Boat Owners Intend To Sail On Despite Gas Prices

According to boat owners, high gas prices are not going to interrupt their plans this summer. New survey, even tell that, higher prices will have them easing off the throttle more often. The wake of high fuel prices-especially those who pay a premium to gas up at marinas has caught the boat enthusiasts like other motorists. Still, there are many boat owners who indicate they are willing to “pay to play,” saying gas prices would have to nearly double before they change their lifestyle.

The Brandware Group, Inc. for Nationwide Mutual Insurance, conducted a survey that indicated that near two-thirds of boat owners reported high fuel prices would not cause them to use their boats less often. They are even ready to pay about $2.70 more per gallon for fuel before they will consider docking their boats. The Nationwide’s vice president of Specialty Products, Greg Blanchard said,” When talking with our customers about boating we learned that while they’re concerned about rising fuel prices, the passion they have for their boats overrides those concerns.”

This survey also told that, the owners of boats intended to sail their boats just as often as last summer-about 20 times-but expect to run their engines about 25 minutes less per trip. The sailors surveyed said they spend 28 percent of their total leisure time on the water. According to the experts, they believe that with high fuel costs putting a strain on boat owner’s wallets, the owners must think about the right protection against the unexpected so they don’t get hit with burdensome repair or replacement costs. As Blanchard said,”Protecting your investments by making sure they are insured to value is an important step in protecting your lifestyle.” When something happens and you don’t have adequate insurance to repair or replace your baby, the money crunch really hits home.

In one survey, it has been noticed that, one in three bass boat owners and one in five power boat owners do not have insurance on their boat. Nearly 35 percent of those with insurance, don’t have liability coverage. The survey also shows that nearly 40 percent of power boat owners and 53 percent of bass boat owners don’t have collision coverage.
Around one in five power boat owners and a quarter of all bass boat owners will rather take their chances than pay to fully insure their boats.

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