Pros and Cons of Documenting a Vessel: Making the Right Choice

Do you own a boat? Are you considering having your vessel documented? While documenting your vessel can bring many advantages, there are some things to keep in mind. Understand what documenting a vessel means, and learn more about the pros and cons of documenting a vessel before deciding if it’s right for you. At our vessel documentation site, we’ve helped many to not just apply for the right form of documentation but to determine whether or not documentation was right for them. 

Do You Qualify for Vessel Documentation? 

Only certain vessels qualify for documentation in the first place. For example, to even be eligible, your vessel has to measure at least five net tons and be wholly owned by a citizen of the United States. “Five net tons,” of course, is a measurement and volume, not of weight. Keep in mind: if your vessel is at least 25 feet long, it almost assuredly measures five net tons. So long as your vessel meets that standard, it can be documented. 

Why Document a Vessel

When it comes to owning a vessel, documenting it may not be the first thing that comes to mind. However, the benefits of properly documenting a vessel cannot be overstated. Doing so provides proof of ownership and can simplify the buying and selling process. Additionally, documenting a vessel makes it easier to obtain necessary permits, register for boating events and access certain waterways. It also helps to establish the vessel’s history and can assist in locating it in the event that it is lost or stolen. 

Common Misconceptions about Documenting a Vessel

Documenting a vessel can be a daunting task, especially for first-time boat owners. Misconceptions surrounding the process often lead to confusion and ultimately discourage many from documenting their vessels altogether. One common misconception is that it is a tedious and time-consuming process. The truth is, with the proper guidance and resources, documenting a vessel can be a relatively simple task that can be completed in a matter of minutes here at our site.

First Preferred Ship’s Mortgage and More 

Another common misconception is that it is necessary only for large commercial vessels. Documenting your boat can be beneficial, regardless of its size and intended use (provided it meets the size standards). Beyond that, many also document their vessels so that they can qualify for a First Preferred Ship’s Mortgage. With that, you may be able to finance the vessel of your dreams that much easier. 

Documenting a Vessel

After You’ve Weighed the Pros and Cons of Documenting a Vessel 

Documenting a vessel can often seem like a daunting task due to the potential costs, paperwork, and time involved. Although there are some cons when it comes to documenting a vessel, there are many potential benefits, too. Here at our site, you can find everything you’ll need to be able to document your vessel, to be able to maintain that documentation, and so much more. To see how we can help, click here.