Ask ten boat owners what their "extended warranty" covers and you'll probably get ten different answers.
That's a problem.
A Marine Service Contract isn't designed to cover everything that can possibly happen to your boat. It provides protection for specific mechanical and electrical components according to the terms of the contract you purchase.
Depending on the plan, coverage may include major components associated with your engine, drive system, fuel system, electrical system, cooling system, steering, controls, and other covered equipment.
The key words there are "depending on the plan."
Marine Service Contracts aren't all created equal.
Some plans provide specifically listed component coverage. Others can provide broader protection subject to stated exclusions.
That's why I always tell boat owners:
Don't buy the brochure. Read the contract.
You want to know exactly what you're buying before you're sitting at the marina with a boat that won't start.
Pay particular attention to the engine.
For most boat owners, that's the big one.
Modern outboards and other propulsion systems contain sophisticated electronics, sensors, computers, fuel-delivery components, cooling systems, and expensive internal parts.
One significant mechanical failure can quickly remind you that marine stands for "bring another thousand."
Okay, maybe that's not the official definition.
But anybody who's owned a boat long enough understands the joke.
Also understand what a service contract generally isn't intended to replace.
It's not boat insurance.
It's not a maintenance program.
Routine services such as oil changes and other maintenance remain your responsibility unless specifically provided by the contract. Damage from accidents, misuse, neglect, environmental conditions, or excluded components may not qualify.
The smartest thing you can do is ask questions before buying.
What's covered? What's excluded? What's my deductible? Where can I have repairs performed? How does authorization work?
A good Marine Service Contract should give you something every boater appreciates:
Confidence.
Because when Saturday morning arrives, you should be thinking about weather, water and where you're headed.
Not whether you can afford to turn the key.
— Terry Torline