To insure a vessel, a survey is essential. All insurance companies will require a standard marine survey for insurance purposes prior to awarding a policy or for renewal of a policy.
An Insurance survey is an out of water condition survey for insurance purposes in accordance with the general requirements of insurance companies.
It is a less detailed survey than a pre-purchase (full condition) survey. The survey usually includes an out of water inspection to look at the integrity of the underwater body, hull, keel, and stern gear, and will also cover the structural integrity of the rest of the yacht and general safety of the vessel, looking at areas appropriate to the scope of the survey, not focusing on minor defects