should i buy or rent a boat

Should I Buy or Rent a Boat?

Written by Boatsetter Team
May 11, 2021

Last Updated on August 17, 2023 by Boatsetter Team

Buying a luxurious boat is a dream that lots of people have. Boat ownership can also feel prestigious and give you a sense of being part of an exclusive club. In addition to these things, there are plenty of other good reasons to buy a boat, but you also need to keep the following information in mind.

If you have ever been a boat owner, you probably found it to be quite expensive. After paying considerable boat insurance and registration costs, you probably also had to deal with high maintenance and storage fees, as well as plenty of other costly boat-related expenses. You might have also found that you didn’t have quite as much time for boating as you used to.

Owning a boat can get expensive if you are not careful. You have to consider the initial purchase price of your boat and the costs of any safety and navigational equipment. Here is a more detailed breakdown of all of the fees you might be forced to deal with when you own a boat.

For all of these reasons, it might make sense to consider renting a boat instead of buying one. Boatsetter is a peer-to-peer boat rental company that helps you to do exactly this, with a wide range of impressive models to choose from. If you have been thinking about renting a boat instead of buying one, here are a few things to keep in mind as you start making your decision.

Staying Safe with Insurance

Boats are valuable assets, so owners need to keep them safe when they offer them as a bareboat rental (a boat that can be taken on the water without a captain). There are plenty of reasons why renters and owners need good boat insurance, like protection from being sued and protecting expensive damage. Boatsetter offers a peer-to-peer boat insurance package, provided through Geico, which will cover you during the Boatsetter rental period. Each Boatsetter rental covered under this policy comes with significant liability coverage: $300,000 per person and $300,000 total liability per accident. This type of insurance is great for owners and renters because the insurance costs are very low.

Selecting a Boat Rental

Now that you have enough insurance, you still need to select a boat. Be sure to browse through current listings with high-quality photographs. Always be respectful and respond quickly when you are negotiating a rental. Read as many reviews as you can from previous satisfied customers. Finally, confirm the rental that is within your price range.

Once you have selected a boat, get a bunch of your friends together and get out on the water. In this modern era, using the sharing economy can be an excellent idea. Companies like Airbnb and Uber are peer-to-peer platforms for properties and cars. Boatsetter is quite similar in style, except that we are a peer-to-peer boat rental company that connects boat owners and potential customers. As a renter, you can get the benefits of being out on a boat without actually having to own one.

At Boatsetter, we help regular people rent the types of boats that they would never be able to afford alone. If you find a bareboat rental listed at $8,000 a week, you and seven buddies can rent that boat at the cost of only $1000 per person. Another major benefit is that you can rent various boat types, including pontoons, yachts, powerboats, sailboats, and even jet skis, to use for even just half a day and then decide if you want to take it for a longer period.

Another major benefit is that you can rent any type of boat to use for a day or longer and then return it. Many of the all-inclusive options on Boatsetter are fully loaded. For example, if you select a boat primarily for fishing, you’ll find that most boats come fully rigged, so you’re ready to go when you get out on the water.

Bareboat or Captain?

A bareboat rental is often the simplest way to go because you have full control when taking the boat out. However, you should also consider the option of having a licensed captain aboard. This means having an expert on the boat. If some kind of emergency arises, you can have full confidence that the boat captain will handle the situation professionally.

A Few Extra Tips 

If you already own a boat, you should be listing with Boatster. This can be a very good way to make a little extra money and to give your boats a little more time out on the water.

Keep in mind that reservations made through Boatsetter can be canceled up to 24 hours in advance. Rest assured that we only work with captains licensed by the United States Coast Guard. All Boatsetter owners and renters are protected during a rental, and we also offer on-water assistance through BoatUS, online boater safety certifications through the BoatU.S. Foundation for Boating Safety and Clean Water, and around-the-clock support.

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