What: The first company in the United States to offer fully insured peer-to-peer boat rentals. The company is described as a boater-to-boater rental and charter marketplace
Expected pay: $100 + per half-day for your boat; approximately $40/hour for captains
Commissions & fees: 35% (including insurance) or 15%, if you already have a commercial liability policy
Where: 2,100 waterways worldwide
Requirements: A boat; or appropriate certifications and experience to work as a captain; smart phone
Review:
PROS:
- Boat owners pay a 35% fee on each rental, provided that they use the site’s commercial insurance policy (which is underwritten by Geico Marine) – other competitor sites do not offer a commercial insurance policy, you are required to obtain your own policy
- Boats with Commercial Insurance or a Charter Insurance Policy pay a 15% fee/rental
CONS:
- Boatsetter charges processing fees on any additional payments processed on behalf of the owner or renter.
- Includes fuel, damage/security deposit payments, or other miscellaneous charges. The current processing fee is 2.7% + $0.55/transaction.
- The site holds a minimum of $500 per rental as a security deposit from renters, but owners can ask for a higher deposit.
- If there’s a claim, the renter’s security deposit will be used to pay the insurance deductible, damages, and fees.
- If a boat owner cancels a customer reservation, fails to show up, or the boat is not in acceptable condition, Boatsetter can impose a $100 fine
- Not much information could be found about the terms and pay to be a “captain”
