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The Costs that Come With Owning a Boat

Sailing the seas with your very own boat can seem like a fun time. However, owning a boat can be costly for someone whether they are using their boat just a couple of times every year or every other weekend. Look more into the many costs that come with purchasing your boat.

Initial Cost

Like any other vehicle, you have the choice between many different boats. Boats not only differ in shape and sizes but the pricing depending on the feature set. For example, you can start looking at Jon boats that only start at $500 but then you can get into purchasing boats that start in the six-figure range. Make sure you have enough money before you start looking around for a boat to purchase.

Storage

Once you’re done boating for the day, you’re going to have to find somewhere to store your boat. Some might live somewhere where they can simply park the boat on their driveway but some don’t have space or don’t like it, which is why they park it at a dock. When someone parks on a dock that they don’t own, they can expect to be spending thousands of dollars for the right to stay in that water all year long with enough security to ensure their boat isn’t broken into. Prices for dock storage can differ depending on if you live in a small area with more middle-class boat owners or if you live somewhere with a bunch of rich yacht owners. Always consider the cost of storing your boat before you make your purchase.

Insurance

Boats are much like any other vehicle in that you can harm other people or property if you make a mistake driving it. Having boat insurance through a company can be crucial when you’re looking to drive your boat somewhere with a bunch of other people to run into. You’ll also need to look into boat insurance since some states legally require you to carry it wherever you want to take your boat out on water.

However, insurance companies don’t really discriminate on their boat insurance pricing compared to car insurance pricing. This means you’ll have to consider if you want to take on a charge of tens or hundreds of dollars per month just to keep your boat and others safe. Strongly consider your boat purchase decision depending on if you want to purchase boat insurance monthly or not.

Fuel Costs

Even though your boat is likely to be out in the sun all day, you’re not going to be able to run it off solar power. Instead, you’re going to have to constantly be filling up your boat with regular non-ethanol gasoline. This can make boat ownership much more expensive than owning a car since boats can burn anywhere from two to tens of gallons per hour just running on the water. Someone spending their entire day on the water can quickly realize that they are ending up spending hundreds of dollars before their boat trip is even done. Always make sure that you’ve factored in regular fuel costs before you purchase a boat.

Conclusion

Boat ownership can be a lot of fun for those that either want to swim in a lake or go out on a regular fishing trip. Like any other hobby, you might feel like boat ownership brings you enough satisfaction in your life that it’s worth the money. It’s just good to know ahead what you can plan on spending whether you are willing to pour money into your hobby or if you’re going to have to let your boat sit out on dry land all the time.

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