In this section we provide information on buying a new or pre-owned boat in Cayman, and we also talk about the Cayman Islands' Government boat licensing fees and boat insurance.
If you would like to buy your own boat, here are a few things to consider.
Once you have decided on the type, size and price range, the next thing to decide is whether you want a new or used boat.
You get more boat for your money with a used boat, but you sacrifice the warranty. There are several brokers specialising in used boat sales but they can also help you with the process of buying a new one, whether in Cayman or overseas. A good broker will help you determine what you need in a boat and scour the market with you as your ally, steering you away from potential problems and boats that might be considered poor value.
New vessels may not be trouble-free, but if you purchase from a local dealer, you have the benefit of warranty service on-Island. There are several new boat dealers in Cayman selling a wide range of quality vessels. Pricing is competitive and the sales staff are quite knowledgeable.
The boat dealers in Cayman are experienced and professional and know what will and won’t work out on our waters. We have phenomenally well stocked chandlers, and a wealth of experienced boat mechanics who can repair almost any problem. They also sell new and used boats of all shapes and sizes.
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The Government imposes an annual fee on vessels in Cayman which is collected by the Port Authority.
Boat insurance is not compulsory in Cayman, although your bank will probably require it if you have taken out a loan to finance your dreams and offer you piece of mind.