As Gas Costs Rise, Travelers Insurance Gives Electric Boaters a Break
As gas prices quickly rise and boat owners are looking for ways to improve fuel economy, electric powered boats are quickly entering the market.
Travelers Insurance has stepped it up and has been the first insurance company to deliver an insurance discount to electric boat owners. The Hartford, Conn. based company said it's electric boat discount of up to 10 percent is the first of it's kind in the industry.
Travelers defines an electric boat as a vessel 100 percent powered by a propeller driven, electric, in-board source where utility power is stored on board.
According to Travelers, most electric boats cost between $1 and $2 to fully charge for 10 or 12 hours of cruising time. This translates to about 10 cents to 12 cents per hour to operate. The marine industry estimates that conventionally fueled boats use about one gallon of fuel per hour for every 10 horsepower, while diesel engines consume about one gallon of fuel per hour for every 18 horsepower.
Travelers also stated that an analysis of fuel costs at 13 marinas around the country found that their prices were about 78 cents per gallon more than the national average for automobile gasoline and about 42 cents per gallon more than the national average for auto diesel fuel.
Please give us a call or send us an email if you would like any additional information regarding this exciting program. With a quick phone call and some operator and boat information, we will be happy to provide a quote!
