Numerous methodologies for estimating the reliability of composites have been published in the past few decades. This paper presents the experiences and findings by the authors regarding an assessment of different mechanical and probabilistic models for the calculation of reliability estimates of fibre-reinforced plastic laminates. The assessment was performed to determine the manner by which the models influence the reliability estimations. This knowledge is used to determine the most suitable combination of models for reliability-based design optimization of marine structures made out of fibre-reinforced plastics. The assessment consists of a brief overview of a number of probabilistic and mechanical models as well as the computation of reliability estimates for a number of fibre-reinforced laminates through Monte Carlo simulations. Among some of the findings, it was found that the definition of matrix cracking and the choice of mechanical model (description of damage initiation and development) influence significantly the reliability estimations of fibre-reinforced plastic laminates.