It's usually one of the first questions boat owners ask:
"Okay, Terry. How much is this going to cost me?"
Fair question.
Unfortunately, there isn't one price for a Marine Service Contract any more than there's one price for a boat.
The cost depends on what you're protecting.
Your boat's age, engine, horsepower, value, current hours, type of propulsion, coverage level, deductible, and length of protection can all affect the price.
Protecting a relatively new single-engine center console isn't necessarily going to cost the same as protecting an older boat with twin high-horsepower outboards.
And it shouldn't.
Here's what I tell boat owners: don't look at the price of protection in a vacuum.
Compare it to the potential cost of the repair you're transferring away from yourself.
Modern marine engines are impressive pieces of equipment. They're also complicated.
Computer-controlled fuel systems, electronic throttle controls, sensors, steering components, cooling systems, lower units, and internal engine components mean today's repair isn't always somebody replacing a $30 part with a wrench.
Sometimes the diagnosis alone takes significant labor.
That's why shopping strictly for the cheapest service contract can be a mistake.
Instead, ask:
What am I getting for my money?
Review the covered components. Check the deductible. Understand the term and limits. Look at exclusions and maintenance requirements. Most importantly, understand how claims are handled.
A cheap contract that doesn't provide the protection you expected isn't a bargain.
Neither is paying for coverage you don't need.
The objective should be finding the right balance between price, protection, and your personal tolerance for unexpected repair bills.
Think about it this way.
Most boat owners know what they're going to spend on fuel, storage, maintenance, insurance, and registration.
It's the unexpected $3,000, $5,000, or larger repair that can wreck the boating budget.
A Marine Service Contract allows you to plan for some of that uncertainty.
Because the best money you spend on your boat is the money that helps you keep using it.
Less worrying about repairs. More time worrying about where the fish are biting.
That's boating.
— Terry Torline