Guide To Chartering a Yacht

Yachts were designed so boat and aquatic lovers alike could undergo a one of a kind maritime experience. There’s a certain essence of luxury that comes with sailing a yacht, which is ultimately what entices people to either rent or own one. Traveling by water to explore new land is an incomparable experience. However, owning a yacht does come with a high price tag, which is why more boat-goers have opted into yacht charters and yacht rentals.

The world of yacht rentals and charters is a vast one. While there’s an array of different rental options to choose from, yacht charters tend to fall into three distinct categories: bareboat charter, cabin charter, crewed charter.

Bareboat Charter: Bareboat chartering essentially mirrors renting a yacht. No crew or materials are provided, and all required amenities fall to the individuals chartering the boat. During the duration of the sail, you remain legally and financially responsible for ship. In other words, those who opt in to a bareboat charter act as their own captain. The responsibilities, well-being and maintenance of the boat falls to no one else but the individuals on board.

Crewed Charter: Crewed chartering is the antithesis of bareboat chartering. The amount of responsibility is incredibly lessened and you merely sit back and relax while the captain and skipper assume all roles. While crewed charters do allow participants to work on the ship, it is not mandated and a crew will be provided nonetheless. For those who are taking a leisurely approach to yachting, this option would appeal to them.

Cabin Charter: Cabin chartering is a balance of both crewed chartering and bareboat chartering. In this option, you play a role as an active crew member while the skipper operates the ship. You get to partake in the sailing process while the captain tends to your meal needs and maintains the ship. This charter experience is a perfect blend of sail boating experience and leisurely activity.

Yacht Rentals Vs. Yacht Charters

While yacht rentals and yacht charters are presumed to be the same thing, there are certain stipulations that set them apart.

Individuals who rent yachts, much like those who choose bareboat charters, assume full responsibility of the boat and its working conditions during their sea travels. Moreover, yacht renters generally rent from a private owner as opposed to going through a company who specializes in that field. While charter services assign a ship, renters can seek out a yacht based on their preferences. For those who are well-versed in the realm of maritime travels, renting a yacht is the desired route for sailing the seas.

Yacht Ownership

When it comes to owning a boat, the rules of ownership are ever-changing. If you’re born after this date, you need a license, if you were issued a license X amount of years ago, you need to get it renewed every two years, so on and so forth. With so many rules tied to boat ownership, it’s best all potential yacht owners invest in a boating license. This also tells insurance companies that you’re qualified and they’re not at risk by insuring your ship.

Obtaining a boating license, locking into an insurance company, and allocating the funds for the purchase are the predominant requirements for yacht ownership. While the purchase itself may sound simple, there are a lot of moving parts that go into selecting a ship.

Yacht Rates

No two ships were created equal. From docking fees to the price of the yacht itself, this investment requires more than just pocket change. The size, manufacturer, renovations, level of luxury, down payment, insurance, year built, and docking station are all factors that will dictate the yacht fees. Yachts can run anywhere from $900,000 to well into the millions. With new yachts being priced at such an astronomically high price, most budding captains veer towards used yachts.

New vs. Used

Much like cars, the longer a yacht has been owned, the more it will depreciate. Used boats appeal to those that may want to fully commit to a yacht, but don’t have the funds to make it a long-term investment. The general rule of thumb is that new boat purchases work out best if the purchaser intends to keep the ship longer than four years. When deciding on either a new or used yacht, ask yourself whether you have the necessary funds to purchase a new yacht and how long you wish to keep the purchase before reselling

The experience of yachting is one that can’t be matched. Whether you’re looking to charter, rent or own, it’s always important to know what you’re putting your money into before moving forward.