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Insurance and Valuation Survey Case Study

Marine Survey Valuation and Insurance Survey

Commercial and Private Vessels

OVERVIEW

MSA complete condition and valuation surveys on commercial and private vessels. They surveys provide invaluable insight into the condition of the vessel but also recommendations for improvements and a market valuation of the present value of the vessel.

THE ISSUE

With the reduced frequency of required domestic commercial vessel surveys implemented by AMSA in 2018 insurance companies are placing more demand on policy holders to obtain condition and valuation surveys on their vessels.

THE SOLUTION

MSA can provide a one stop shop for regulatory, condition and valuation surveys. Where previously vessel owners needed to engage with government for their annual survey and then a private surveyor for the insurance surveys, MSA can now provide both in a single survey. These surveys provide the owner of the vessel with a report detailing the regulatory compliance of the vessel, current condition and an independent current market valuation. These surveys are also highly popular with prospective buyers as they are presented with a factual report of any issues with the vessel that may not be immediately apparent, potentially saving the buyer significant money and heartache.

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