Global Marine Insurance: Reasons to Use a Yacht Broker

Sep 4, 2012 | Blog Post | 0 comments

Whether buying or selling a yacht, there is typically a large amount of money involved, with transactions potentially in the millions of dollars. Trying to sell your yacht without the aid of a professional broker is like going into court without an attorney. Unless you have a significant amount of time to dedicate and the experience necessary you should consider hiring a professional.

One benefit of working with a yacht broker is that they will be familiar with boat insurance rates and the type of onboard features that can drive them down. If you are buying a vessel this advice will be invaluable in terms of running costs, because a broker will also point out any ‘red flag’ features that could be expensive. Of course you will want to work closely with a specialized boat insurance company that can provide you boat insurance quotes on different yachts you are considering.

Yacht brokers are also familiar with the local and wider yachting world and current trends and have contacts and access to information that will assist both prospective purchasers and sellers. A yacht broker can also help a buyer with information including the best local business for carrying out repairs and maintenance, as well as inspection services and dockage. These insider tips can be very useful if you are new to the area or unfamiliar with yacht services.

If you are selling, a broker will also supply you with all the latest information regarding competing yachts, including terms and conditions and financing, throughout the selling process, so that you can make adjustments wherever needed to give yourself an edge over the competition. They will help you buy or sell by advising on every proposal without the worry of compromising your position in the market. Brokers can also be invaluable in negotiations, experienced in getting best deal for the customer based on inside knowledge and backed up by experience.

Secure a good yacht broker and the process of selling or buying a yacht becomes a great deal easier. Often, you will get a deal that fully justifies the expense of employing a professional broker. That being said as with any profession the quality of the service is only as high as the caliber of the professional. When hiring a yacht broker make sure to interview several applicants and check references. If you are interested in a boat insurance quote for a yacht you are considering please feel free to call 1-800-748-0224 to receive assistance from a boat insurance customer service representative or click here for a boat insurance quote online today.

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