Why It’s Important to Know Your Boat Running Costs

Knowing how much it costs to run your boat is vital. It’ll help you budget, manage your money and time wisely, and keep on top of boat maintenance and services.

There’s no escaping that boat ownership can be expensive, but if you work out all the days out, holidays afloat and nights on board, it can work out very favourably compared to alternatives. Usually, it’s said that you should budget around 20 percent of the value of the boat to cover annual costs, and this is a considered a good ballpark figure to work off for many boat owners.

Here’s a few things that you will need to budget for when calculating your boat's running costs:

Moorings and insurance

New Call-to-actionMooring prices can vary considerably, depending on facilities. Prices can range from £500 to £6,000 every 12 months.

You can read our guide to the UK’s Best Mooring Spots here.

Insurance is a relatively inexpensive outgoing compared to other costs associated with running a boat and is significantly cheaper than for a car. It’s possible to get third-party cover from under £100 a year if you’re at the lower end of the market, while a yacht worth £100,000 can be as little as 0.5 percent of its value.


Get a quote for all inclusive boat insurance with GJW


Upgrading and replacing boat systems

This cost will vary from boat to boat and it can be difficult to predict the service life of different marine equipment. It’s advisable to do your research and write down how much the life expectancy and general costs of various boat systems such as; main engine, mast and boom, standing rigging, deck gear, upholstery, liferaft, lifejackets, electronics, teak decks, batteries, and anything else you may have onboard.


If you carry out routine checks diligently then you can save a lot of time and money with general maintenance costs. Routine examinations of your engine, rigging and sails enables you to spot the first signs of a problem before any significant damage is done. Repairs can be quick, simple and won’t break the bank.

However if you’re relying on a boatyard, marine engineer or sailmaker to carry out the work then you can expect to pay more.

Recording your running costs

Keep tabs off all your outgoings and expenditure with MyBoat, which will you show you an overview of all your monthly and annual running costs.

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