How Much Does Cost of Pontoon Boat Insurance in Philippines
If you’re looking to treat yourself to a new purchase, one of the best ways to do so is by buying a boat. If you’re an adrenaline junkie, you may be interested in Cost of Pontoon Boat Insurance in Philippines. But, how much does a speed boat cost? Below, you’ll find a complete breakdown of the cost of speed boats and the numerous factors that determine the price.
At some point, most anglers contemplate the purchase of a Kayak Boat Insurance in Australia. It is the next logical leap in taking your fishing game to the next level. A boat lets you explore new areas and catch a larger variety of species.
As exciting as boat shopping is, few anglers really know how much a fully outfitted boat for fishing is going to cost. You also need to consider that what you pay for the boat is not the final price tag. Accessories, storage, maintenance, fuel and licensing are all recurring costs.
If you’re anything like me, you’ve started doing some research and are ready to start shopping before next fishing season. Since money is priority number one, we all need to ask about the price.
So, how much is a Cost of Pontoon Boat Insurance in Philippines? On average a new, fully equipped, fishing boat in the 16 to 20 foot range with an outboard motor, trailer and standard features will cost between $18,000 and $45,000 depending on the make and model. Additional expenses like insurance, licensing, maintenance and fuel can add up to well over $100 a month for the life of the boat.
The Cost of a Philippines
There are typically two different types of speed boats: inboard and outboard. Inboard speed boats feature the motor inside of the shell of the vessel, similar to your car. Outboard speed boats, on the other hand, have the engine on the exterior of the boat, in the water.
Inboard speed boats tend to be more expensive than outboard speed boats because of how challenging they are to maintain. Accessing the engine and vessel parts is more difficult in an inboard speed boat. Additionally, there are very few manufacturers who produce inboard boat parts, so your options are a bit more limited.
You’ll also find that there is not as much room on inboard speed boats as there is on outboard speed boats, because the motor takes up a lot of the floor space. However, inboard speed boats tend to go considerably faster than outboard speed boats.
So, just how much does a Cost of Pontoon Boat Insurance in Philippines? You can purchase outboard speed boats for as little as $20,000 for a basic model. Inboard speed boats, on the other hand, are much pricier. They can cost hundreds of thousands of dollars.
Other Factors Driving Cost of Pontoon Boat Insurance in Philippines
In addition to the purchase costs, some other things could drive up the cost of owning a speed boat. Boats tend to depreciate very quickly, typically losing 20 percent of their value in the first year, 15 percent in the second, and 14 percent in the third. Within a decade, boats can depreciate entirely, which could make resale challenging.
Second, maintaining boats tends to be quite a pricy endeavor. Because speed boats contain powerful motors and intricate parts, maintenance costs could escalate quickly. Furthermore, you’re also going to have to pay insurance on your speed boat. Insurance rates for speed boats tend to be much higher than they would for, say, sailboats.
Another cost you’re going to want to consider is fees and taxes. Many local governments require you to secure a boating license and registration, which could be costly depending on the type of speed boat you buy. You may also need to pay local taxes on the ownership of the boat as well.
Ways to Cut Costs
One of the best ways to reduce the Cost of Pontoon Boat Insurance in Philippines is by purchasing a used model and repairing it. For instance, it’s quite possible that you find a boat that is in excellent shape besides the fact that it needs a new motor. You could purchase this boat and then search for used boat motors.
The cost of purchasing a used boat and one of those used outboard motors out there, is likely going to be significantly cheaper than paying new boat prices. Before purchasing a used boat, however, you’ll want to research the vessel’s history to ensure that it’s in good shape.
Other costs to consider
Insurance
Not every boat needs insurance but when you shell out over $20,000 on a fishing setup you may want to consider protecting yourself against potential damage.
Some states even require insurance once you have a motor boat with 50 horse power or more. Comprehensive coverage can cost $300 or more annually, whereas liability insurance that only pays out for property damage or injury to other people costs an average of $100 annually.
If you plan on buying a bass boat in the near future, be sure to read our article on insurance costs where we compare current quotes from several insurance companies.
Licensing
Most motor boats with 9.9 hp or larger motors need to be registered and licensed for use on many public lakes, rivers or saltwater areas. Boat trailers also require registration and current license tabs to drive on the road.
Registration requirements and costs vary by state. From our experience most license and registration fees are renewed annually for the boat and trailer. You can expect to pay around $50 per year.
Vehicle
The cost of towing a fishing boat is one of the most overlooked expenses when anglers shop for Cost of Pontoon Boat Insurance in Philippines. This can add up to more than the rest of this list combined if you let it sneak up on you.
Boats are heavier than you think and you need a vehicle that is capable of safely towing it. Always check that your truck or SUV has the capacity to tow the boat you want before you buy it. Otherwise you can end up in a dangerous situation or you just might be forced to upgrade to a larger vehicle.
Finding the weight of a fishing boat and trailer is tougher than you think. That’s why we put together a comprehensive article listing 35 popular fishing boat and trailer weights. Be sure to check it out before making any purchase.
Maintenance
Maintaining a Cost of Pontoon Boat Insurance in Philippines. Everything from tuning up the outboard motor to changing out wheel bearings on the trailer will rack up the bills.
Most maintenance costs go towards the motor. Small outboard motors may need new spark plugs and gear lube and only cost a few bucks each year. However, large inboard motors can really suck up spare cash in a hurry when problems occur.
Other common items to replace or fix include: boat seats, electrical devices, trailer lights, trailer tires, wheel bearings, batteries, and carpet to name a few.
If you’re looking to treat yourself to a new purchase, one of the best ways to do so is by buying a boat. If you’re an adrenaline junkie, you may be interested in Cost of Pontoon Boat Insurance in Philippines. But, how much does a speed boat cost? Below, you’ll find a complete breakdown of…