Boat Owners Intend To Sail On Despite Gas Prices

Boat owners say rising gas prices this summer will not affect their plans. However, according to a new survey, higher prices make it easier to strangle them more often.

 

Like other motorists, boat enthusiasts also indulge in high fuel prices — especially those who pay a premium for gas in the marina. But many boat owners point out that gas prices will almost double before they change their lifestyle and are willing to "pay to play".

 

The Brandware Group, Inc. A survey conducted by Nationwide Mutual Insurance found that two-thirds of boat owners report higher fuel prices, making them less likely to use their boats. In fact, boat owners are willing to pay around $ 2.70 per gallon for fuel before docking their boats.

 

“When we talk to our customers about boating, when they are concerned about rising fuel prices, we find that their passion for their boats overcomes those concerns,” said Greg Blanchard, Vice President of Nationwide Specialty Products.

 

Last summer - almost 20 times - the survey found that boat owners wanted to stay on the water, but their engines were expected to run for less than 25 minutes per trip. Sailors surveyed said 28 percent of their total leisure time was spent on water.

 

Since high fuel costs put a strain on boat owners' wallets, experts say boat owners need to make sure they have proper protection from the unexpected, so that they are not affected by heavy repair or replacement costs.

 

"Protecting your investments by making sure you are insured for value is an important step in protecting your lifestyle," Blanchard said. "Lack of money really touches the house if anything happens and you do not have enough insurance to repair or replace your child."

 

According to the survey, one in every five powerboat owners and one in three bossboat owners are uninsured for their boat. About 35% of insured people have no liability coverage. Nearly 40 percent of electric boat owners and 53 percent of boatboat owners have no collision coverage. One in five powerboat owners and a quarter of all bass boat owners take advantage of their opportunities rather than paying to fully insure their boats.