uying a pontoon or deck boat should be enjoyable from start to finish, beginning with the dream. The last thing you want is for your reverie to be broken by the crushing realization that you can’t afford the boat you thought you could because of a host of unforeseen expenses.
We’ve compiled a list of costs to consider from the get-go. This can help you make the best purchase so your dream-come-true doesn’t turn into a nightmare you can’t afford.
Registration, Licensing & Certification
A boat is a vehicle just like a car is and must be registered with your state. These registration fees vary widely, but keep in mind you could be looking at fees anywhere from $30 to several hundred, depending on the type and size of your boat and the state you live in. If you have a trailer for your boat, this will also need to be registered for an additional fee.
Your state may also require you to obtain licensing or certification in order to legally operate a watercraft. Even if your state does not require this, you may decide it’s a good idea to take a course or two on operating a boat to offer you some peace of mind that you know what you’re doing. The cost could be worth it as it could benefit you in the long run.
Insurance
Insurance for your boat is something you’ll need regardless of the state you live in. There are endless insurance options on the market, which can get a little overwhelming. A good place to start is with your current auto insurance dealer. Ask them about any plans they have for boat coverage and if they offer savings for bundling car and boat insurance together.
Starting the conversation can give you an idea of what you’re looking at, but don’t feel locked into anything and don’t be afraid to check around with other insurance companies. Compare prices and options until you find the right fit. This is your boat and your budget, so be picky.
Safety Gear & Equipment
The cost of safety gear and equipment isn’t something first-time boat buyers necessarily think of when they’re walking the boat show aisles looking at shiny new boats. Federal regulations require you to carry a certified life jacket for each passenger on your boat. Boats 16 feet or longer must also carry at least one U.S. Coast Guard-certified throwable device, such as a ring or horseshoe buoy. Depending on the size and use of your boat, visual distress signals and fire extinguishers may also be required.
Fuel
For many boaters, the biggest sticker shock of all may be the cost of fuel. Many factors affect the cost and efficiency of fuel for a boat, including where you buy it, but the type of boat you’re using, your cruising speed, conditions on the water, and other factors can affect it as well.
Gas prices are significantly higher at a marina and you can save a little if you plan to trailer your boat to the lake by filling up before you launch. Boats will never use fuel as efficiently as cars do because water offers a lot of resistance. Many people find that for a single excursion, they can spend upwards of $100 on fuel alone. If you’re going out on the water once a week or so, this adds up fast. Keep this in mind when you’re putting together your boating budget and considering your engine size.
Maintenance
Something else that first-time boat owners may not readily consider is the cost of maintenance. A yearly task such as winterizing your pontoon or deck boat if you’re not able to boat year-round is important to keep in mind. Engine tune-ups, electrical repairs, and of course general wear-and-tear maintenance on various areas all bring their own cost, but for the most part these typical day boats are easier to maintain compared to larger vessels with kitchens and toilets on board.
Talk with other boaters in your area to find out where they get their boats serviced and who they hire out for repairs. Or, if you’re handy, you may be able to save on labor costs and do some of the work yourself. If you go this route, keep in mind the costs of parts and supplies.
Hauling & Storage
Another expense that can be quite significant depending on your specific boat and various other factors is hauling and storage. During boating season, you may choose to keep your boat at a dock or in a marina, which brings its own package of fees. Once the season ends, you’ll need off-season storage too.
If you choose to trailer your boat yourself, know that trailers range in price in the thousands but in some cases are included with your boat purchase. You’ll also need a durable cover, which is especially important to protect the interior of your pontoon or deck boat. Covers can range in price anywhere from $50 to hundreds or even thousands for custom-made. Just remember that a good cover will help protect your investment, but usually a mooring cover is included when you buy a new boat.
Balancing The Books
When all is said and done, owning a boat is a significant investment with numerous ongoing costs. While this may seem overwhelming, rest assured that there are a wide variety of boats to fit any budget. If you plan carefully and enter the boating game with your eyes wide open, there’s no reason you can’t come out in the black every time.