Running Costs of Owning a Boat

Estimated costs for a 50-foot boat are as follows:

Things to consider Cost per annum
Navigation Authority Licence £750
Marina mooring £1800*
Insurance on £20,000 £250**
Hull blacking (bi-annually) £300
General maintenance £500***
Fuel (100 hrs) £200
TOTAL £3,800

* 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.

Owning vs Hire Boating

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).

Shared Ownership

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.