There is just something about peace of mind.
After a proven track record of 50 years of loyalty to owners, there is a reason why The Moorings says Guaranteed Income with confidence. This guarantees that the buyer of a yacht will receive an on-time payment every month that the yacht is in the fleet, regardless of charter activity. But what this also means is that The Moorings promises to fulfill your owner payment each month even if your yacht has been damaged and is out of commission for repairs.
Will I get payment if my yacht is out of service?
In the event of a natural disaster, let's say your yacht has sustained damage and she is taken out of charter to complete the repairs. Whether your yacht is undergoing repairs for one month or one year, the checks will still come, and your owner payment will stay consistent. It is also important to note that the yacht is fully insured through the company, and therefore, as an owner, you will not have to pay any insurance fees. Follow this link to read more on insurance. Moorings Owner, George Psaros, reveals what he knows, "After Hurricane Irma, our yacht was out of service for 8 months and The Moorings did not make any revenue off of it during this time. And what was consistent throughout the whole process was that every check arrived from The Moorings, on time. I have friends who owned boats with other companies in shared revenue schemes and the payments stopped immediately. Some of these owners got hurt pretty bad."
50 years of perfecting customer service
And George is no novice to charter ownership. In fact, he has owned boats with five different charter companies. "What I have learned is that promises from other charter companies evaporate pretty quickly. They show you on paper that you will do better if you buy through them instead of The Moorings. I can tell you that I have always done better in revenue with The Moorings."
The success of The Mooring Yacht Ownership Program lies in the honestly, integrity, and reputation of promises. While the yachting community suffered one of the biggest disasters the industry has ever seen just a few short years ago, The Moorings always kept true to promises made to owners. We consider our owners to not only be investors in the company, but a part of The Moorings family as well. And through the losses and the rebuilding, it has been important to uphold the standard that provides The Moorings ability to remain the best charter company in the world.
George explains, "The first boat I owned was with The Moorings in 2001, I tried other companies and then I came back. I had experiences with a different charter company in which my checks were chronically late. What is really good about The Moorings is that the Owner Care Team will bend over backwards to accommodate the owners, and they are honest about availability of yachts."
And as for repairs that were made to George's Moorings 4800, and what the future might hold for this sailor, "I used owner times while my boat was out of service, and I have used my own boat when she was back in service. They have done an outstanding job on repairs, the boat has a brand new rig. When my boat comes out of service in July of next year, I will consider trading my boat in for the purchase of a Moorings 5000," he reveals.
Can I trade my damaged boat in for a new one?
During the aftermath of Hurricane Irma there were instances in which owners had badly damaged yachts. Some of these owners decided they wanted to trade in for a new yacht that they could put into The Moorings Charter Fleet. Unique to The Moorings is the opportunity trade in your yacht so she can then be sold through the brokerage team at The Moorings Brokerage. This makes it simple to trade or sell your yacht. The owners who decided to go the route of trading their damaged yacht for a new one, continued to receive each owner payment while they patiently waited for the delivery of their new yacht.
It is because of financial stability and loyalty to clients that The Moorings is the number one choice for charter yacht ownership. If you would like to know more about our Guaranteed Income Program, click the button below to contact us today.