Insurance is our practice, but because of the wide variety of watercraft insurance we provide, we’ve also become well-acquainted with the different types of boats available, and how their owners utilize them for different goals. If you’re considering buying a boat for the first time, you’re likely somewhat dazzled by the variety available to you. Would you rather glide across the water in a sailboat, or race across the waves in a motorboat?
Your boat will be one of the highlights of your free time for years and years to come. It’s going to be the setting for some of your fondest memories, or the reason you’re able to bond with friends and family so easily. It’s also likely going to be an investment, one large enough to protect with customized boat insurance. So naturally, taking all of this into account, you’re going to want to be sure that the boat you choose is one that’s the right fit for your life and goals.
Fortunately, there are three questions you can ask yourself to help narrow down the field to boats that would be the best fit. Read along and keep your answers in mind - by the end of this post, you might very well have already made your decision.
- What Kind of Activities Do You Want to Use Your Boat For? Boats are designed to serve different purposes. Some are built for leisure, some are built for sport, and some are designed to sustain a fishing business. The kind of boat you purchase should be largely based on what you intend to use it for. Are you buying a boat for:
Even if you skip the other two questions in this blog, be sure to ask yourself this one. How you intend to use your boat will instantly narrow down your choices and should make your selection process much easier.
- Where Do You Plan on Sailing Your Boat? Depending on where you plan to sail, your boat will need to be able to handle different varieties of waves and depths of water. If you’re planning on hitting the open ocean, you’ll need a different boat than one designed for quiet, peaceful fishing on a small lake. You may need to consider another one altogether for the rougher waters of the Great Lakes.
Wherever you’re planning to explore, make sure that the boat you have in mind is designed to handle it. Do you want to be able to get back to shore quickly, or at a moment’s notice? You’ll likely need a boat with an inboard motor. Are you less concerned with lazy afternoons and more interested in durability and power steering? You’ll probably want a boat with a taller hull that’s built to handle waves.
- How Much Are You Willing to Spend on Your Boat? Buying a boat is almost always an investment (unless you’re purchasing a used kayak or rowboat). Different styles of boats come with different price ranges. If you’re looking for something on the low end - around $10 to $50 thousand dollars - you’re probably going to be considering a sailboat, a deck boat, a fishing boat, or a pontoon boat. If you’re willing to invest for what you want (in the range of $100 to $500 thousand), you could safely look for a speed boat, cabin cruiser, a jet boat, or a high-end fishing boat.
As with any other kind of purchase, it’s best to restrict your browsing to what you’re willing to spend. Otherwise, you might fall in love with a boat that’s way out of your price range, or you might commit to a boat that costs more than you can comfortably afford. More expensive boats will also likely cost more to insure, even with Canadian boat insurance plans.
Protecting Your Boat With the Right Watercraft Insurance So, where are you at in your search? Do you have an idea of the kind of boat you’re looking for? When you’ve made your decision and welcomed your boat into the family, you’ll want to make sure that it’s protected from damage, breakdowns, and theft.
At MD Marine, our Canadian boat insurance packages include everything from vermin protection (yes, damage can happen even in storage!) to on-the-water emergency towing. We even offer loss of use coverage for all kinds of boats except PWC, so you’ll never have to miss out on a single golden afternoon on the lake. For more information on our options for Canadian boat insurance, give us a call at (877) 627-4633. You can also contact us online, or get an instant quote from our online boat insurance calculator.