Peer-to-peer Boat Rental: How It Works and What You Earn

For boat owners

If you own a boat and want to start renting it out, the first thing to do is create a listing. Platforms like Boatsetter and GetMyBoat are two of the most popular places to do this. You add photos of your boat, describe what it is, set your daily or hourly rate, and mark which dates you are available. The clearer and more detailed your listing, the more bookings you tend to get.

You also choose what kind of rental you want to offer. Some owners offer their boat with a captain included, meaning they take the renter out themselves or hire someone to do it. Others offer bareboat rentals, where the renter operates the boat on their own. Both options can work well depending on your type of boat and how much involvement you want.

Once a renter books your boat, the platform will notify you. You need to confirm the booking. After the trip, the renter returns the boat. You check it over, ensure everything is in order, and the platform will release your payment. Most platforms process payments within a few business days after the trip ends.

For renters

If you want to rent a boat, you start by searching on a P2P platform. You filter by location, date, boat type, and price. Most platforms show you available boats on a map so you can see exactly where they are located.

Once you find a boat you like, check the listing carefully. Look at the photos, read the description, and go through any rules the owner has set. Pay attention to whether the rental is captained or bareboat. If it is bareboat, some platforms will ask you to confirm your boating experience or show proof of a safety certification, depending on your state.

When you are ready, you book and pay through the platform. The payment is held securely until after the trip is complete. Before you head out, you meet the owner at the dock. Do a walkthrough together, ask any questions you have, and take your own photos of the boat's condition before you leave.

Motorboats

Motorboats are the most rented boat type in the P2P market. They hold around 41% of the total rental inventory. These boats do not require any special license or sailing skills for short trips in most US states.

If you are thinking about which boat to list first, the best option is a motorboat on a busy lake or coastal area, which gives you the largest pool of potential renters.

Best for: First-time renters, families, and groups.

Pontoon boats

Pontoon boats remain one of the most reliable choices for P2P rentals, and the market data backs that up. The global pontoon boat market was projected to reach $2.5 billion by 2025, with pontoon boats marking one of the fastest rebounds among all boat types due to rising boating participation and their growing share among outboard boats. Renters feel safe on them even if they have never been on a boat before.

They work well for birthday parties, family outings, and casual lake days. They can also carry more people than most other boat types at the same length, which makes them popular for group bookings. If you own a pontoon and live near a lake or river, you have a strong asset for P2P rentals.

Best for: Groups, families, lake markets, casual renters

Fishing boats

Fishing is one of the biggest drivers of boat rental demand in the US. Fishing bookings on Boatsetter increased by 22% in 2024 compared to 2023, with bass boats seeing a 46% jump in bookings year over year. Many anglers do not own a boat but want access to one for a day on the water.

The captain option works especially well here. Many fishing renters prefer to book a boat with a captain because the captain knows the local waters and the best fishing spots.

Best for: Anglers, guided fishing trips, captained rentals, coastal and lake markets

Sailboats

Sailboats attract a very specific type of renter. These are people who want an experience on the water, not just a ride. They book sailboats for the feeling of being under sail, for overnight trips, and for exploring coastlines at a slower pace.

Booking volume for sailboats is lower than for motorboats or pontoons. But renters who book them tend to stay longer and pay more per trip. The captain option is almost always required because sailing takes real skill, and in many states, a license is needed to operate one.

Best for: Experience-focused renters, overnight trips, captained rentals, coastal markets.

Jet skis and personal watercraft

Jet skis run on a shorter rental model. Most bookings are hourly rather than full-day. That means more turnover per day but smaller revenue per booking compared to a motorboat or pontoon.

They are popular with younger renters and groups looking for a quick thrill on the water. Tourist areas and beach destinations tend to see the strongest demand. One thing to plan for as an owner. Jet skis take more wear per hour than most other vessel types. Factor that into your pricing and maintenance budget from the start.

Best for: Tourists, young adults, beach markets.

Yachts and luxury vessels

Yachts get fewer bookings than any other type on this list. But a single booking can bring in more than a full week of motorboat rentals. Boatsetter's list of most favorited boats in 2024 included everything from Italian nightclub-style yachts to vessels with jacuzzis on board, showing that renters are willing to pay for standout luxury experiences.

Miami, the Hamptons, and Southern California drive most of the luxury yacht demand in the US. Presentation matters a great deal in this segment. Strong photos, a detailed listing, and a clean review history are what separate a fully booked yacht from one that sits idle.

Best for: Corporate events, celebrations, high-income renters, premium coastal markets

For owners

The first thing to understand is that your regular boat insurance almost certainly does not cover rental activity. That means before you list your boat anywhere, you need the right type of coverage in place. Here is a breakdown of what each insurance type covers:

• Liability coverage: covers injury to another person or damage to another boat or property caused by your renter while using your vessel. Standard policies typically offer $300,000 per person and up to $1,000,000 per accident.
• Hull coverage: covers physical damage to your boat during the rental period. This includes collision with a dock, another vessel, or a fixed object. Collision coverage protects your boat if it hits something, such as another boat or a dock. Comprehensive coverage handles theft, vandalism, and weather-related damage.
• Medical payments coverage: covers medical costs for passengers injured during the rental. This is typically around $25,000 per person.
• Fuel spill liability: covers cleanup costs if your boat spills fuel during a rental. Limits often reach $1,076,000 per incident, which matters because environmental damage from fuel spills can be expensive to clean up.
• Commercial use endorsement: If you plan to rent your boat regularly, a standard personal policy will not be enough. A commercial use endorsement covers the boat during rental or shared use scenarios that standard policies typically exclude.

Source: Stanton Insurance - Boat Rental Insurance

For renters

As a renter, these are all covered on P2P platforms:

• Damage to the rental boat: Some platforms include this, others do not. Before booking, ask the owner or platform whether the insurance includes damage to the boat itself, third-party injuries, or towing costs. If coverage is limited, you may want to purchase a short-term boat rental insurance policy separately.
• Medical payments: covers your own medical costs and those of passengers on board if an accident happens during the rental period.
• Towing and on-water assistance: If the boat breaks down mid-trip, some platform policies include emergency towing back to the dock.