Many people love to collect classic boats and vessels. However, lovers of old vessel collectors perfectly know the fact that water and rot can wreak havoc on an old hull. They also are aware of the fact that the best insurance coverage can definitely save their interests to a great extent. So when it's time to buy Classic Boat, do not forget to enquire about insurance schemes and policies that can protect your interests largely.
Following tips represent a comprehensive Marine Survey that the insurance companies will accept to underwrite insurance on your boat.
It is important to obtain a full out-of-water and condition survey. It will help to understand the current market and replacement values for the boat, as well as detailed descriptions of the construction and condition of the hull as well as the boat's major systems (fuel, electrical and engine/drivetrain).
The survey should reveal the fact that the surveyor inspected the boat for compliance with The American Boat and Yacht Council (AYBC), the National Fire Protection Association (NFPA) and Coast Guard standards.
Monday, February 1, 2010
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