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post #11 of 25 Old 02-11-2008
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Originally Posted by T37Chef View Post
When I looked at Progressive, they wouldn't even insure a boat more than 20 yrs old?
Ditto and same with Boat US..

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post #12 of 25 Old 02-11-2008
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That's not true, my boat is 26 years old and its insured with BoatUS. Not only that but they just agreed to raise the agreed to value of the boat reflecting the improvements that I have made to the boat in the 5 years that I have owned her.

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post #13 of 25 Old 02-11-2008
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Oh...what the heck

another opinion for ya...

I have paid cash for all my boats (8 and counting) except my second one...I lost that one to repossession...end of opinion...
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post #14 of 25 Old 02-11-2008
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Originally Posted by PBzeer View Post
It can certainly be hard waiting, but in the long run, you'll be better off waiting until you can afford something bigger. A little self-discipline now, could save you from making a rash decision that you regret later.

Very true. Boat mortgages are stupidly expensive, and you already have a boat. Also, you will never make back on an old 30 footer what you paid for it, even if you do $10K of improvements, half of which are just to combat age-related problems.

Enjoy what you have, and maybe challenge yourself by racing it or going out in heavier weather than you are used to. A smaller boat is a better teacher in some ways.

The only other way to do this...maybe...is to partner up with someone similar, and then you'll just need half the purchase price.

The latest Practical Sailor compares the Pearson 30, the Triton 30 and the Catalina 30 as affordable "classic plastics". Even though I've been aboard Pearson and Catalina 30s, I think the Triton is the best boat, but that's because I'm focused on "all-weather sailing" and generally classic construction. Round-the-buoys racing and drinks in the cockpit? The Catalina 30 (the C&C 30 is even better, IMO). Weekend cruising? The Catalina 30 or the Pearson. Liveaboard with extended cruising? The Triton.

See how that works? There is no one answer. Eventually, you'll find a number of "good enough" boats that avoid the "wrong answers", but have subtle differences that will determine which is best for you.
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post #15 of 25 Old 02-11-2008
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BoatUS insured my 86 hunter for 260 a year, chesapeake bay.

My 2007 Gemini is around 1100 a year. Gieco wouldn't touch boats over 30 ft.
You really have to shop around.
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post #16 of 25 Old 02-11-2008
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For the record, I've paid cash for both our boats. On the other hand, we paid off our house in under eight years (by 2006), and it had doubled in market value, so we made a choice to take out a mortgage on it on a floating rate for $200,000 as a way to "capture dead money". Out of that we've renovated and bought the new boat, but we will shortly move aboard that boat and the renovations will lead to tenants that pay down the mortgage for us...plus I could pay off the house at any point now. So sometimes debt is a strategy: because I can't write off the boat as a residence (or as a place of business as I can my home office), I can live on the boat without paying "house tax", and claim my reno expenses as leasehold improvements, can write down my utilities, can write down my mortgage interest, and can still use my large garage as a storage locker/workshop "on shore". All legal, all good for me. All I have to do is not live at my "principal residence" (and buy an Espar heater...)

By contrast, I pay cash for all boat supplies and equipment and fees, insurance, club costs, etc. I carry no credit card debt. Needless to say, this took years of financial discipline to learn, never mind to achieve.

But if you don't even have $10-$20K to spare, you shouldn't buy a bigger boat.
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post #17 of 25 Old 02-11-2008
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I wanted to say

Vals last sentence but didn't have the guts..
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post #18 of 25 Old 02-11-2008
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I concur with the others. Save and pay cash. The boat will undoubtedly sail better when it's fully paid for. I want a bigger boat too, but want to avoid loans even more. So I'll stick with my aging 25 footer and enjoy knowing that it's all mine.

Catalina 34

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post #19 of 25 Old 02-11-2008 Thread Starter
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I want to thank everyone for their thoughts. This is exactly why I lurk here so much! I think I will practice fiscal patience for now and get out on my boat and learn and enjoy.
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post #20 of 25 Old 02-11-2008
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Good idea. If you want to maximize your 26 footer experience, consider new sails. But then I don't know what type of sailing you do...if it's just gunkholing around, you can let the sails get pretty crappy, but if you want to learn the limits of your boat's performance, end-for-end your halyards, service your winches and get decent sails (or learn how to use leech lines, outhauls, etc: see Giulietta's many videos on sail trim tips and techniques).
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