You may be surprised to learn that having your boat or personal watercraft appraised is just as important as any other vehicle. Probably more so, considering that towing, storing and maintaining it is so much more critical than an automobile.
Making the decision to invest in a boat requires careful consideration before you buy. It is not like a car that gets uses every day.
If you are considering a joint ownership, establishing the value of the boat or watercraft will be key in resolving any disagreements in the future.
A yacht can be a serious investment. In the event of damage or loss, your asset needs to be insured with full comprehensive replacement value insurance. Replacement value insurance starts with a detailed, professional appraisal report that fully documents your investment and lists the actual replacement value, not the fair market value.
If you, your bank or your insurance company can't look in a book and find out exactly what your boat or watercraft is worth, then you need to have it professionally appraised by Auto Appraisal Network of Kansas City.
Antique and Classic boat restorations are no different than cars. The reality is that the cost of restoration would be difficult or impossible to recover if not properly documented and insured. Replacement cost of an Antique or Classic boat is no where near the fair market value. For this reason, an insurance appraisal takes into account the time and cost of materials to replicate the insured vessel.