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How much does it cost to maintain a boat

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That can cost you a boat

You have searched for a long time and finally found your dream boat. Now the question arises whether you can – and want to – afford your dream. Because the purchase price is only one variable in the invoice that you can never make without maintenance costs. I’ll tell you how much your dream boat will cost you on balance.

For many people, buying a boat is an emotional decision. Most of them feel right at home on the water and want to relax. Very few buy a boat in order to get from A to B as quickly as possible, as with their car. In contrast to buying a car, many future boat owners decide emotionally instead of rationally and forget, for example, how much their boat will cost them month after month and year after year. A mistake that one or the other later regrets.

The ten percent rule of thumb

The purchase price is just a variable. In addition, there are the costs for maintenance. You can easily estimate the annual maintenance costs: A rule of thumb puts the expenses for care, berth, repairs and insurance at ten percent of the purchase price. More precisely from the new price. If you buy a used motorboat or sailboat, you have to expect ten percent of the new price. A boat that costs around 60,000 euros new costs around 6,000 euros a year or around 500 euros a month.

No rule of thumb without exception

How high the maintenance costs actually are depends on many factors. A berth in Monaco costs more than anywhere else, a winter place in a hall is more expensive than a corner in the garage. And boat insurance premiums vary widely. Two years ago a Swiss consumer magazine compared premiums. Liability and fully comprehensive insurance including partially comprehensive insurance cost more than twice as much for a motorboat worth around 60,000 euros for the most expensive company as for the cheapest.

Better budget carefully

If you are considering buying a boat, be sure to establish a budget before signing a contract. This is how you protect yourself from nasty surprises. These points belong in the cost overview:

  • Berth in summer
  • Berth in winter
  • fuel costs
  • crane (once in, once out)
  • Transport from winter to summer – berth and back
  • Repair and maintenance work
  • Insurance premiums / boat insurance

Comprehensive insurance for pleasure boats

Liability insurance for pleasure craft

Occupant accident

Skipper liability

Skipper occupant accident

Example calculation for a sport boat with a length of 6.25 m or 20.5 feet and an inboard engine with 130 hp:

approx. € 343.25 insurance liability and comprehensive insurance

approx. € 500.00 berth home port

approx. € 900.00 summer vacation 2 weeks vacation in Croatia and weekend trips

approx. € 25.00 cleaning of the underwater hull

approx. € 300.00 wintering

approx. € 400.00 winter storage

approx. € 550.00 fuel costs

approx. € 200.00 underwater paint and cleaning material

approx. € 450.00 repairs or reserves

approx total costs of € 3,668.25 per year

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