Owning a yacht in Florida is a dream for many, combining luxury, freedom, and the open-water lifestyle that defines coastal living.
But before you set course for the horizon, it’s important to understand what yacht ownership actually costs each year.
From maintenance to mooring, fuel to crew, this guide breaks down the real annual cost of owning a yacht in Florida so you can plan confidently and avoid surprises.
Let’s begin!
1. Dockage An Storage
Florida’s marinas offer world-class amenities, but convenience comes at a price. When it comes to yacht dockage in Florida, especially in yachting hubs like Fort Lauderdale, Miami, and Palm Beach, rates typically range from $25 to $60 per foot per month, depending on vessel size, location, and available services. Annual dockage can total $20,000 to $60,000 or more for mid-sized yachts between 50 and 70 feet.
Many owners choose full-service marinas such as Pier Sixty-Six Marina in Fort Lauderdale, Miami Beach Marina or Yacht Haven Grande Miami for easy access, professional services, and top-tier amenities. Others prefer upscale destinations like Safe Harbor Rybovich in West Palm Beach or a Suntex Marina, which balance luxury, convenience, and excellent security.
While private dock ownership can help offset ongoing expenses, marina storage remains the preferred choice for many yacht owners thanks to superior accessibility, safety, and maintenance support. Overall, Florida yacht storage costs are among the highest in the U.S., but they reflect the unmatched convenience and community offered by the state’s premier boating locations.
2. Insurance
Florida’s coastal conditions make yacht insurance essential. Rates generally fall between 1.5% and 3% of your yacht’s insured value annually.
For a $1 million vessel, expect to pay $15,000 to $30,000 per year, depending on coverage level, vessel age, and usage frequency.
We have created for you a list of 3 great trusted sources of yacht insurance in the region:
3. Maintenance And Repairs
Routine maintenance is one of the largest ongoing expenses of yacht ownership in Florida. Annual costs typically range from 5% to 10% of the yacht’s value, covering essentials such as bottom cleaning, engine servicing, detailing, and system checks. Saltwater exposure and the state’s humid climate make regular upkeep essential to preserve performance and resale value.
For new yachts, factory warranties can significantly reduce these expenses in the first few years. The Aicon 66’ Vivere, for example, includes a full factory warranty that offers peace of mind and minimizes out-of-pocket maintenance costs. This coverage allows owners to focus on enjoying their time on the water while keeping long-term operating expenses predictable.
Even with warranties, owners should budget for seasonal haul-outs, professional inspections, and minor wear-and-tear repairs to ensure their yacht remains in top condition.
4. Crew and Management
For many yacht owners in Florida, crew and management costs represent a significant portion of annual expenses. A full-time captain and stewardess can add $120,000 to $180,000 per year when factoring in salaries, benefits, and insurance. Larger vessels often require additional deckhands or engineers, further increasing costs.
However, not every yacht demands a professional crew. The Aicon 66’ Vivere was designed for the true yachtsman, offering advanced control systems and intuitive handling that make owner-operation entirely possible. This flexibility allows experienced owners to enjoy hands-on command while reducing long-term management expenses.
Those who prefer a fully managed experience can still rely on yacht management firms throughout Florida to oversee maintenance, logistics, and charter coordination, ensuring effortless ownership.
5. Fuel and Operation
Fuel expenses vary with usage.
Modern motor yachts can burn 50 to 80 gallons per hour, and with Florida diesel averaging $4 to $6 per gallon, even light cruising adds up quickly.
For moderate cruising schedules, plan for $25,000 to $50,000 per year, with heavier use doubling that figure.
6. Registration, Taxes, And Legal Fees
Florida yacht registration costs are minimal compared to other expenses, typically $200 to $1,000 per year. Sales tax is capped at $18,000, but documentation, legal filings, and consulting fees can add to the total.
A professional broker or maritime attorney can ensure compliance and structure your ownership for tax efficiency.
The Liv Yacht Sales team helps clients navigate these details, from documentation and registration to connecting buyers with trusted marine attorneys and documentation specialists.
Our goal is to simplify ownership and ensure every vessel is properly registered, compliant, and protected from day one.
7. Upgrades and Customization
Yacht owners often personalize their vessels with new electronics, entertainment systems, or décor.
These upgrades usually range from $10,000 to $100,000 annually, depending on how often improvements are made.
8. Other Considerations
Every yacht owner faces unique variables such as depreciation, refits, or hurricane preparation. Relocating to the Bahamas for storm season or chartering part-time can offset or increase annual costs.
It’s wise to keep a buffer for these fluctuations to protect your investment and keep your yacht in prime condition.
9. Total Annual Estimate
The average annual cost of owning a 50–70 foot yacht in Florida typically falls between $185,000 and $580,000.
Those who manage their vessels independently and cruise less will lean toward the lower end, while full-service ownership and frequent cruising will trend higher.
View the visual chart below
| Category | Low Estimate | High Estimate |
| Dockage & Storage | $20,000 | $60,000 |
| Insurance | $15,000 | $60,000 |
| Maintenance & Repairs | $100,000 | $120,000 |
| Crew & Management | $0 (owner-operated) | $120,000 |
| Fuel & Operation | $40,000 | $90,000 |
| Reg. Taxes & Legal | $10,000 | $25,000 |
| Approx. Total/Year | $185,000 | $580,000 |
Final Thoughts
Owning a yacht in Florida offers access to some of the best boating waters in the world. With a realistic budget and expert guidance, the rewards far outweigh the responsibilities.
Let’s Help You Navigate Your Next Move
At Liv Yacht Sales, we’re proud to serve clients across Florida with insight, experience, and personalized support.
📧 info@livyachtsales.com
📞 New York: (516) 405-6070
📞 Florida: (305) 414-1151
“Your yachting dreams are closer than you think.”
– The Liv Yacht Sales Team
