When you are in the process of buying a boat, you are likely to find that the dealer will ask you if you would like to document your vessel with the US Coast Guard. This is one way to provide yourself with protection while in US waters, but you may be torn between choosing to register with the state, and with the national Coast guard. There are several reasons why you can benefit from including your boat on the USCG documented vessel list, and why it might be important for you to consider this option before you commit to buying a boat in the US. Maritime Documentation Center can help you to understand the importance of US vessel documentation.
Your Choices for Registration
When you are the new owner of a boat, you may have two choices about registration. You can opt to register with a single state, most typically the one where the vessel will be docked. As an alternative, you may choose to document the boat through the USCG, which can give you more benefits and allow you to be more secure when you are traveling outside of US waters. When you register nationally, you obtain a US standard for your boat and proof of its origins, which state registration does not usually provide. You can also travel completely unhindered in US waters, which can be extremely useful for commercial vessels. When you register with the USCG, you will be able to get protection and legal rights that your standard state registration will not be able to provide.
Securing Your Vessel
Another reason why you may want to consider documenting the vessel with the USCG rather than with your state is in order to obtain financial loans and mortgages for the boat. A particular type of financial arrangement, known as a preferred ship mortgage, allows you to borrow money to buy the vessel only if it is registered with the Coast Guard. You may benefit from taking out documentation because you will get a better type of loan, and your lenders will feel reassured that the mortgage is a safer investment. This can benefit you by lowering the interest rate for the loan, or even allow you to take out more than you would be allowed purely through standard securities.
Find Out More About the List
If you are considering adding the name of your boat to the USCG documented vessel list, then you should reach out to Maritime Documentation Center today and talk to our team. We can help you to fill in the paperwork that you need to obtain a certificate of documentation, as well as obtaining other forms for a mortgage, for renewal of a lapsed documentation on a second-hand vessel, and many other applications to the USCG. Our teams are waiting to help you, so reach out to us today through our online contact form or call the team at (800) 535-8570 to ask us questions now.