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There are several reasons why it is wise to conduct an objective valuation of your vessel. On the basis of the outcome of an official valuation, you will know the exact value of the ship. In certain cases valuation is even required. For example, in case of insurance or financing, the bank or insurance company will want to know the value of the ship in advance. Boot-Check is EMCI certified in conducting valuations. Boot-Check can guarantee you will receive an accurate report.
Why conduct a valuation?
There are several reasons why you would want to know the value of a vessel. Maybe you're interested in a boat and want to be sure you're not paying for the owner's the emotional value, but only for the value of the actual vessel itself. Or if you change insurance providers, the new insurance provider may request a valuation of your boat.
Boat valuation for insurance (7:960 Dutch Civil Code)
If you ever need to call upon your ship's insurance, it is nice to know everything is already properly organised. Naturally, a good insurance is an important precondition. However, it is important to realise you largely determine the 'effectiveness' of the insurance. If you need to call upon your insurance and do not have a valuation report, then the insurance provider will determine your vessel's current value. This may be financially unfavourable. Especially if you've always had the idea of having been well insured, but your insurer has different ideas (because of the absence of a valuation by an expert). At Boot-Check we can conduct a insurance-valid valuation of your vessel. When taking out an insurance for your boat, always research all the details. Ask your insurance company what their demands are and what you can expect from them in return. A good insurer will almost always accept a valuation. The valuations at Boot-Check are insurance-valid, but always first ask your insurer about the demands they place on valuations.
Valuating your vessel for the benefit of financing
If you wish to take out a loan for your vessel, the lender will always want to know what he is financing exactly. Lenders will therefore request a valuation report that includes a description of the vessel, consisting of an overview of any details regarding existing equipment, the state of the vessel and any (overdue) maintenance, and so on. A valuation report will always include both a current value an execution value. Boot-Check is EMCI certified in conducting valuations, making our valuations compatible with almost any lenders.
Want to become part-owner of a ship or sell your share? If so, it is important to know the exact value of the vessel. An independent and professional valuation is thus important. Boot-Check will gladly provide you with a professional and transparent valuation report, giving you a clear indication of the value of your ship.
If you're married under the condition of a communal estate settlement, your vessel must also be 'split up' after a divorce. This often means that the boat will be sold as a whole or that one party 'buys out' the other party. Whether you're selling the vessel or buying out your ex-partner, it is always difficult to determine the value of your ship by yourself. After all, you must take into account many aspects when determining a fair value. Boot-Check provides professional, expert, and independent valuations, giving you a clear indication of the value of your ship.