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Being a boat owner, how much does it cost over 1 year ?

Here we are, you have finally acquired the boat that will make your boating heart skip a beat. You already imagine yourself discovering new landscapes and meeting new people. And you are right !

However, as any good boater who loves his boat, you suspect that it will have to be maintained... And so you would like to know how much its maintenance costs per year ?

The price of boat maintenance depends on many factors such as year, make, model, size, power etc. Unfortunately, many people overlook these factors that affect the annual maintenance price before they even purchase a vessel.

Are you concerned ? Well, Boatngo is here to help you catch up with this article in which we will give you a rough idea of how much it costs to maintain a boat for a year by assigning the highest criteria to the price-determining factors.

Moreover, you will be able to anticipate scams with overpriced services.

First, we will try to determine the costs related to maintenance. Then, we will determine the other miscellaneous costs.

In the meantime, if you would rather know all the essentials for the proper maintenance of your vessel, you will find the answer here !

Table of contents

Costs related to maintenance 

You may have heard it before, they say that the cost of a boat over a year is about 10% of the price of the new boat. This is not entirely true as it is a fairly broad estimate. If you do it right, you can reduce your costs considerably.

However, it is the part of boat maintenance that is the most expensive. Obviously, it depends on several factors such as the type of boat, the brand, the year, the model and the size. For example, a 10-meter boat will be less expensive to maintain than a 20-meter boat, which is logical !

For this article, let's take as a reference, a boat of 11 meters with a double inboard motorization of 300 HP.

Costs also vary depending on the type of boater you are and how often you use your boat. Indeed, the more you use your boat, the more the hull wears out and requires a refit and an antifouling. In this case, you can count on an all-inclusive price that goes up to 1000 euros.

Then comes the price of the engine overhaul. The price depends on the type of engine (inboard or outboard) and the length of time the boat has been used (on the logbook). You can expect to pay up to 800 euros.

Finally, there are the expenses on the equipment on board. It is mandatory to have up-to-date safety equipment. For example, you will have to check the expiration date and replace if necessary the distress flares or the life jackets.

Also note that according to the list of all mandatory equipment on board (Division 240), it is mandatory for boaters sailing more than 6 miles from a shelter to be equipped with a life raft. The liferaft costs between 1000 and 2000 euros and it must be checked every 3 years at a price that can reach 500 euros.

Various costs

Let's start with the obvious: fuel. Its price depends mainly on the characteristics of your boat such as its weight, size, engine, consumption and type of fuel. Be careful, your attitude plays an important role, since it influences the consumption. For example, if you often travel at full power, you will have to refuel quite frequently.

There are fees related to your berth that vary depending on the location of the port, the size of your boat, whether you are in port or at anchor, afloat or dry, etc. In this case, it makes more sense to winterize your boat on dry land if you only use it during the summer season or to take out an annual harbor pass if you use your boat more frequently.

The price of mooring can quickly increase depending on your parking area and the port. Generally prices are higher in the South, especially in the Alpes-Maritimes. For example in Cannes, prices go up to 8000 euros per year.

Finally, it is mandatory to take out civil liability insurance. It varies according to several factors such as the navigation area, the types of coverage and the different responsibilities. The price of a comprehensive insurance can go up to 2000 euros.

What you need to remember

Finally, according to our estimates, based on a 12-meter motorboat, the annual cost is about 11,300 euros. This cost estimate takes into consideration only the "mandatory" maintenance and excludes contingencies.

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