May
05

Debunking 4 Common Myths About Owning A Yacht

marine parts salesMore than 87 million U.S. adults participated in recreational boating in 2014. Despite the popularity of recreational boating, there are still many misconceptions about the industry. Here are some common myths about owning a yacht.

  1. Myth: Yachts don’t require a crew.
    While having a crew isn’t an absolute necessity, it’s highly recommended if you want to be able to relax on your trip. A crew has the expertise to provide yacht engineering services if needed and can also coordinate marine parts sales if your yacht is missing or needs a new part. Many times, crew members are more familiar with the surrounding territory and can provide recommendations on the best fishing and boating spots. Their advice can truly be invaluable. Needless to say, a crew allows your trip to be a relaxing vacation instead of a full-time job.
  2. Myth: Chartering your yacht will cover all its expenses.
    Most of the time, chartering your yacht can provide some additional income, but it isn’t enough to fully sustain the costs of operating your yacht. A charter broker can explain everything you need to know about chartering your yacht, but again, it’s very unlikely that chartering will cover all expenses.
  3. Myth: It is always more expensive to insure an American crew as opposed to a crew of a different ethnicity.
    It’s not entirely clear where this myth originated from, but it’s not true at all. Insurance rates are highly dependent on a variety of factors, but crew ethnicity has never been one of them. You can rest assured that your crew will cost the same to insure regardless of their race.
  4. Myth: Yachts are only for the extremely wealthy:
    Again, this is a huge misconception. Anybody who has a passion for boats has the ability to purchase a yacht; you certainly don’t need to be a millionaire. However, there can be significant expenses for maintenance and upkeep, but much of that work can be done without hiring an additional company — it just takes the technical knowledge and expertise.
Feb
02

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