Careful research required before purchasing an extended warranty for boats

An extended warranty may overlap with your manufacturer's warranty.

For most boat owners, their vessel is their most valuable possession outside of the house or car. As a result, it's tempting for these individuals to consider purchasing an extended warranty that will cover engine and hull repairs for several years after they buy the vehicle. If you're in the market for a new boat you may be wondering if these warranty agreements are worth the investment, or are they loaded with caveats that make them almost useless when you need them the most?

The answer is that it depends. The value of your warranty is dictated by a number of factors:

  • Deductibles: Higher deductibles typically mean that you get less coverage, though the premium or cost for your warranty will be lower. It also means that you'll be paying more out-of-pocket expenses for any repairs.
  • Overlap with manufacturer's warranty: There's no point in purchasing an extended warranty that coincides with your manufacturer warranty, unless the former provides coverage for certain fixes that the latter does not.
  • Transferability: If you ever sell your boat, it'll fetch a higher price if it's under warranty.

As BoatUS.com points out, many of the problems that are covered by extended warranties will show up within the time period of the manufacturer's warranty. It may be a bigger gamble than it's worth to put down the money for an extended warranty if you won't end up using it.

It's also important to remember that these warranties typically don't cover your chartplotter and other electronic items that you add to your boat after you buy it. However, you can rest assured that when you purchase these components from ePal, they come with manufacturers warranties, as well as our 30 day return policy.

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