Frequently Asked Questions

Read below for commonly asked boat owner related questions

~ How much money can I make chartering my boat?

That depends on the boat and whether or not you are a Licensed Captain… Boat Owners set their own rates (with the guidance of Anchor if needed). Here is a sample scenario to help you do some math:

8 Boat Rental (paid to Owner): $1500.00

Captain Pay (paid to Captain): $400.00

Crew Pay (paid to Mate or Crew): $150.00

Charter List Price: $2665.00

*A general rule of thumb is that you will end up making approx. ½ (50%) of the rental rate you set depending on the boat. 75% if you are also a Licensed Captain*

*Anchor pays the Captain 2 additional hours of service for cleaning, preparation, putting her to bed, documentation, etc. In reality, the Captain is going to put more time in than that, so this is money well spent.

~ Can I set my own schedule? Blackout dates? Etc.

Yes. You can choose to have access to your boat whenever you want. Anchor will never require you to make the boat available.

Bookings and the amount of money you make will be directly affected by the availability, of course.

~ Will my boat be insured by Anchor?

Anchor provides a general liability policy for every charter, however, we require our owners obtain some form of commercial policy which allows chartering. Anchor does not cover the hull damage to your vessel. Passengers can purchase additional insurance for their charter but are not required to do so.

Anchor allows private boat owners to start their new (or improve their existing) charter business. While we do provide more insurance than most, we are unable to prevent your private insurance policy from being void if you do not inform your underwriter that you will be doing light charters.

Please refer to the Boat Owner Agreement for more details. Anchor is not a party to the charter.

~ Who will be the Captain & Crew?

You will meet USCG Licensed Captains (aka “Anchor Captains”) that have experience on all types of vessels. Anchor provides a large roster of Captains for you (and your renters) to choose from. Each with their own specific skillset and strengths.

If you want to maximize your earnings and legally allow up to 12 passengers + Captain & Crew on board, It is required that you give your renters a choice of which Captain to pick from. Anchor recommends that you have a roster of at least 3 Captains for selection.

~ How do I know the Captain has experience driving a boat like mine?

Every boat on this blue planet is different… they all have their kinks and nuances. The only way to assure someone is properly qualified to drive your boat is to invite them on board to do so… under your supervision or Anchor’s… this is a perfect opportunity to get the photo shoot complete (for your listing) and evaluate the sea worthiness of your boat.

Anchor achieves this in a number of ways depending on your availability, location and level of involvement. Set your 30 minute consultation to determine what process is best for you here

~ How can I generate more rentals (make more money)?

Anchor sets you and the Captains up with everything you need to start a successful charter business. Anchor also does a lot of work getting the brand “Anchor” out there which increases the level of trust associated with our “listers” (you).

There are many things you can do to add rocket fuel to your new/existing business. Each boat is given a specific listing page and URL. Sharing this URL on social media, emails, texts, attaching the URL to flyers, rental property listings, etc will increase your business.

Also, Anchor may feature your boat as the “featured boat of the week” and run promotions occasionally. All promotions are on Anchor’s dime. We like to think of our community as a group/team-effort and expect that notion to be reciprocated.

~ What if my boat breaks down or has mechanical issues?

Boat Owners are responsible for mechanical upkeep and fixes. Normal wear and tear as a result of the boats age, hours, usage, etc are the sole responsibility of the owners. Boats break… we all know the saying(s).

However, one of the many advantages to chartering your boat with an experienced and Licensed Captain is having the extra set of eyes and ears on board the boat frequently. Your Captains will report anything they notice from small cosmetic fixes to early detections of potentially troublesome mechanical issues. Catching something early can result in significant financial savings.

Remember, a boat not being used is a boat that is breaking. Check out this article on the top 10 reasons boats break down: Top 10 Reasons Boats Break Down

~ What if my boat is damaged on a Charter?

Passengers (aka Renters or Charterers) are responsible for cosmetic damage caused to the interior and/or exterior of the boat in most circumstances up to the amount of their security deposit. In some cases, if the Captain was grossly negligent, the Captain may be responsible for damages to the boat. However, in most cases, the boat owner is responsible for damage to the vessel and Anchor highly recommends that a charter policy be in place at all times when using Anchor's Services. Anchor is not a party to the charter and acts as the broker of record only. Anchor is not responsible for damage to the vessel in any way.

Captains on your roster are Freelance Captains, not employees. And by having a Captain on your roster, you are approving that Captain to be selected by the Charterer (customer) for hire to operate the vessel for charter operations. We ask that customers are cautious and respectful to your boat and every customer signs off on Anchor’s Code of Conduct, Charter Agreement, Rules, Waiver, and Captain Services Agreement (when applicable).

ProTip: Posting small signs on the boat can help reinforce boating etiquette, cleanliness, and prevent damages.

~ Can I drive my boat instead of an Anchor Captain?

Only if you have a USCG Captain’s License and only if you are not the legal owner of the vessel.. Anchor uniquely offers you the opportunity to obtain your Captain’s License if you wish through our own proprietary software called Anchor Academy. To learn more about obtaining your Captain’s License through Anchor Academy, click here. Renting your own boat out and driving without a Captain’s License is strictly forbidden on the Anchor platform.

~ Is it healthy for my boat to be chartered?

Ask any mechanic and they will tell you that a boat that is just sitting, is breaking. In other words, not using your boat is costing you more money than you think… so why not make money while someone else uses it? Your boat will have a longer life cycle, stay cleaner, run better and ultimately save you time and money being part of the Anchor program.

Many Anchor Captains are even capable of doing some basic mechanical work like fluid changes or swapping out navigation lights. The goal is to keep your boat ready for use… meaning you and your family & friends can hop on the boat and just go, headache free, when the boat is not being rented/chartered.

~ Do I need to change anything about my current insurance policy?

That depends. Many owners already have Charter Insurance. If this is the case, then you will qualify to be a part of our program. If you do not already have Charter Insurance, Anchor can help you.

Anchor has multiple insurance resources that can help you affordably add Charter Insurance to your private policy. Owners typically make up the additional premium in their first 1 - 3 charters.