Boats under their own commercial policy
All boats located in the United States will be charged a 10% listing fee. All boats located outside of the United States will be charged a 15% listing fee.
Boats under GEICO BoatUS policy
Boat owners can expect to take home 65-85% of the boat's listing price. The 35-15% that Boatsetter collects covers the cost of insurance which goes directly to GEICO and a much smaller percentage goes to Boatsetter to be able to run, operate, and grow the most compliant boat rental marketplace. Part of the reason for the range of 65-85% is because Boatsetter pays based on performance. Top owners who keep calendars up to date, quickly respond to renter messages, and utilize some of our features like Instant Book take home more money. If you start slipping on some of those measurements, your take-home earnings will decrease.
If your boat is under the GEICO peer-to-peer insurance policy, an insurance fee will be deducted from the owner's payout. It is algorithmically calculated with each booking based on each boat's unique features, length of trip, location, and more. Because of this, we cannot provide an exact number as to what an individual's boat's insurance cost will be before their first trip. Hence the expected total range described above. This fee helps cover the cost of this insurance. Boatsetter does not have the liberty to disclose the GEICO insurance fee per vessel as part of our agreement with GEICO. The rate is generated by GEICO in accordance with the boat's make, model, year, and accessories. Boatsetter does not control any portion of the insurance fees.