Much like an individual has their home assessed for value during the insurance application; those who own watercraft also undergo a similar process when an insurer is evaluating the potential risks of the account. A marine surveyor holds a lot of weight in the shipbuilding industry because certain certificates and payouts for damage to cargo or vessels are only made after a surveyor provides input.
The Condition of a Vessel
Whether it is a new build or repairs are being made, it is the job of a surveyor to assess the structures, equipment, machinery, and general conditions of the vessel or cargo to ensure compliance with industry safety standards. This assessment could include an overall judgment on the materials used and their condition. In the event of an accident, the marine surveyor is brought out to evaluate the damage and conduct an investigation for the insurance agency.
Marine surveyors are extremely qualified to evaluate both small and large vessels, and insurers respect what a surveyor may find. The insurance agents do not have the experience or knowledge to perform a detailed inspection of a watercraft, and this inexperience could leave gaps in the coverage or take on too much risk for the company. Marine surveying is an important part of accident investigations, as the judgment, integrity, and competence of the surveyor can help eliminate problems with insurance fraud.