Global Marine Insurance: Christmas List = New Boat

The off-season is definitely the best time of year to buy a boat. You can purchase them for a much better price during the colder months due to a lack of demand and owners reluctant to have to store and pay for their boat through the winter if they don’t plan on being able to have it for the following summer. Even if you live in California or Gulf Coast areas that do not experience many cold temperatures, you can still secure great deals in late fall from boat dealers when they want to move inventory and try to sell their end of the year models to make room for upcoming new boats. In the winter, you will find some of the best deals at boat shows when sellers want to move their boats through the pipeline quickly.

Since many people are distracted with travel plans, gift giving, office parties, and a variety of other concerns during the holidays they usually do not give boat buying much of a thought. The boating industry experiences a decrease in boat sales at this time of year and in turn can pass along great discounts to its customers. Dealership accountants try to minimize taxes by paying bills and removing non-current inventory on their financial books near the end of each year. Even boat dealers who do not have any taxes to pay are more desperate for sales at this time in hopes of meeting their financial obligations such as payroll and rent. All these conditions result in a willingness to often make great consumer deals.

Before buying a boat, remember to obtain some boat insurance quotes. You will want to make sure a boat insurance policy is set up before bringing your new boat home just in case it sustains any damage during transit. It is best to purchase a boat insurance policy that will provide extensive vessel coverage for different types of loss. You should also consider buying a separate boat insurance policy rather than simply adding it to your homeowner’s policy since many of them limit their liability and do not cover marine-specific risks, such as environmental or pollution damage, wreck removal, or salvage work.

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