The boat you take on the water should be appraised just like any other specialty or customer vehicle you have. We can provide you with a boat appraisal so you can get the right insurance policy, set the price of your boat if you want to sell correctly, and make sure that boat you want is the right one if you are looking to buy. Each of our experienced appraisers knows how to properly appraise boats in addition to several other types of vehicles.
You’re probably out on your boat as many days of the year as you can when the weather is right. You might feel like you’re out on the water during the summer as often as you’re at home or in your car. Your boat needs protection because it’s an important investment and a significant part of your life. An appraisal provides the documentation you need to do it right.
First, you can give an appraisal to various insurance companies to find the best policy at the right price. It is an independent verification of the market value of the boat. With an appraisal, you can avoid having an insurance appraiser incorrectly value the boat, especially if they don’t have experience appraising customized boats or access to the latest in comparable data. It’s possible that an insurance appraiser may undervalue your boat considerably.
All of our appraisers have extensive experience working with various types of vehicles. They utilize their industry knowledge, appraisal training, and information from our extensive database of comparable sales to come to an accurate appraisal value for your boat.
If your boat has been damaged, the value goes down. However, if it was involved in an accident that was not your fault, you can submit a diminished value claim to the insurance company of the at-fault party for the difference between the value of the boat before and after the accident.
Additionally, you can use an appraisal to tell you the market value of your boat if you decide you want to sell. This allows you to sell at the best price that will bring in buyers quickly. Should the boat require any repairs before you put it on the market, the appraisal will give you the detailed information you need to get them done right.
A great boat appraisal involves the appraiser going over every inch of the boat, taking high-resolution photographs, and making detailed notes about its condition. If you’re buying a boat, you may even learn of some points to put out there for negotiating the price. In many situations, a boat appraisal can go a long way to protect your investment.