Financing/insuring a liveaboard.

[JakePurvis]

Hi everyone!

I’m posting this on my phone so I apologize for any formatting errors.

I’m a 25 year old man from the great hot land of Tampa, Florida, USA. I travel for work on the coast and almost never return to my apartment except on weekends. I have spent a great portion of my life on the water (fishing, scuba, cruising, etc), but have never technically lived on the water. I have done over a year of research on boats, living on the water, the lifestyle, etc. I have made the decision to buy a Ranger Tug and trailer it around to wherever my work is (I stay 2-4 months at a time on one project.)

I have done research and talked to a few people but I still feel like there’s more to learn about the subject. Do any of you have any advice or information on financing/insuring a full time liveaboard? I have excellent credit and roughly $50,000 saved.

 

[scross]

Regarding financing, I highly recommend Mr. Michael Jenkins, Vice President, Trident Funding 206-721-7704 - Office.
Give him call and discuss your situation and what you are thinking about doing. His firm does a lot or Ranger Tug funding.
Very rough ballpark here but expect payments of about $7.50/month per $1,000 borrowed on a 15 year loan depending on your credit, etc, etc.....
I'd also recommend a pre-owned Tug to avoid that big initial depreciation hit when buying new. Good luck!

 

[JakePurvis]

Thank you! I just sent him an e-mail. I hope to be a part of the family soon!

 

[NorthernFocus]

We lived aboard for several years. When we did it financing and insurance were no different for live aboard than for any other boat. You can right off the loan interest but many people do that anyway by calling the boat a second home.

 

[Brian B]

A couple of things to keep in mind regarding live aboards at FL marina's. Some marina's do not allow live aboards, some will charge more if you do, and some are now charging a minimum of a 3 month stay. I just experienced this in FL.
You state you want a trailerable tug, now you also need a truck that will handle the boat then storage of the truck and or trailer. It all adds up fairly quickly.

 

[JakePurvis]

A couple of things to keep in mind regarding live aboards at FL marina's. Some marina's do not allow live aboards, some will charge more if you do, and some are now charging a minimum of a 3 month stay. I just experienced this in FL.
You state you want a trailerable tug, now you also need a truck that will handle the boat then storage of the truck and or trailer. It all adds up fairly quickly.

I’ve done some research regarding the liveaboard policies at the marinas and I believe I might be able to make that work. Very good point.

I have a 2017 F-250 4x4 and have towed much heavier than the standard RT.

I appreciate your advice!