The question most boat owners and buyers ask is this, how much does it cost to put a boat in survey? There is no definitive answer to this question. This is mainly because so many factors come into play. However, from a professional’s perspective, the cost of the survey is more about value, comfort and safety than it is about money spent. What monetary value can you place on learning every detail about a boat you’re considering buying or the current boat you own?
All, you, your family, your crew, and the other passengers on your boat need and want is to feel safe and protected. By placing an experienced pair of eyes on the independent boat, a Washington D.C. marine survey fills that demand. Even if you are an experienced, seasoned mariner a marine survey is always valuable and typically required by lenders, insurance companies, and some marinas. But how much does it roughly cost?
The cost of a marine survey varies depending on a number of things. For one, surveyors charge different rates for their services. In most cases, the more experienced surveyors tend to ask for more than the beginners who are simply trying to build their portfolio.
The extend of survey needed will also have a part to play. A boat that has numerous onboard systems will take a surveyor more time inspecting all the systems. How sophisticated the systems are will also impact the average cost of the survey. This is because sophisticated systems require a more focused approach during surveys.
Another thing that impacts the cost of a survey is the type of survey you need. Some types of surveys are more detailed. This means they take longer to complete than others. For example, a pre-purchase condition and valuation survey is more involving than an insurance condition and valuation survey. You can, thus expect to spend more on a pre-purchase survey.
Here is the average cost of different types of surveys:
- Pre-purchase condition and valuation survey: $28 to $35 per foot.
- Insurance condition and valuation survey: $24 to $28 per foot.
- Marine appraisals: The base price is about $300 plus an agreed hourly rate that varies depending on the type of boat.
- Expert witness fees: Full day $1,200 and a half day $600.
- Corrosion testing: Base price $250 plus hourly rate depending on the boat and its condition.
- Consulting: Minimum is one hour at a rate of $150. After the first hour, billing is done at a ¼ hour increment.
Hopefully we have answered the question of how much does it cost to put a boat in survey. The rule of thumb is to always find a reputable surveyor to offer the services you need.