Agents and brokers may be offering a unique form of boat and yacht coverage. The cost and hassle of boat ownership, including slip and maintenance fees, don't add up to how often owners enjoy their vessels. .

Owners of mid-sized motorboats only use their vessels 50 hours per year, on average, according to Boat U.S., a trade organization. Yacht owners, on average, enjoy their investment an average of 75 hours per year.

Agents may provide coverage for "fractional ownership," programs that are becoming more popular. These companies allow 4 to 8 people to become part-owners of a boat, in effect forming a limited liability company. The boat owners pay a professional management company to take care of all the boat ownership hassles. There are various levels of commitment--from 1 month to 3 years or more--during which time owners know they'll have a boat available to them.

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