Global Marine Insurance: Used Boat Shopping Tips

When buying a used boat, just as when purchasing a used car, there are several basic points to remember, including the fact that boat insurance rates vary, depending on the type of craft being purchased. Be sure to check the boat out in order to avoid landing yourself with a bad investment or worse still, a dangerous craft that could leave you stranded on the water.

Global Marine Insurance: Living on Your Sailboat – Pros & Cons

Expenses are another area that demand careful consideration typically when you purchase a yacht financing will allow you to pay for it over a maximum of twenty years vs. thirty years for a home. If you are trying to stretch out your payments this could make your month-to-month living expenses higher than a home that’s the same price. On the other hand boat insurance rates are often lower than home insurance and it’s likely that the property tax will be lower as well. Of course you should plan for maintenance expenses and depending on the age of your boat they could vary significantly. Older boats may cost less to purchase but their maintenance costs can be significantly higher than a new boat.