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Archive for February, 2013

5 Annual Yacht Maintenance Expenses Feb 16

expensive yacht

Owning a boat affords the adventurous sailor a kind of freedom that many people never get a chance to experience. However, ownership of a yacht is more expensive than you may realize. Purchasing a boat is a significant expense on its own, but if you burn through your boating budget on the purchase alone, you may find yourself struggling to keep up with regular maintenance expenses. Keep in mind these 5 annual yacht maintenance costs, and be sure to leave room in your boating budget for future expenses.

  1. Cost of Fuel
    Unless you’re sailing on wind power alone, your vessel is going to need fuel to keep running. Many amateur sailors don’t realize how much fuel a yacht can burn on a single day in the water, and the cost of fuel may become a significant expense for these seafarers. Your fuel budget will end up becoming a major factor in your boating schedule. If you can’t afford to spend much on fuel, you may have to restrict your outings to special occasions only.
  2. Hull Maintenance
    The water is not friendly to boats. Paint may wear off quicker than you expect, barnacles may build up during periods of inactivity, and you may even have to repair weak spots and potential holes in your yacht’s hull. These can add up to take a large bite out of your boating budget. Having your yacht hauled out of the water, cleaned, treated, repaired and painted is not going to be cheap, and there is no way to get around these expenses. Be sure to leave room in your budget for these necessary annual maintenance costs.
  3. Mooring Expenses
    Where will your yacht find its home when it isn’t carrying you out over the water? This may not be a worry if you have your own seaside home with docking space, but if you’ll be tying off in an outside mooring facility, you can expect to pay for it. Just as it costs money to park your car in a commercial lot, you’ll need to pay for mooring space in the harbor to park your boat. Call around to local harbors and yacht clubs to get an idea of how much mooring will cost in your area.
  4. Engine Repairs
    Boats have many things in common with cars, especially in the mechanical sense. Just as your car needs periodic oil changes and tune-ups, your boat is eventually going to require some engine repairs. Boat engines often become flooded or clogged with debris after regular use, and this naturally leads to necessary repairs. Don’t forget about these mechanical expenses, or you could find yourself out of commission and searching for a Dollars Direct loan to finance your repairs.
  5. Sailing Equipment
    There are a number of other expenses in the life of a sailor that may not be regular, or even predictable. Sailing equipment items like life jackets, rope, tools, safety gear, or even linens and cookware may be necessary for your yacht. You may be thinking of these things as one-time expenses, but they don’t last forever. Keep in mind the things that you’ll need to by several times in the future to best plan for your new pastime.
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5 Things You Should Know About Boat Insurance Feb 01

beautiful boat

You wouldn’t drive a car or motorcycle without insurance, so what makes you think that it’s okay to take your motorboat out on the water without a policy in place to cover you, your guests, and your property in case of accident or injury? Although you’re probably more likely to get in a fender bender on land, you might easily run aground or fall victim to inclement weather during a boating excursion. Or a passenger might fall overboard, get knocked unconscious by a swinging boom on your sailboat, or suffer from severe seasickness that lands them in the E.R. The point is that you need to be prepared for anything that could go wrong on your boat if you don’t want to pay the price (literally). So here are a few things you should know about boat insurance.

  1. If you have a boat you should insure it. Most people don’t realize that their homeowner’s insurance policy could extend to their boat. However, the coverage is extremely limited, so you’ll definitely want to get the particulars before you rely on this policy to pay for your boat in the case of a loss. If you have an expensive water craft or you plan to take guests out on it, you’ll almost certainly want to beef up your coverage by obtaining a policy particular to your boat. If someone gets hurt or you end up with a total loss due to an accident of some sort, you’re foresight in this area will pay off.
  2. Read the rest of this entry »

5 Ways to Protect Your Yacht From Weather Damage Feb 01

beautiful yacht

Owning a yacht (or any other type of watercraft, for that matter) is usually a pretty nice thing. Not all of us are lucky enough to be able to own something like a yacht, and when you’re able to get one, whether it’s just for you or something that you plan on enjoying with your entire family, you definitely want to make sure that you’re able to protect your investment for a very long time. Yachts are anything but cheap, and when you’re actually able to buy one, there are usually a few pretty expensive things that come along with it. All told, your yacht can wind up costing you something of a small fortune. As a result, you definitely want to make sure that you’re doing everything in your power to make sure it’s safe and protected at all times.

Because boats sit in the water, they’re exposed to a pretty serious amount of risk when the weather turns foul. Many yacht owners have systems in place to make sure that their very expensive boats are protected no matter what the weather decides to dish out. If you’re thinking about buying your own yacht, you’re probably starting to think about how you will go about protecting it from harsh weather. We’ll talk about five solutions that you’ll be able to utilize so that you can rest easy and know that your yacht is protected from any and all bad weather.

1. An Awning. When you don’t have anything too terribly severe to deal with, an awning might do the trick just fine. Not all boats are kept in places where they’re under threat from things like hurricanes or tsunamis — sometimes all you need is a bit of protection from the sun and any rain that might show up. An awning will keep your yacht protected from harmful UV rays and make sure that the wind and rain don’t mess up its interior.

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