost?
Boat surveys may seem like a one-time job where you ask the surveyor to visit, prepare a report, receive their dues, and leave. However, there are several other variables to address.
It’s one of the reasons why new buyers often hesitate to survey a boat. Nevertheless, it’s pretty simple, and I will explain why.
Primary Cost
The primary parameter for a boat survey is the boat’s length. The average price for a survey is around $18 to $25 per foot.
Some well-known surveyors may charge even more, but I suggest you prepare a budget within the limit I mentioned for an average survey. Moreover, some bigger boats may prove costly.
Some of the other factors that affect the survey price are:
- Age of the vessel
- Vessel material
- Additional setups and systems on the boat
- Geographical location
Additional Cost
It also depends on where you want to survey the boat. For instance, if the ship is in water and you want to watch it on the ground, hauling your boat will cost you an additional $20 per foot.
Also, a small fishing boat or a pontoon boat with relatively low power is much cheaper than a sophisticated cruise or yacht. It’s because of the advanced engines that need careful inspection.
So, if you are dealing with a relatively advanced engine, it can cost you an additional $300 to $600. However, engine inspection is necessary if you buy a high-power boat.
Signs of a Good Surveyor
If you’re getting your boat survey for the first time, knowing what your boat surveyor should do during the inspection is essential. For instance, your surveyor should inspect the boat on the ground. This way, he can survey the underwater gear and the hull.
Moreover, the survey should follow top to bottom format. Usually, the deck and hull may have rotten spots that can be identified using a hammer.
Secondly, the electrical systems are the most critical of the elements. The surveyor should at least carry a multimeter to verify the working of these systems.
After that, the plumbing, fuel systems, controls, steering, and safety equipment checks must be performed.
Reporting the Findings
The U.S. Coast Guard regulates the report formats and the details found during a boat survey. So, the surveyor should enter all the details as per the format. Also, the NFPA and American Boat & Yacht Council monitor these regulations.
If your surveyor is good, they will mention the potential problems in the report. It’s useful when applying for insurance.
In any case, the surveyor doesn’t recommend or stop you from buying a boat. Their sole job is to survey and give you the findings to help you make a better decision.
How Long Does a Boat Survey Take?
The duration of a boat survey largely depends on the survey’s nature and the vessel’s size. If the survey is essential and the vessel is small, the process might be completed within two hours.
However, a comprehensive survey on a larger boat could take an entire day. The intricacy of the boat’s design and the detail required in the report also play significant roles in determining how long a boat survey takes.
It’s essential to remember that a thorough survey is vital to ensure the seaworthiness and safety of the vessel.
How Long Is a Boat Survey Valid?
The validity of a boat survey is a crucial aspect for boat owners. Generally, a boat survey is valid for 5 to 7 years.
This duration, however, can vary based on the policies of your specific insurance company. Therefore, boat owners must verify this detail with their insurance providers.
If you’re uncertain how long your boat survey is valid, contacting your insurer for clarification is highly recommended.
This will help you comply with the insurance requirements and ensure your vessel remains covered under the policy.
Are Boat Surveys Worth It?
Absolutely! Mainly when a used boat is under consideration. A boat survey is an in-depth inspection of a vessel to determine its current condition and seaworthiness.
It provides valuable insight into the boat’s structure, systems, and equipment, aiding potential buyers in making an informed decision.
The process may identify potential issues that could necessitate expensive repairs in the future, thus justifying the initial survey cost.
Despite being an added expense, the peace of mind that results from knowing precisely what you’re investing in can make a boat survey a worthwhile expenditure.
Wrapping Up
The cost of a boat survey can significantly impact the overall boat ownership or purchase budget. Understanding “How Much Does a Boat Survey Cost” can help potential and current boat owners make informed financial decisions.
The cost typically depends on many factors, including the boat’s size, age, and type. For smaller vessels, the price range is typically between $20 to $25 per foot.
However, for larger boats, specifically those measuring 40 feet or above, the cost can increase from $30 to $35 per foot. The location of the boat and the travel required for the surveyor can also influence the survey costs.
Furthermore, the depth of the survey, which refers to how comprehensive the inspection is, can significantly impact the overall price of the boat survey.
Therefore, one must consider these variables and ensure that an accredited and experienced surveyor is chosen to guarantee accurate and reliable results.
In any case, I suggest new buyers get their boats surveyed because it saves them from plenty of financial problems in the future.
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