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Annual boat costs, berth, maintenance and insurance in perspective
As a rule of thumb, annual running costs come to ten to fifteen per cent of the boat's value,
and in that perspective insurance is the smallest item among them.
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The berth and winter storage together account for the largest share, followed by maintenance and consumables. Insurance usually comes to about one per cent of the boat's value and therefore sits well below the fixed cost of the berth. These are figures drawn from experience, not quoted prices, and they vary considerably from region to region.
When you buy the boat, this arithmetic is easy to overlook. A boat worth one hundred thousand euros costs roughly ten to fifteen thousand a year, however often you go out. If you go out rarely, the cost per day afloat is correspondingly high, and that is what a seasonal policy is for: you pay only for the months the boat is in commission.
Saving on the premium is the wrong lever to pull if it costs you cover. In a total loss, the gap between market value and an agreed value can cost more than ten years of the difference in premium. It makes more sense to work on the big items: the berth, the type of storage and how much of the maintenance you do yourself.
Frequently asked questions
What share of a boat's running costs is insurance?
Usually about one per cent of the boat's value a year, the smallest of the running costs.
Is a seasonal policy worth it?
If you are only out for four to six months, yes.
From 1 November to 31 March there is then no cover, not even in winter storage.
Worked out for your type of boat
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