An old boat is always going to need constant maintenance, and it’s likely that your boat insurance premiums are going to be higher than if you had a newer model. Eventually, there will come a point where you wonder if purchasing a new boat would be a more financially sound decision than continuing to pour work into your old boat. If you think your boat is out of commission, are you ready to find a new one?
First, it’s important to consider whether the upgrade is needed at all. Sometimes a long time boat owner has to make a decision: part with something that they have sentimental value to, or connect with something sleek and brand new?
But how do you know when you’re ready for a new boat? There are some pretty decent signs to consider when thinking about this decision. If you need some extra help deciding on whether it’s time to upgrade, this blog is for you.
Here are four major signs that mean change is needed; here’s what Without A Hitch recommends upgrading to a new boat.
#1: Your Boat Needs Too Much Work
Eventually, most boat owners are going to decide to upgrade for the sake of their boat insurance and other costs. But some people are stubborn and aren’t ready to let go. However, if you’re putting more money into your boat than it’s really worth, it might be time for an upgrade.
Don’t keep plugging up holes and wishing for the best. Just like an old car, sometimes it’s better to lease a newer car in order to avoid imminent problems. Another thing to note is that the older the vessel is, the harder it’s going to be to find parts to replace what’s been worn out.
#2: Your Boat Doesn’t Serve Your Needs Anymore
Your boat is on its last legs, meaning it’s just not performing the way that it’s supposed to. Once that happens, it may be time to consider a new boat. There’s no reason to waste your boat insurance on something that’s much older. If your boat is unable to be modified with the amenities that you need, then getting a new boat is going to be a lot easier than trying to make an old boat more modern. If your boat even harbors a little shoddy flooring, it could be hazardous for someone on board.
#3: There’s Not Enough Room to Move Around
Maybe your boat is a little too small now to fit your growing family and friends. That means it’s time for something bigger and newer. Squishing everyone on a small boat is not only completely lacking in fun, but it’s also incredibly dangerous. You want your day out on the water to be comfortable. If your boat is too small, that’s not going to happen.
#4: You’ve Outgrown it, No Longer Finding it Easy to Use
Most first-time boat owners go for whatever is going to be easy for them. Eventually, many grow out of it and start to look for something a little more advanced to fit their growing needs. Others might find that the boat they originally purchased is actually no longer easy to use.
Sometimes a newer boat is going to be more straightforward to handle, as well as having amenities that older boats may not. But if you’re buying a bigger boat, make sure that your boat insurance matches the value of it.
About Mariners Insurance
Mariners General Insurance Group was founded in 1959 to protect boat owners and marine business clients. We are marine insurance experts and insure boats worldwide – in every ocean on the planet. Marine insurance is critical if you own a boat or nautical business. Trust the professionals with all of your Boat Insurance needs – trust Mariners Insurance. Call us at (800) 992-4443 any time you have questions or concerns about insurance for your vessel or marine business.