Top Economics Of Boat Secure Insurance

Top Economics Of Boat Secure Insurance 

You’re giving in to the lure of the water. You’ve decided it’s time to buy a boat. You’ve even started pricing the models that appeal to you. But a nagging voice in the back of your mind – or maybe even a real voice from a family member or friend – is warning you to think carefully about the economics of boat ownership. We’ve all heard the jokes and clever remarks, such as “A hole in the water …” In truth, the dollars and cents of owning a boat aren’t really all that different from owning a truck or recreational vehicle. Considerations include the purchase price, of course, and the cost of financing, plus a number of predictable ongoing requirements. We encourage our customers to recognize they are truly buying a lifestyle, not just a boat. What the boat will allow you to do on an emotional level should help you to justify the decision. Of course, there are some differences, depending on the size of the boat. This article will focus on the smaller boats, under 25 feet long. I’ll address the special considerations involved in owning a larger yacht in a future article. The important needs for most boats are:

1. Accessories and optional equipment
2. Fuel Maintenance and repairs Storage
3. Launching ramp fees
4. Insurance State registration fees

Now three years old and with thousands of boats listed across the U.S., Boatbound’s average renter is between 25 and 44 years old with five or more years of boating experience. “Boatbound is fundamentally changing boating,” said Boatbound Founder Aaron Hall. “Finding a boat is now as easy as finding a hotel, and boat owners can share their boat when it’s not in use to offset boat, slip, and maintenance costs turning their boats into assets.” With the new peer-to-peer boat rental policy, BoatUS stated it offers a seamless experience to renters and confidence to owners for rentals arranged through Boatbound. “It’s time,” added Holownia. “If you’ve been on the fence about renting your boat renting your boat, you can feel secure knowing you are backed by BoatUS.” Boat owners wishing to rent their boat through Boatbound must have an underlying recreational boat insurance policy.

Those with BoatUS or Seaworthy Insurance Company policies will be eligible for a fast-track approval process. Once the boat owner signs up at Boatbound.co and gets approved, the peer-to-peer boat rental policy provides primary coverage during each rental period.


The policy includes $300,000 liability coverage per person and up to $1 million total liability coverage per accident. Up to $854,400 in fuel spill coverage is also included as are $25,000 per person/per accident medical payments coverage, $100,000 in Uninsured boater coverage, and full salvage coverage up to the boat’s actual cash value. Deductibles are based on boat value.

The cost of the policy is included in the fee owners pay Boatbound for each rental. The peer-to-peer boat rental policy is underwritten by Seaworthy Insurance Company and will pay up to the actual cash value of the boat.

A good starting point is the free Payment Calculator on our website, which will help you figure monthly boat payments or total cost.

The final essential element in any cost calculation is insurance. MarineMax offers comprehensive property and casualty coverage, what’s called hull insurance. Credit life and disability policies can help protect your financing, too. We make it easy to secure comprehensive, competitively priced coverage.

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