Originally Posted by ObiWanSand
Thank you, Rabbi
Anyone else have anything to share as far as annual insurance fees
Much appreciated if you do!
Our Lagoon 420
costs about 1500 euros to insure each year. In 2007, when the boat was new, it cost about half as much again, partly because the boat was new, but also because our cruising waters included two Atlantic ocean
crossings and sailing South of Gibraltar
(both pushed up the prices). There may also be other restrictions, such as crossing the Bay of Biscay before the end of September.
New versus Old is a difficult decision, but I can promise you that nothing (and I mean nothing) will compare with the sense of achievement from sailing across the Atlantic in your own brand new boat. I speak from experience.
Remember, if you intend to return to the EU, having reclaimed VAT on leaving, to choose your port of return with care. We reclaimed VAT at UK rates (then 17.5%) on the new purchase price
(including all options) and re-imported the boat in the Azores
at the then rate of 15% applied to the deemed resale value of the basic boat (not including options) - a substantial reduction on purchase price
. This saved us a lot of money
We were only able to reclaim the VAT after arriving at a port outside the EU VAT community. There may be a time limit from the date of purchase to the date of arrival at the non-VAT port (eight weeks in our case), which may put pressure on your timetable. Also, you may need the cooperation of the port authorities in your arrival port to provide evidence for completion of the VAT reclaim paperwork, something you cannot assume. We chose Gibraltar
as our non-VAT port of arrival and everything went smoothly, but it could easily have gone wrong.