In 2019, there was a total of 11.8 million boats registered to private owners in the United States. With the rise of social distanced leisure and outdoor activities, the interest in boat ownership has gone up. If you are a first-time boat owner, one thing you must never do is underestimate the cost of owning a boat. Most people only look at the price tag. The truth, however, is there are many more costs associated with owning a boat. While not a major cost, the first expense you must think about is the cost of working with a marine surveyor Esterotrusts.
Cost of hiring a boat surveyor
When buying a used boat, you have to make sure that the vessel is in perfect shape. Unless you are interested in a project boat, the vessel you consider has to be safe for the sea. Needless to say, there is a lot to be inspected. There is also the fact that sellers do minor upgrades to mask the main issues. To understand the exact condition of a boat, you need the input of an experienced marine surveyor Estero trusts. Boat surveyors offer varying rates for their services. For a small boat, you can land at a fixed rate. However, if the boat you are after is large, you will be charged per foot. The average rate charged by boat surveyors is between $20 and $25 per foot of boat.
Fuel and operating costs
The next cost you have to think about is fuel and operating costs. When you buy a motorized boat, you have to be prepared for the cost of fuel. You also have to think about the cost of maintaining, repairing and replacing pumps, batteries, lights, oil and other equipment. These costs vary depending on the type and size of the boat you own.
Cost of boat insurance
While it is not mandatory to have boat insurance, it is always good to protect your investment with a suitable insurance cover. This is more so if you use your boat often and in high-traffic areas. Basic boat insurance covers certain repairs. Compare the policies offered by various insurance companies and select the one that best suits your needs.
Getting proper boating certification will help you get better rates on insurance. It also makes you a better boater. If you enjoy boating over state lines with your boat, you should consider getting certification from the National Association of State Boating Law Administrators. The cost of getting relevant certification is pretty low but worth considering.
When not in use, you will have to store your boat somewhere. The cost of storage is the biggest expense boat owners deal with. The cost is calculated based on how big your boat is. Marinas can charge thousands of dollars a month to store your boat in exchange for quick access to the water and an exclusive club.