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Old 08-19-2013, 09:39 PM   #1
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Insurance for documented vs not

I am very curious, is there an advantage to being a documented vessel as it relates to insurance vs not. I am in the hunt for a boat and would like to know if its worth the cost to document.

Thanks for the help,

Greg
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Old 08-19-2013, 09:43 PM   #2
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Don't know about that but it's a lot cheaper to renew each year. As in free.
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Old 08-19-2013, 09:49 PM   #3
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My boats have been documented, but I'm not sure that there would be a difference in a state registered boat and a documented boat for insurance. It could very well be important for financing because it would have a chain of title. It could be liened against

We have a couple of insurance pros on the site. They can tell you for sure..
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Old 08-19-2013, 09:51 PM   #4
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(Greg- Sent a PM with info)
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Old 08-19-2013, 10:15 PM   #5
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I dont believe so - you can check with my insurance broker who works alot with trawler owners all over the country.

I have had great luck with his prices, coverage, professionalisim and knowledge.

/www.caseyinsurancegroup.com/
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Old 08-19-2013, 10:27 PM   #6
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Thanks for the replys, I understand that Pau Hanau sp? may be the best person to help me with this. PG free is a great price.

Calm seas,

Greg
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Old 08-19-2013, 10:39 PM   #7
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Hola Greg,

There's no difference with regards to insurance when it comes to documented vs state titled private pleasure vessels. On the financing side, however, there is a substantial difference- having a preferred ships mortgage (documented vessel) gives the lienholder certain rights if the borrower defaults.
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Old 08-19-2013, 10:50 PM   #8
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Thanks for the quick replies, The boat I am interested in is not documented, I will look into what is required to document.
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Old 08-20-2013, 12:00 AM   #9
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Very easy to document. Just go to the USCG site.
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Old 08-20-2013, 12:36 AM   #10
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Document your boat and the whole world will learn of your address.

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Old 08-20-2013, 06:29 AM   #11
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A documented boat is easiest to travel to other countries with , and gives certain protections to the owner.

Easier to sell also as leins registered against the documented vessel are USCG public record and easy and free to locate .

Documentation is FREE and the only hassle is its slow .
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Old 08-20-2013, 07:24 AM   #12
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A documented boat is easiest to travel to other countries with , and gives certain protections to the owner.

Documentation is FREE and the only hassle is its slow .
Be careful with the "easiest to travel to other countries statement". Canada and the Bahamas might let you enter with a registered boat. Not sure whether this is the law or just courtesy. State registration is not authorized for international travel and other countries will deny you entry. Documentation is the internationally accepted form for US boats.

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Old 08-20-2013, 07:55 AM   #13
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There are some filing fees for documentation the first time...renewal /small changes are free.

Initial fee is $133, then bits and pieces depending what other documents you need or request...usually doesn't run over $200 total.
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Old 08-21-2013, 10:45 AM   #14
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Is there a legal requirement to document a boat, size requirements.

Any reason that you would be in trouble if you did not document or withdrew your doumentation?

I understand the best reason to document a boat if you are not going to register it to a state as it allows banks to be more willing to lend money for purchase. But in Florida I can apply for a title and I am already state registered.

I am documented but just wonder if I have a state title and registration would that be good enough/better?
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Old 08-21-2013, 10:58 AM   #15
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The bank required the Eagle to be documented, and its registered with the state. We paid off the loan but I left it documented. Insurance companies do not care as long as they have the year, brand name, engine number and hull number listed.
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Old 08-21-2013, 12:10 PM   #16
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The bank required the Eagle to be documented, and its registered with the state. We paid off the loan but I left it documented. Insurance companies do not care as long as they have the year, brand name, engine number and hull number listed.
Do you have a title issued by the state? In Fl. I can get a title issued to me if I want, I wonder if banks bank would be ok with a state title? Curious really.
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Old 08-21-2013, 12:18 PM   #17
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Do you have a title issued by the state? In Fl. I can get a title issued to me if I want, I wonder if banks bank would be ok with a state title? Curious really.
Washington State requires either documentation or titling, but not both. If the vessel is documented, it must also be registered with the state.

Banks familiar with marine documentation prefer or require documentation vice being named on a state issued title- smaller banks and credit unions generally don't care either way.
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Old 08-21-2013, 05:08 PM   #18
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If Documented, it can not have a state title issued.
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Old 08-21-2013, 05:16 PM   #19
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If Documented, it can not have a state title issued.
You know that, the USCG demands that, I know that, the state even knows that...but NJ still sent me a title after they said they wouldn't...and I called them on it and they did nothing.

Go figure...but yes I remember the USCG sending notification that no state titles were supposed to happen as of several years ago.
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Old 08-21-2013, 06:32 PM   #20
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If Documented, it can not have a state title issued.
Thats not correct I have attached a BoatUS web page that lists each state and its sales tax, 90 day rule and decal requirements for Documented vessels.

/www.boatus.com/gov/states/default.asp
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