The high seas continue to beckon, seeking out more and more people for rest and exploration. In fact, according to the National Manufacturer’s Association, people purchased approximately 320,000 new boats in 2020. These new owners face plenty of fun and responsibility as they learn to navigate the waters and invest in OC boat insurance.
Owning a ship, though, means more than sailing. It demands time, attention, and money. While a worthwhile commitment, new captains should understand the obligations that come with the enjoyment.
What To Keep in Mind When Buying a Boat for the First Time
When selecting the appropriate ship, carefully reflect on how you see yourself using it. Are you taking out large groups? Do you plan to go into deep waters? Will you sleep overnight or use it mainly during the day? Buy a vessel that suits your personal needs now and for the next few years down the road. Select something large enough for your social circle or family and sufficient for your preferred travel locations.
Read state codes and laws, learning about government requirements. Many states demand boat owners take safety classes, pay registration and buy OC boat insurance. Without these, trips may remain grounded, leaving you to enjoy your boat on the mainland and not the calm waters.
Compare this venture to car shopping. Weigh the cost of gas, mileage efficiency, and engine capability. Also, make a note of the boat’s condition and efficiency. This information should also top your ship evaluation list.
Things To Consider When Buying a Boat for the Long Haul
This expense doesn’t end with the initial payment. Owning a boat means a long-term commitment, requiring attention to upkeep and annual costs. With that in mind, be sure you weigh the yearly bills with how much you plan to use the vessel.
What extra payments are you likely to have? First, you must maintain an active OC boat insurance policy. This coverage assists in several situations. What happens if you transport the boat and it hurts another vehicle? Insurance works with repairing the damage. In addition, should an incident happen out at sea, you could turn to the insurer to restore the boat, saving you from paying significant price tags.
Like a car, ships demand frequent inspection and tune-ups to ensure they remain safe for use. For your protection, you want to assess for physical damage to the exterior and the main parts. Holes can occur, allowing for water intrusion, and engines and batteries can stall. Both of these pose difficult marine situations.
If you’re ready to begin your marine adventures, then search for a boat within your budget. Before committing, understand what ownership entails and prepare yourself for the responsibility and fun of having your vessel.
About Mariners Insurance
Mariners General Insurance Group was founded in 1959 to protect boat owners and marine business clients. We are marine insurance experts and insure boats worldwide – in every ocean on the planet. Marine insurance is critical if you own a boat or nautical business. Trust the professionals with all of your Boat Insurance needs – trust Mariners Insurance. Call us at (888) 402-5018 any time you have questions or concerns about insurance for your vessel or marine business.
