Anyone considering the purchase of a boat should also consult an affordable insurance broker to find the right coverage for their boating needs. There’s no such thing as a cheap boat, so properly insuring your watercraft can help you pay for a replacement if an accident occurs. All watercraft under 33 feet in length qualify for boat insurance, while vessels 33 feet in length or more need yacht insurance. That means there’s no such thing as sailboat insurance. A sailboat, a pontoon, and a speedboat would all receive coverage under a boat policy.
If you want to insure a boat while you work to repair it, ask your insurance agent about no survey boat insurance. The term refers to boat insurance issued without the insurance agent examining the vessel to determine its waterworthiness. Because a no survey policy could potentially result in more boat insurance claims for the insurance agency, the premiums typically cost a little more.
Ask your agent about add-on coverage to protect specific items on your vessel, such as the radar system or the updated appliances in your galley. It’s advisable to obtain your boat policy before you take possession of the watercraft, since the insurance also protects it while in transit. That means if you’re in an accident while transporting the boat home on a trailer, the boat and the trailer receive insurance protection, while your auto insurance protects against damage to your vehicle.
People who love boats and water sports like waterskiing and fishing may finally decide that they are ready to buy a boat of their own. Like car buyers, the first choice they may have to make is between a new and used boat for sale. Then comes the fun part, looking through online listings and visiting dealers’ marinas to decide which boat is right for you. Buying a boat is not exactly like buying a car, and there are some things to keep in mind, like warranties.
Why buy a boat?
Almost all, or 95% of all people living in the U.S. have a navigable water body nearby, no more than an hour’s drive away. Add to this the human fascination with water and you can see why boating is such a popular sport. Associated water sports like fishing, water skiing, swimming and diving are all popular activities with family and friends. Nearly all, or 95% of all boats sold in the U.S. are smaller in size, with a length of less than 26 feet.
Most people who own boats don’t have luxurious yachts but sailboats, powerboats, or personal watercraft. Pontoon boats have long been regarded as family and party boats, with plenty of room for seating and entertainment. Their stability makes them perfect for family outings, with some waterskiing, fishing, and swimming.
Where to find a boat for sale
With more and more dealers listing their inventories of boats for sale online, you can do a lot of your shopping even before you get to the marina. But visiting the marina and looking at the new and used boats for sale is an essential step. Boats look different in real life than in pictures, especially when it comes to a used boat for sale. With used boats, you may see problems up close that aren’t apparent online.
You can also get lost of useful information about boats, popular models, and new features just by talking to the boat dealers. They can also tell you about the right time to buy a boat and the best deals and prices. Some dealers will also accept trade-ins.
Some things to keep in mind
One of the most important things to keep in mind when buying a boat from a boat dealer is the warranty. Boat warranties work very differently from car warranties, and different manufacturers have very different standards. There are some things to keep in mind when looking at boat warranties:
- Does the warranty cover the boat “stem to stern” and both the hull and engines? How long does the warranty last?
- Will you get a written warranty? Can you examine the written warranty before completing the purchase?
- Is the warranty transferrable to a new owner? That can affect the resale value of the boat.
Buying a boat is a long-held ambition for many people. It may be exactly what you wanted to have a fun and relaxed time on the water with family and friends. Buying a new or used boat for sale is a little different from buying a car. It’s important to keep some things in mind, such as warranties.
