Boat Owners Intend To Sail On Despite Gas Prices
Below is a MRR and PLR article in category Vehicles -> subcategory Boats.
Boat Owners Determined to Sail Despite Rising Gas Prices
Summary
Despite soaring gas prices, boat owners remain resolute about their summer plans, although a new survey suggests they will be more mindful about throttling back.Article
This summer, boat owners are determined not to let high gas prices anchor their plans. A recent survey, however, reveals that they might ease off the throttle a bit more than usual.While high fuel costs are affecting all motorists, boaters are particularly impacted, especially given the premium at marina pumps. Yet, many are willing to "pay to play," insisting that gas prices would need to nearly double to alter their lifestyle.
The survey conducted by The Brandware Group, Inc. for Nationwide Mutual Insurance found that two-thirds of boat owners aren't planning to reduce their time on the water. In fact, they'd tolerate a gas price hike of about $2.70 per gallon before considering docking their boats permanently.
Greg Blanchard, Nationwide's Vice President of Specialty Products, noted, "Our customers express concern about fuel prices, but their love for boating takes precedence."
The survey also indicated that while boat owners plan to hit the water as often as last summer?"around 20 outings?"they expect to run their engines about 25 minutes less per trip, spending 28 percent of their leisure time afloat.
Experts suggest that with rising fuel costs impacting finances, boat owners should ensure they're adequately protected against unforeseen events to avoid hefty repair or replacement expenses.
"Safeguarding your investment with proper insurance is crucial for maintaining your lifestyle," Blanchard advised. "The financial strain is significant if something happens and you're underinsured."
Alarmingly, the survey highlighted that one in five power boat owners and one in three bass boat owners lack insurance. Among those who are insured, around 35 percent don't have liability coverage. Moreover, 40 percent of power boat owners and 53 percent of bass boat owners lack collision coverage. A noticeable fraction?"one in five power boat owners and a quarter of bass boat owners?"prefer to take risks rather than fully insure their vessels.
You can find the original non-AI version of this article here: Boat Owners Intend To Sail On Despite Gas Prices.
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