Written Warranties

It might not have the appeal of bright chrome and shiny gel coat or have the exhilarating kick of a high-horsepower engine, but the manufacturer’s written warranty can make or break the new boat experience faster than a fish-finder can spot a school of blues.

Simply put, the warranty is the manufacturer’s promise to stand behind its products by providing service and repairs after purchase.

Since marine warranties vary widely in their coverage, comparison shop before you buy.

Look for multi-year warranties for hull structures and engines, as well as coverage for osmotic blistering, a common, but expensive-to-fix problem on fiberglass boats. Check also to see whether the warranty transfers to subsequent owners — a strong selling point when it comes to used boats.

Remember:

• Written warranties must be made available to you before you buy. Call the manufacturer for a copy if the dealer won’t provide one.
• The limited warranties on most boats and engines mean that you may end up paying for some part of the repair costs. Read the fine print to avoid surprises later on.
• New boats come with separate warranty coverage from the engine and boat manufacturers, as well as the makers of other major components.
• Fill out and return warranty cards to be sure you’ll get service when you need it.

Boat Loans & Marine Insurance

Financing a new or used boat is a fairly straightforward process if you’ve got a good credit history and the 15-25% down payment. You may even want to pre-qualify for a loan before you go boat shopping to give yourself some extra leverage when it comes to negotiating prices with dealers.

On a new boat, the Manufacturer’s Statement of Origin certifies that it has had no other retail owner. With used boats, lenders check for a clear title or record of ownership. In addition, information about pending liens or unpaid debts may be recorded in the county court where the boat is kept or where the owner resides.

For larger boats, lenders usually require marine insurance coverage and federal documentation (see www.boatus.com/guide/s_safe.asp) as conditions for loans.

Basic marine insurance includes Hull Coverage for damages to the boat whether it is on land or in the water and Protection and Indemnity Coverage (also called P&I coverage or personal liability insurance) for property damage claims and claims for injuries to your crew or those on a boat you may have damaged.

Insurance costs are affected by length of boating season, area of navigation, previous insurance claims, and boating experience. Expect to pay more if you own a “muscle” boat, a wooden boat or if you live aboard or cruise offshore.