Things to consider

At Yachting Experts we vow to guide you through the process of buying your yacht through every step. We ensure that all of our clients feel confident and secure in their investment with us. Empowering you with our knowledge of the yachting industry is our pride and duty.

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THINGS TOCONSIDER WHEN BUYING…

What size yacht is right for you:

The size you choose should be based on how you plan on using your boat and the amount of passengers you anticipate to carry regularly. Your new yacht will come equipped with a NMMA capacity plate that indicates the amount of passengers that can be safely aboard your vessel. Understand that larger yachts are not only more expensive to buy but also to maintain. Calculate your budget to include expenses beyond your purchase. Consider where you plan to store your yacht and correlating costs.

Should you buy a new or used yacht:

Newer boats are generally going to be safer buys but more expensive. It is wise to begin your search with new boats and identify what you are looking for. Once you have found a boat that satisfies your criteria, you can consider pre-owned versions that might be at a better value, but be sure to act diligently in your research. Having a yacht broker you can trust is essential when buying. Finding the right boat for the right price is a process. Keep your options open until you find the perfect match.

What are other expenses to anticipate:

Consider storage costs for your boat. Marinas provide convenient services but add to expenses significantly. A marina slip is the best option for larger boats and is worth the extra financial investment. Smaller boats offer more flexible options such as self-storage, but consider all prerequisites such as storage space, corresponding permits and transporting costs. Some marinas offer rack storage as a more reasonably priced option.

Do you need a boating license:

While most states do not require a boating license, it is recommended to take additional measures to educate yourself on proper boater safety and operational procedures. Contact your local state organizations, typically the DMV, to inquire about proper licensing.

How do you accomplish an in-depth boat inspection:

A diligent boat inspection is not only important but also often required by banks and insurance agencies. Contact the National Association of Marine Surveyors or the Society of Accredited Marine Surveyors to accrue a licensed professional to inspect your boat thoroughly as well as aid you in evaluating a boats specific features to help you make an educated decision. An investment as significant as this should come without any surprises, so be sure and inspect everything for yourself along with a qualified surveyor.

Can you test drive before you buy:

Most new boat dealers and sellers of brokerage vessels will require that you have reached a verified purchase price before allowing a test drive. Once you have accomplished an in-depth inspection and decided on purchasing, take a test drive accompanied by a qualified marine surveyor to ensure the proper function of your boat.

What to consider when boating with children:

If you plan to host children on your boat be sure to consider that fact when making your selection. Boating is a lifelong family activity that requires extreme diligence from parents and supervising adults. Establish boater safety rules and monitor your children while onboard. Be sure to understand all aspects of boater safety such as maintaining lifejackets on small children at all times, proper swimming techniques, and keeping your hands and feet inside at all times.

What type of insurance should you have:

You should have an ‘All Risk’ policy that covers all causes of loss except those specifically excluded. Most exclusions are effects of gradual deterioration such as scratching, denting, and overall wear and tear. Boaters can receive insurance discounts by completing safety courses that have been approved by the National Association of State Boarding Law Administrators (NASBLA). Contact different insurance providers and find yourself the best policy.

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