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Boat Trader Frequently Asked Questions
What is the cost of a warranty or extended service contract?
If you receive a warranty on your new boat, there is no cost to you. By legal definition, warranties cannot be sold and must be given as part of the purchase. The price range for an extended service contract depends on when you purchased it, how old your boat/engine is, and what coverage is included. Remember, if the price seems too good to be true, it probably is, so please do your research.
What do I need to do to prepare my boat for shipping?
Before the boat shipping can commence, pictures of the boat should be taken to document its condition. All gear aboard needs to be removed or secured in such a way that it can't move around during transport. Hatches, doors, and windows also need to be secured and, where possible, locked in place. Bimini tops and other removable structures should be taken down and securely stowed. Batteries should be disconnected, and if possible, removed. Finally, the fuel, holding, and water tanks should all be drained and drain plugs should be removed from the hull.
How much does it cost to ship a boat?
This ranges widely, depending on the distance of the trip and the size of the boat. An overland boat transport ranges from a few hundred dollars for a short haul to several thousand dollars going cross-country. Yacht transport can range up to tens of thousands of dollars, especially if the yacht delivery is international.
How much does it cost to insure a boat?
On average, boat insurance costs around 1.5% of the value of the boat per year. So a boat worth $10,000 would be approximately $150/year to insure.
What deductible and coverage should I choose?
Choose a deductible you would be comfortable paying in the event of a claim. In terms of policy limits, you need to choose an amount that protects the financial interests of you and your family if someone were to sue you, which can happen in America.