Frugal Sailboat Strategies

Cheap, Cost-conscious, Frugal or Stingy. This author gets to enjoy just about any synonym for “thrifty”. Although seemingly intended as an insult, it is usually happily accepted as a compliment.

The Sailboat

Starting with the sailboat itself, the number one contributor to a sailor’s expenses is the size of the boat. Typically (All else equal), the purchase price goes up in parallel with a boat’s LOA. After the purchase, higher mooring, winter storage, fuel, maintenance and insurance costs, all contribute to overall higher expenses.  The number one frugal sailboat strategy is to purchase a boat that gets as close to ideal as possible, while remaining as small as possible. A well chosen 26 foot cruiser can in some cases offer a similar quality experience as a 30 footer, while requiring a significantly smaller budget.

Example Calculation Showing the first year’s total cost for a 26 and a 30 footer respectively. Prices are based on modest but “ready to sail” boats. note that a survey is not required by most insurance companies for a 26 footer and can very often be covered under your home insurance policy.

Watch Episode One; The Boat, On YouTube

Mooring and Storage

Mooring and winter storage are the biggest expenses after purchasing the boat. In some cases it can be a bigger annual expense than the purchase price. (Meaning the purchase phase was a frugal success.) Compare all options within your desired area. Marina costs vary greatly. Ensure to include all costs in your calculations. Haulout, Launch, Unstepping, Stepping, Pressure wash, mast storage, Shore power, etc. are often charged separately.

Yacht clubs can be lower cost options while sometimes offering additional benefits and amenities. A club can be a more frugal choice particularly if you are committed to several years in the same place, thus spreading the “Initiation fee” over multiple years. (Not all yacht clubs charge this fee.) Keep in mind, some of the savings in actual cost, are offset by mandatory “volunteer work hours” which vary from club to club. Many clubs also have reciprocal agreements with other clubs, meaning free or very cost-conscious guest mooring when cruising to those destinations. Although we list acquiring the boat first, it is essential to ensure that mooring is arranged before you buy the boat. There are times when available slips are few and far between and many marinas and clubs won’t admit your less than impressive old boat from 1972.

Insurance

Warning! This is NOT a simple step in most cases. (Unless you qualify for coverage under your home insurance policy.) “Do I have to have insurance?” -you may wonder. The answer is; it depends. In North America it is almost 100% impossible to arrange any mooring, permanent or as a guest, without adequate liability insurance. Sometimes above $2M liability is required. Insurance can be as little as $40-$50 per year if your boat qualifies to be insured under your home insurance policy. In most cases this means Max 26 feet LOA and no more than 50 HP motor.

The majority of us will require actual marine insurance. The cost range varies from a few hundred dollars to closer to the $1000 mark. The first question you will hear when you call to inquire is; do you have a recent Survey? A survey is a report on your boats condition, seaworthiness and above all; safety. If your survey reveals any significant shortcomings in these areas, it is not likely that your application will be accepted. Any such issues must be rectified. Sometimes the insurance company will accept photo proof of such repairs. Other times they will require a new survey. Expect to pay anywhere from $400-$800 for the survey of a 30 foot boat. Haul out cost is additional if the boat is in the water. Some surveyors offer a discount on a re-survey if required. There are a handful of insurance companies that will accept pictures in lieu of a survey if the boat is less than 30 feet. Others may accept a written guarantee that shortcomings in the original survey have been addressed. Be prepared to call many Insurance companies and agents. This is NOT a trivial step!

Maintenance and repairs

I cannot stress this enough; learn as much as possible and develop the skills to perform on-going maintenance yourself. “Winterizing” and “Summerizing” the plumbing and engine as well as connected systems are time consuming tasks, but not difficult. Not only is there incredible savings to be had, but also piece of mind as competent marine mechanics are few and far between and very busy during “winterizing” and “summerizing” time. The same can be said for most repairs. Sailboats are mostly simple and logical contraptions. Most repairs can be performed by the owner if sufficient preparation is performed. There are videos on YouTube covering just about any service task on a boat.

Procure Replacement Items or Repair?

Sails can be repaired, thus extending their useful life. There are lots of ways to perform smaller sail repairs yourself without needing any particular tools or equipment. Once a sail has reached the end of its service life and needs to be replaced, there are many sources of used sails in various conditions and price ranges. To enjoy the largest selection, avoid looking for sails specifically for your boat and instead look for sails with the same dimensions, or close. A headsail can be replaced with just about any other headsail as long as the luff is the same length and type. (Shorter luff works but will reduce sail area.) The same applies to the mainsail except the foot must also be the same length (or shorter) and of compatible type. (Not necessarily the exact same, as most booms will accommodate a loose footed sail even if not designed for one.)

Parts for most any system on the boat can be found both new and used and many can be modified to suit the purpose even if not ideally intended. Many items for cars can be substituted for the marine part at substantial savings.