Boat Appraisal Services

A boat appraisal is a professional, independent determination of a vessel’s fair market value. The appraisal report documents the boat’s condition, specifications, equipment, and current market data to establish an accurate, defensible value.

Boat appraisals are commonly used for insurance coverage, financing, estate settlement, resale, and legal matters.

You may need a marine appraisal if you are:

-Applying for agreed value boat insurance
-Filing an insurance claim after damage or total loss
-Buying or selling a boat
-Settling an estate or divorce
-Refinancing a marine loan
-Donating a vessel for tax purposes

A documented valuation protects you from underinsurance or undervaluation.

Boat appraisal services typically include:

-Fishing boats
-Ski and wake boats
-Pontoon boats
-Sailboats
-Yachts
-Personal watercraft (PWC)
-Houseboats
-Commercial vessels
-Custom-built boats

If it has a hull identification number (HIN) and measurable market value, it can generally be appraised.

A certified marine appraiser evaluates:

-Make, model, and year
-Hull condition and structural integrity
-Engine hours and mechanical condition
-Electronics and onboard equipment
-Upgrades and modifications
-Maintenance records
-Comparable sales data
-Regional boating market trends

For high-end vessels, national and international market data may also be reviewed.

Agreed value insurance is a marine policy where the insurer agrees in advance on the vessel’s insured value. In the event of a total loss, the agreed amount is paid without depreciation.

An independent boat appraisal provides the documentation required to support that agreed value.

In many cases, yes – depending on the purpose of the appraisal. For insurance or valuation-only reports, inspection may be conducted dockside. However, for full condition surveys or structural assessments, a haul-out may be recommended.

The scope of the appraisal determines inspection requirements.

Helpful documentation includes:

-Title or registration
-Hull Identification Number (HIN)
-Engine serial numbers
-Maintenance records
-Upgrade receipts
-Previous surveys or appraisals
-Insurance policy details (if applicable)

Providing records ensures the most accurate valuation.

Yes. Even older or non-running boats may have market value, especially if:

-They are desirable models
-They have valuable trailers
-They include upgraded engines
-They are collectible or limited-production vessels

Never assume minimal value without documentation.

Consider updating your appraisal:

-Every 3–5 years
-After major upgrades
-After repowering or engine replacement
-When market values fluctuate
-When changing insurance carriers

Boating markets can shift significantly over time.