Do you know the real cost of owning your own boat? - ACS Personal Insurance

Do you know the real cost of owning your own boat?

Owning a boat can be an incredibly fun experience. But before you get started, make sure you know what the real costs are of being out on the water year after year, as expenses can continue to add up over time.


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This is your biggest outlay, often made with some sort of a loan. Consider any extra fees and interest that may come from your lender.


One of the biggest outlays in owning a boat will be your trailer - a necessity for transporting your boat to and from your favourite water spot. Be sure to include this cost in your initial budgeting.


A little DIY can go a long way. Doing simple things like washing down the hull with fresh water after an outing and keeping your boat covered all help in minimising costly maintenance further down the track. Just like a car, servicing your boat engine every 100 hours or once a year will keep your boat in full working condition. Having a safe and reliable boat when you’re out on the water is a must.

Fuel consumption

Fuel costs on a boat can depend upon the type of watercraft you’re using. A yacht, for example, will use less fuel than a boat used for water sports. Check the fuel consumption of the engine on the boat to assist when doing your costings.

Storage or mooring

If your boat is small enough, storage can be as simple as putting on a cover and parking it in a driveway, backyard or shed. If not, mooring your boat can be an additional cost that really adds up over the years. Mooring your boat also leads to more costly maintenance in the future as the hull remains submerged most of the time.

Accessories and safety gear

Consider too the costs of safety gear, a tool kit, spare tires for your trailer and a cover for the boat itself. Depending on how you intend to use your boat, you might also want to buy water sports equipment or fishing gear.

Insurance, registration and licensing

Registration and licensing fees are governed by boat length and administered state-by-state. Insurance on your boat will ensure that you’re protected in the event of the unexpected when you’re out on the water. If you would like a quote on boat insurance, you can get one quickly and easily online here. 

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