Go to West Marine and pick up one of their Fiberglass do it yourself guides. Lot of good info and the fix is easy... the white hard covering over the glass is called gel coat. Want to be careful, you can sand it, but you want to leave as much of it as possible. Thats the water proffing to a large degree. Over time without it the bare glass with tend to separate and become water saturated. I'd just patch any problem areas, blishers deep gouges with the West Marine appoxy and then put a couple coats of bottom paint on it. Check it at least on an annual basis. And DON"T forget to put the zinc on the drive shaft..that critical...
