As boating enthusiasts, we understand your dilemma. Here are some tips to help you with your boat shopping:
Brainstorm: You’ve been dreaming about buying a boat and probably have some ideas in mind of what you want. Write out your thoughts about the kind of boat you want and list the features you hope to have included.
Attend a boat show: One of the best ways to explore the possible options is to visit a boat show. You can glean a lot of information from the vendors and talk with other boating enthusiasts. Ask questions and use the show as an opportunity to get educated about boats, boat safety, and services like boat insurance.
Investigate: Look into your options for new or used boats. Dig around a bit as to pricing, so you have a strong sense of market pricing – what’s fair and what’s overpriced or undervalued. In addition to looking through listings online, you might even want to reach out to a broker or boat dealer rather than deal with a private sale on your own.
Do a budget: Before you buy, make sure you’re financially ready for this investment. Do you have enough to cover the payments and maintenance? What are the real numbers for operating the boat? Consider everything from what you’ll need onboard for safety and comfort as well as practical costs like fuel and docking or storage fees.
Shop a little more: When you’re buying that new boat, don’t forget about shopping around for just the right boat insurance as well. Here’s our list of facts about boat insurance to help you when you’re buying a new boat.
Check it over: Make sure you look at everything before you buy, particularly if it is a pre-owned boat. Check the fixtures, engine, hull – top to bottom and inside out. In addition to the visual inspection, arrange for a test ride. Don’t worry if you seem nit-picky; it’s much better to take the time and care now than to discover a deficiency after you close the deal.
No matter what kind of boat you’re buying, call the marine insurance professionals at Global Marine Insurance to review your needs, discuss policy coverage, and present the best options available. We specialize in recreational and commercial boats, ranging from yachts and sailboats to passenger boats and commercial fleets.