Boat owners say high gas prices will not sink their strategies this summer. According to a new survey, higher rates will have them reducing off the throttle more typically.
Like other motorists, boat lovers are caught in the wake of high fuel prices-especially those who pay a premium to gas up at marinas. However lots of boat owners indicate they are willing to “pay to play,” saying gas costs would have to almost double prior to they alter their lifestyle.
The study, conducted by The Brandware Group, Inc. for Nationwide Mutual Insurance, indicated that two-thirds of boat owners reported high fuel rates would not cause them to utilize their boats less typically. In fact, boat owners want to pay about $2.70 more per gallon for fuel before they will consider docking their boats.
” When talking with our clients about boating we learned that while they’re concerned about rising fuel rates, the passion they have for their boats bypasses those issues,” said Greg Blanchard, Nationwide’s vice president of Specialty Products.
The survey also revealed boat owners planned to be on the water just as typically as last summer-about 20 times-but anticipate to run their engines about 25 minutes less per trip. The sailors surveyed stated they spend 28 percent of their overall free time on the water.
Professionals state that with high fuel expenses putting a strain on boat owners’ wallets, boat owners need to make sure they have the ideal security versus the unexpected so they do not get struck with difficult repair or replacement expenses.
“Protecting your financial investments by making certain they are guaranteed to value is a crucial action in securing your way of life,” stated Blanchard. “The loan crunch really hits house if something takes place and you don’t have sufficient insurance to repair or replace your baby.”
According to the survey, one in five power boat owners and one in three bass boat owners do not have insurance on their boat. Of those with insurance, about 35 percent don’t have liability coverage. About 40 percent of power boat owners and 53 percent of bass boat owners don’t have crash coverage. About one in 5 power boat owners and a quarter of all bass boat owners would rather take their opportunities than pay to fully insure their boats.
According to the survey, one in 5 power boat owners and one in three bass boat owners do not have insurance coverage on their boat. About 40 percent of power boat owners and 53 percent of bass boat owners do not have accident coverage. About one in five power boat owners and a quarter of all bass boat owners would rather take their possibilities than pay to completely insure their boats.