Estimated costs for a 50-foot boat are as follows:
|Things to consider||Cost per annum|
|Navigation Authority Licence||£750|
|Insurance on £20,000||£250**|
|Hull blacking (bi-annually)||£300|
|Fuel (100 hrs)||£200|
* Marina moorings can be considerably more in the South East of England. Residential moorings may cost up to 30% more than standard moorings.
** Insurance for residential boats is normally no different than for leisure boats, but residential boaters should take out a separate policy for personal possessions.
*** Older boats may require considerable one-off expenditure eg. on engines or hull repairs.
This will give you normally 52 weeks use of your own boat, compared to the cost of a typical hire boat charge of some £750 per week (off-season) to £1,200 per week (peak-season).
In order to spread the cost, one option would be to share ownership in a boat. In this instance up to 12 or so people have a share in the vessel, which is maintained by a separate company.