Captain Rob Cozen
Marine Survey FAQ (Frequently Asked Questions)

WHAT IS A MARINE SURVEY ?
A critical examination or inspection of a marine vessel for a specific purpose; i.e., insurance, bank financing, pre-purchase damage, etc.

WHAT IS A CONDITION AND VALUATION SURVEY ?
A "CVS" evaluates the condition of a vessel and determines its current value. It assures the owner, the insurance company and financial institution that the vessel meets U. S. Coast Guard and A.B.Y.C. safety standards and that it is insured for enough value to replace it if damaged or lost.

WHAT DOES IT MEAN TO YOU?
As a potential buyer, it assists you in determining whether the vessel is structurally and operationally in safe and seaworthy condition, whether it is in need of serious repair and in calculating it's value for financing and insurance purposes. It can also help you negotiate a more favorable purchase price

WHAT DOES IT MEAN TO THE FINANICIAL INSTITUTION ?
Usually, vessels are financed up to a certain percentage of their value (normally 80%). The remainder is your down payment. The CVS establishes the value of your vessel for the financial institution.

HOW OFTEN IS A SURVEY REQUIRED ?
It depends on the insurance and/or financing company, the value of the vessel, special circumstances such as collisions and other damage and its age. For safety consideration, a survey is recommended every 2-4 years.

HOW MUCH DOES IT COST?
The fee is based on the size of the vessel. This charge covers only the cost of the basic survey. All other services such as; steel-hull ultra-sounding and Spectrometric engine fluid analysis, are available at an additional charge.

HOW LONG DOES IT TAKE ?
The actual survey takes between 3-8 hours depending on size of the vessel and special circumstances. I can normally perform the survey within 48-72 hours of initial contact and can have the finished report ready the next day. FAXED reports to banks and insurance companies are also available.

CAN YOU BE PRESENT AT THE TIME OF THE SURVEY ?
I encourage and welcome all clients to be present and will be happy to explain all proceeding during and after the survey

LET A PROFESSIONAL MARINE SURVEY PROTECT YOUR INVESTMENT

Email us: rcozen@marine-surveyor.com | Main Page | About | FAQ |

Captain Rob Cozen
Master Marine Surveyor
P.O. Box 220
Somers Point, NJ 08244
Office: (609) 926-4949 - Cell: (609) 335-1500
(Outside South Jersey) (800) 64SURVEY - Toll Free!

copyright 1997 - 2000, Captain Rob Cozen, all rights reserved.