Ownership Costs

Buying a Boat Can Be Affordable

  • In some instances, you can buy a new boat financed for around $250.00 a month, like a car.
  • Boats provide tax deductible and cost effective second homes. Interest on a boat loan can be deducted if the boat has a galley, berth and head.
  • Visit a boat show to see what boating products are available and line up the best deals.


Boat insurance costs vary by boat length and type, cost of the boat and level of coverage. Consult your insurance agent for quotes or compare rates online. Some smaller boats can be insured for a nominal sum as a rider on a homeowner’s policy. You may be able to reduce the cost of marine insurance premiums by taking a boater’s education course.


  • Boat, trailer, and motor maintenance can be as simple as a freshwater wash down aftereach use and keeping them covered between adventures, helping to keep maintenance costs at bay.
  • Costs for routine maintenance vary by region, but for more involved services, such as oil changes and winterizing, expect to pay what you would for your car on an hourly basis.
  • Pre-owned boats can require significantly more maintenance.


Wash your boat regularly to prevent long-term effects of environmental wear and tear.


  • Keeping electrical components dry should be a regular part of your boat maintenance routine.
  • When your boat is docked, ensure lines are securely fastened, neatly coiled and do not show signs of wear to avoid damage.
  • Proper boat maintenance means being actively involved in all aspects of your vessel.
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Be sure to discuss storage possibilities with your local dealers or marinas when buying your boat, as many will have options available to you.