Here's a good question for you Guru's

[JETTYWOLF]

OUTBOARD MOTOR EXTENDED WARRENTIES.

EXAMPLE:

"me"

Honda 225 factory warrenty till October 2011 (total 5 years)

anyone familiar with purchasing additional warrenty coverage, again/or in addition to, after a 5 year Factory warrenty?

I had Interstate dealer warrenties one time out of NY on a Evinrude many years ago, and these people were GREAT, or either my mechanic was GREAT at getting me covered (??)

2 Powerhead / significant parts "re-builds", due to lack of lubrication....in a nut shell. Back then; $4,800 each time!!
1 new binacle
1 new oil tank assembly
1 wiring harness
1 stator
- They could have just gave me 2 New Evinrudes by that point!!

I have emailed Interstate to ask about coverage IE: years, terms etc. And cost of warrenty'ing a 5 year old Honda 225.

I'm thinking, wouldn't it be worthy to have coverage for at least 10 year, and or length of mortage for boat/motor??
I know I don't need boat coverage, but 5 more years on the Honda sure would be sweet, just incase.

Since a major failure of my Honda, while ******not covered"""" will put an end to my entire business and could have me stocking shelves at three different Walmarts 24 hrs a day just to live and eat. Let alone ending a 13 year reign as a Florida, Jettywolf.

[Chaps]

It pretty much depends on how much the premium is. If you maintain your stuff pretty well and take care of things before they get serious then the extra warranties usually don't pencil out (unless you know you've got a problem child motor). I think a better approach is to put the premium amounts in your own reserve account and you'll likely always be a little ahead of the game on the cost of major repairs vs. the warranty premiums. On the 225's the only catastrophic thing I've heard of happening is a water ingestion failure that wipes out the power head due to a faulty inexpensive component (of which I cannot remember exactly what the part was). One of the engines on the Maxcat I had experienced this after I sold it to Roger but Honda warranty took care of it. I think I would verify that your engine is outside of that problem group and/or replace that component that failed in some of those early engines. Other than that possibility I don't see anything major happening as long as you keep things up. OTOH, its your primary business asset and you should really be socking away a percentage of your gross to replace it periodically before it fails. That way you do it on your terms (offseason so no charter disruptions, take advantage of better pricing as available, existing motor can be sold at a much better price than if it is shot to hell, etc.)

[JETTYWOLF]

"you should really be socking away a percentage of your gross to replace it periodically before it fails"

Yeah, that would be nice I know. And a real Luxury.
Creativity, is what ya have to be good at, in this biz. Thats why I'm asking.

[peterbo3]

Dave,
Could you buy a backup motor, say a used 150 Honda, just to cover yourself if you had a major failure. Because the warranty is not going to keep you fishing whilst repairs are made. But you could change motors over in 3-4 hours.

[JETTYWOLF]

Shade Tree'in.......yeah Pete. I guess that's an option.

Yep, I've literally hung outboards off of a tree branch before, just to change the cable steering.

That would be called the Nascar, option. (NASCAR as defined, "not so stock car racing", here in the US.)