Why the United States Coast Guard Documentation May Help

Documentation required by the U.S. Coast Guard is something that you should be familiar with if you own a boat in the United States. Having United States Coast Guard documentation is a fantastic approach to assist in the protection of both your vessel and yourself. Here are three reasons you may want to consider receiving paperwork from the U.S. Coast Guard for your boat. To begin, it assists in providing evidence of ownership. Second, it indicates the horsepower and tonnage ratings that have been assigned. 

The third benefit is that it grants you the status of a registered vessel with the United States Coast Guard. If you are unsure whether or not you should get paperwork from the USCG, you should get in touch with an expert maritime attorney as soon as possible. They can provide answers to any of your queries and assist you in navigating the process of receiving documentation! United States Coast Guard documentation to boat owners may be beneficial in various ways. Here are some of the reasons why you should seriously consider having your vessel documented by the U.S. Coast Guard:

It Can Help With Tax Advantages

As a second house, a yacht may have been used as collateral for a loan for many years. It’s possible that receiving United States Coast Guard documentation may allow you to claim a tax deduction. If your boat is documented, you can take advantage of many more tax benefits than if it is not established. Once you have USCG Documentation, your taxes will go down like a rock if you know what you’re doing (and we’ll make sure you do). 

The Internal Revenue Service (IRS) classifies recorded boats as tangible personal property. You may deduct the value of your boat from your yearly income since it is an actual individual item that can be depreciated. Based on the age and kind of our vessel, the IRS provides us with a list of percentages for how much we may deduct. This implies that you may remove the value of your vessel’s age and type each year from your taxable income by using the percentage for that year’s deduction.

If Your Boat is Lost or Damaged, the United States Coast Guard Documentation May Help Expedite The Insurance Claim Process

An essential aspect of boat insurance is financial security, which extends beyond only the physical components of your yacht. You are entitled to compensation from your insurance company if your boat is lost or destroyed. Proving that your boat has the United States Coast Guard documentation, such as a card identifying the boat’s type and listing any required safety gear, can speed up the process, according to epa.gov. You may be tempted to think that the U.S. Coast Guard’s paperwork only applies to boats used for commercial reasons, but this isn’t the case. Vessels owned by schools or other organizations and maintained at home but never rented out for profit all fall under this category (though these are still subject to an annual inspection).

The Registration Process is Streamlined and Easy to Complete

A lesser-known but no less significant advantage of United States Coast Guard documentation may be found here. To avoid registering your boat every year, you may cruise out to sea without being designated as a leisure boat. You have the same legal safeguards as commercial fishing; you need a documented vessel. If your boat is still in your name, you may register it with the USCG for free via the simplified approach. 

If you have evidence of ownership, you don’t need to submit any paperwork, but an official form must be completed and sent in. If your vessel is documented, you may be able to get a reduction in your insurance payments. You are not obligated to post a Coast Guard number or name on your boat if you are a private vessel owner (though many choose to do so anyway). A simple “U.S. Coast Guard” will appear on your registration certificate.

United States Coast Guard Documentation

There is a Wide Range of Escort Services Available Through The USCG

The USCG provides a wide range of services to help ships at sea and yachts docked in ports. These experts offer piracy protection, safe navigation, search and rescue operations for stricken or stranded vessels, and technical support for port authorities. However, some restrictions based on the size or construction of your boat may affect the cost. There are even more reasons to have USCG documentation if you own a private vessel that travels long distances or conducts international trade across borders. It’s possible that having documentation from the U.S. Coast Guard will help open doors for you if you ever run into issues with port officials because of your nationality or country of origin. Obtaining USCG documentation for your vessel can be easier if you hire an experienced mariners’ attorney.

You’ve probably heard of the United States Coast Guard, but you may not know that they offer documentation services. Maritime Documentation Center provides various services, including selling certified copies of Coast Guard documentation and issuing official USCG forms. Contact them today at (800)-535-8570 for more.