Owning a boat or yacht is exciting and fun. You get to cruise in sunny, warm places. You can hang out with family and friends in new destinations. And you can enjoy everything from wakeboarding to sightseeing in destinations that other people can’t get to from land.
The process of buying a boat or yacht can be complex. Finding the right boat, determining availability, pricing out insurance, and ensuring that you have financing in place can be a lot. But with the right team and support behind you, your excitement for your new boat builds and builds as you get closer to your next adventure.
Newcoast—a 20-year-old company with a team that has decades of experience—specializes in financing and insurance for yachts, boats, and RVs. Newcoast’s mission is to help boat and yacht buyers get to the adventure faster. Its team is a one-stop shop of expertise in marine financing, insurance and more, all set up to reduce wait times and help clients overcome all the hassles.
“We have a two-minute pre-qualification process for boat financing, with loan approval as fast as 24 hours,” Newcoast president Mike Hoffman says. “We have a free loan calculator that anyone can use on our website. And we work with a large network of top insurance carriers, so we make it easy for clients to find smart, affordable options for coverage tailored to their boat and their boating lifestyle.”
Newcoast’s expertise in yachts, boats and RVs is invaluable to anyone trying to close a deal quickly. It doesn’t matter whether you’re an individual, a couple or a corporation; Newcoast eliminates the need to go to multiple companies to get multiple quotes for financing and insurance.
“This is especially important given the current state of the boating marketplace,” Hoffman says. “Coming out of the pandemic, there are a lot fewer boats immediately available than there used to be—new or used. Having your financing and insurance paperwork sorted out quickly gives you an advantage as a buyer. You’re ready to close the deal at the best rate while other buyers are still checking various companies for rates.”
With financing and insurance, Newcoast’s access to multiple carriers is key. Boaters are not cookie-cutter people. All kinds of boats can be used in all kinds of destinations by all kinds of people. There’s a big difference between, say, a 30-foot center-console that a father and son will use for local fishing on the Chesapeake Bay and a 130-foot motoryacht with a crew that a multigenerational family will use for cruising down the East Coast to the Bahamas and Caribbean.
There are also factors with boats that only marine-industry experts will even realize are important to consider when choosing financing and insurance. Maybe you’re looking to buy an eight-year-old yacht, but it has newer engines that are only four years old, and the previous owner did a helm refit with new electronics that are only one year old.
All those different warranties—from all different manufacturers—can matter to insurance companies, in particular. And insurance brokers that a client has worked with for years might not even think to ask about them. Even the best brokers for homes, businesses, and other assets might not be used to the marine space, making it hard for clients to get the best loan terms and insurance policies on boats and yachts.
“Newcoast’s team specializes in boats, yachts and RVs,” Hoffman says. “This level of expertise makes a big difference for our clients in terms of financing and insurance. Not only can we help with getting the best rates, but we can also make sure the client is getting the best terms for their particular vessel and cruising plans.”
Maybe those plans are for a jaunt from Seattle out to the San Juan Islands in a motoryacht, or for an attempt at the Newport Bermuda Race in a performance sailboat, or for a cruise around America’s Great Loop in a trawler yacht.
“Whatever adventure you have in mind, Newcoast can get you to that adventure faster,” Hoffman says. “It’s who we are and what we do. Our customers are more than just a number, and helping them achieve their ownership dreams is what we aim to do every day.”
To learn more about Newcoast’s services, visit newcoast.com or call 866-639-2627.