Toronto Marine surveyors provides marine surveys for all types and sizes of vessels including motor boats, trawlers, sail boats, personal water craft, fishing vessels, pontoon boats, work boats… if it is supposed to float or floats we will survey it! Our team has over 15 years of experience in marine surveys, marine engineering & design, boat manufacturing, and is ABYC certified.
Based in the GTA, Toronto Marine Surveyors serves central Ontario as far north as the Muskoka’s, East to Ottawa, and West to Sarnia. We will travel to the USA as required.
Pre Purchase Survey
Buying a boat is one of the biggest investment choices that you are going to make with your hard earned money. It is to the buyers benefit to protect your investment and your safety with a pre purchase survey.
A pre purchase Survey is conducted when someone is contemplating buying a vessel. It is a very comprehensive inspection that includes operational testing of all systems and equipment, in many cases a pre purchase survey will also include a sea trial. The vessel is typically inspected both in and out of the water. The overall goal of the pre purchase survey is to provide the potential buyers with the information that they need to make an informed purchase decision.
During a pre purchase survey it is our goal to inspect the entire vessel and determine the mechanical, electrical, and structural condition of the vessel. A properly completed pre purchase survey can save the prospective buyer thousands of dollars in unforeseen repairs, and or keep the buyer from purchasing a ‘lemon’.
Most insurance companies require a recent survey on a vessel before they will bind insurance coverage. This requirement is to both determine the current condition of the vessel and to determine the equipment list on the vessel.
An Insurance Survey is done specifically for insurance purposes at the request of the insurance company. An insurance survey may be done with the vessel either afloat or ashore, depending on the insurance carrier’s requirements, an insurance survey generally does not require a sea trial or operational testing of all equipment and systems. Every insurance company has their own guidelines as to what age/size vessel needs a survey, how often a survey must be accomplished, and what the survey report should include.
A properly completed insurance survey will paint a picture of the condition and current ‘risk’ of the vessel to the insurance company while also providing the owner a basis or guideline in overall condition and content for making any future claims.
Condition & Valuation Survey
Applying for financing on your vessel? Your finance company will most likely require a valuation survey to assure they money they are lending a reasonable amount for the boat being purchased. Valuation & Appraisal surveys are completed for application to financing companies, estate and divorce requirements, IRS requirements, CRA requirements, and possibly for donation of vessels to charities.
A properly completed valuation survey is basically a pre purchase survey that goes one step further by looking into the market value of the boat and the cost of any repairs that are required to be done. With this data a market valuation is made for the prospective buyer and financer.
Other Types of Marine Surveys
- Purchase evaluation, let us help you pick the right boat!
- Damage assessments
- Estate requirements
- Insurance damage estimate disputes
- Salt Water / Fresh Water transition