The boat that you love to take out on the water in your free time is a huge investment, and it should be appraised. With a boat appraisal, you can get great insurance coverage, sell it at the right price, and know if you’re buying a great boat if you’re looking to purchase. Our experienced appraisers don’t only help with cars; they are trained to appraise a variety of vehicles, including boats.
Whenever the weather is nice and you have a free moment, you are likely in your boat on the lake or in the sea. You might feel like you’re on your boat as much as you’re in the house during the summer. Your boat should be protected so that you can continue to enjoy it on all the beautiful days, and an appraisal helps you do just that.
When you get an appraisal, you can submit it to various insurance companies. This helps you find the right coverage for the best price. You will know the true market value, and you can trust that you’re not letting an insurance appraiser value it at much less than what it is actually worth. Often, insurance appraisers don’t know much about customizations or may not have access to the latest comparable sales, unlike our independent appraisers.
Should your boat be damaged, and it wasn’t your fault, you can add the cost of an appraisal to a diminished value claim to the insurance company of the at-fault party. The diminished value is the difference between what your boat was worth before the incident occurred and what it is worth after the damage happened.
If you want to put your boat on the market, getting an appraisal can tell you what you can reasonably sell it for. Additionally, it can uncover problems with the boat that you should get repaired before you sell it or to take into consideration on your pricing so that you don’t inadvertently turn away buyers.
What if you want to buy a boat? You can rely on an appraiser to go over every inch of your potential purchase carefully and to make sure that it is the right boat for you. You can use any major issues the appraiser finds as possible price negotiation points. You’ll also know if the boat is the right one for you if the appraiser finds little wrong with it and agrees that it’s being sold at the right price.
A boat appraisal can go a long way to safeguarding your investment in many situations.