Your boat needs to be appraised just like any other specialty or custom vehicle you have. With a boat appraisal, you can purchase the best insurance policy, keep yourself from overpricing if you sell, and make sure the boat you want to buy is the right one if you are in the market for one. All of our experienced appraisers are trained to appraise boats, in addition to other types of vehicles.
In Florida, we are out on our boats as many days of the year as we can be since the weather is so nice. Sometimes, it may seem like we’re in our boats as often as often as we are in our cars or houses. You should protect your boat, and an appraisal gives you the documentation needed to do so.
First, you can give an appraisal to many insurance companies to locate the best policy at the right price. The appraisal is documentation of the accurate market value of the boat. It’s not just what the insurance appraiser says. The insurance appraiser is probably not experienced in appraising customized boats and may not have access to the latest in comparable data. You could be undervaluing your boat if an insurance appraiser is the one determining your boat’s market value.
Each of our appraisers uses their expertise and experience to accurately value all types of vehicles. They use their industry knowledge and information from our extensive database of sales to arrive at an accurate appraisal value for your boat.
If a boat has been damaged, it definitely decreases in value. If yours is in an accident that was no your fault, you can submit a diminished value claim with the insurance company of the at-fault party for the difference between the value of the boat before it was damaged and its value after the accident.
Additionally, you can use an appraisal to tell you the market value of your boat if you want to sell it. You can then sell it at a price that is reasonable so that it will sell quickly. If the boat needs any repairs before you put it on the market to increase its value, the appraisal will tell you that as well.
The boat appraiser goes over every inch of the boat, taking high-resolution photographs of the boat’s condition. You’ll learn about problems with the vehicle that you’d need to have repaired, which may be where you can start for price negotiation. Getting a boat appraisal can help you protect your investment in many situations.