Here in Arizona, we have the luxury of enjoying boating season nearly year-round. As we round out winter and temperatures start to rise, it’s also time to venture out to your local boat show to discover all the new and exciting features for 2018. If you happen to be in the market for a new boat, a boat show is a great place to view inventory, ask questions, and perhaps even strike a deal. Continue reading to find out more about boat shopping and how you can make the most of your investment.
Financing
How much are you planning to spend on your boat? Will you pay cash, get a loan, or some combination of the two? If you plan to borrow money for your purchase, take time to shop and compare loan rates before you visit the boat show. If you get a pre-approval, you can save time applying for a loan in-house, and you may also qualify for better terms.
New or Used?
Like a used car, a used boat tends to cost less than its new counterpart due to depreciation. However, you might be dipping into the used boat savings you pocketed as soon as the first mechanical problems arise. If you had purchased a new boat instead, the higher upfront cost would have probably included a manufacturer warranty, which is designed to reduce your cost of ownership and maintenance.
Choosing Your Boat
New boats can cost tens of thousands of dollars – money you want to spend as wisely as possible. That’s why it pays to do your research and determine which type of boat will work best for your family’s lifestyle. If you buy the first boat that looks like a good buy, you could face buyer’s remorse later.
First, consider how you will be spending time on your boat. Will you be fishing, entertaining, or skiing? All of those activities are better spent on different types of boats, although some are versatile enough to host all three. Some of the most popular boat types include:
- Bass boats (for fishing)
- Ski boats
- Wake boats
- Pontoons
- Sailboats and catamarans
- Deck boats
- Bowriders
Next, consider what size boat you might want. If you plan to spend most of your time cruising with your significant other, you may not need a large boat. On the other hand, you might need a big watercraft with plenty of seating if you plan to entertain friends and extended family. Just try not to buy more boat than you actually need. Bigger boats are more challenging to navigate, and transport and they can also prove more difficult to store – especially if you do not live, or rent a slip directly on the water.
Don’t Forget Boat Insurance
It may be easy to overlook boat insurance or otherwise rely on your homeowners coverage for watercraft protection, but doing so is a mistake. First, homeowners insurance provides only limited protection – usually for small, non-motorized vessels and motorized boats with 25hp outboard or 50hp inboard and i/o motors. Anything bigger than that is often excluded.
Here at Harnish Insurance, we help our customers find quality boat insurance with customized coverage solutions that help minimize risk exposure both on the water and away from it. When you choose us, you get access to policies that cover:
- Property damage and bodily injury liability
- Boat damages
- Personal property damages
- Special equipment damages
- Towing and emergency assistance
- And more
To request a quote for Arizona boat insurance, contact our office today.
