Last reviewed: 2026-05-07 > Quick answer: For a typical 20-foot aluminum boat at around $40,000, plan on $5,800-$7,500 per year in operating costs cash-bought, slip, storage, winterization, insurance, fuel, routine service, PCL. Add a typical 10-year loan and the all-in...
Last reviewed: 2026-05-07
Quick answer: For a typical 20-foot aluminum boat at around $40,000, plan on $5,800-$7,500 per year in operating costs cash-bought, slip, storage, winterization, insurance, fuel, routine service, PCL. Add a typical 10-year loan and the all-in number rises to about $10,000/year. Full sample budget is in Section 7 below. Build a current quote at mercuryrepower.ca.
If you're shopping your first boat or thinking about whether to keep your current one, the purchase price is only part of the question. The bigger question is: what does it cost to keep it on the water every year?
Most online articles answer that with American numbers, generic ranges, and no specifics. This is the Ontario version, with real numbers, most of them HBW's own. Use it as a planning template.
The Two-Number Summary
For a typical 20-foot aluminum fishing boat valued at around $40,000, plan on roughly $5,800-$7,500 per year of operating cost in Ontario (cash-bought, no loan payment). Add a typical 10-year loan and the all-in number rises to about $10,000/year.
For a 22-foot pontoon at $55,000, scale that up to roughly $7,500-$9,500 a year cash-bought, or about $12,000-$14,000 financed.
These are operating numbers, slip, storage, winterization, insurance, fuel, routine service, PCL, not depreciation or opportunity cost. The full sample budget is in Section 7 below; if you only read one section, read that one.
That's the honest answer. Now the breakdown.
1. Marina Slip / Moorage
If you keep your boat in the water at a marina seasonally instead of trailering it, the slip is one of the biggest line items.
HBW Rice Lake, Ontario slip pricing (2026):
- Seasonal slip: $48/ft, minimum $960. So a 20-ft boat = $960; a 24-ft pontoon = $1,152.
- Transient (overnight): $1.00/ft per night, minimum $20. Weekly $5/ft. Monthly $10/ft.
- 49 slips at HBW Gores Landing.
Ontario range: $40-$60/ft seasonal at rural Kawartha marinas. $100-$150+/ft at urban Lake Ontario marinas. Toronto/Mississauga slip rates are a different category entirely.
If you trailer instead of slipping, substitute launch fees: HBW is $20/day or $200/season. Public launches around Rice Lake, Ontario (in the Kawarthas) (Bewdley, Roseneath, Harwood) are free but single-lane and busy on weekends.
Annual budget: $960 (seasonal slip) OR $200 (HBW launch season pass) OR $0 (free public launches).
2. Insurance
Boat insurance is not legally required in Ontario, but most marinas (including HBW) require proof of insurance to dock, and lenders require it as a condition of financing. So in practice, it's required.
Ontario rates:
- Annual premium: typically 1-3% of hull value, averaging ~1.5%
- $30,000 boat → $300-$900/year
- $50,000 boat → $500-$1,500/year
- $80,000 boat → $800-$2,400/year
- Most marinas require $2-3 million liability minimum
Quotes vary widely based on boat type, claims history, and where you operate. Get three quotes; insurance is one of the few line items where shopping around makes a real difference.
Annual budget for $40K boat: $400-$1,000.
3. Winter Storage and Winterization
In Ontario, you don't get to skip winter storage. The boat has to come out of the water (slip is closed October-ish), get winterized (engine, fuel system, gearcase), and live somewhere through the cold months.
HBW pricing 2026:
- Outdoor + shrinkwrap, up to 21 ft: $33/ft → $693 for 21-ft boat
- Outdoor + shrinkwrap, 22 ft+: $35/ft → $770 for 22-ft pontoon
- Outdoor with trailer, no shrinkwrap, up to 21 ft: $36/ft (storage only)
Winterization (separate scope, fall):
- 40-60 HP 4-stroke: $337.84
- 75-115 HP 4-stroke: $425.71
- Larger engines, sterndrives, twin setups: $500-$900+
Indoor storage (we don't offer; some Ontario competitors do):
- Indoor unheated: $40-$60/ft (~$840-$1,260 for 21-ft boat)
- Indoor heated: $60-$90/ft (~$1,260-$1,890 for 21-ft boat)
Annual budget for 21-ft outdoor + winterized: ~$1,000-$1,200 all-in at HBW.
The "what if I skip it" cost: A cracked engine block from a missed winterization runs $5,000-$10,000+. Skipped winterization is the most expensive way to save $400.
4. Fuel
The biggest variable on the list, since it depends on how much you actually use the boat.
Fuel burn (typical Ontario boats):
- 2-stroke 75 HP running 25-30 L/hour at typical cruise
- Mercury 4-stroke 90-115 HP running 15-18 L/hour at typical cruise
- Mercury 4-stroke 200 HP V6 running 25-35 L/hour at cruise
Fuel pricing:
- Pump gas (with ethanol) in Ontario: ~$1.50-$1.65/L, varies seasonally
- HBW dock, ethanol-free 89 marine: typically $0.20-$0.40/L premium over pump
Why ethanol-free is worth the premium for many owners:
- Doesn't absorb water during storage (huge for a boat that sits)
- Easier on fuel system components (longer carb / injector life)
- More stable shelf life, 6+ months vs. 30 days for ethanol pump gas
- Slightly better fuel economy in most outboards (~3-5%)
Annual fuel budget (50-100 hours per season):
- 90 HP 4-stroke, 75 hours, ethanol-free: ~$1,800-$2,200
- 150 HP 4-stroke, 75 hours, ethanol-free: ~$2,400-$3,200
- 200 HP V6, 75 hours, ethanol-free: ~$3,000-$4,200
You can build a live CAD quote for your repower online at Mercury Repower Centre.
For most recreational owners, fuel is $1,500-$3,500 a year.
5. Routine Service and Maintenance
Mercury's 20/100/300 schedule applies in Ontario, with the annual trigger beating the hourly trigger for most recreational owners (see our Mercury Maintenance Intervals 20/100/300 guide for the full breakdown).
HBW annual service pricing:
- 20-hour break-in service (one-time, after first 20 hours): $250-$400 mid-range
- 100-hour annual service (every year regardless of hours): $400-$700 mid-range; $700-$1,200 V6
- 300-hour major service (every 3 years): $800-$1,200 mid-range; $1,200-$2,500 V6/Verado
Other annual line items:
- Bottom paint refresh (if applicable): $300-$600
- Cover/canvas cleaning: $100-$250
- Trailer service (bearings, brakes, lights): $150-$400
- Detailing (varies): $200-$600
Annual maintenance budget (year-2 onward, mid-range engine): $500-$1,500. Plan on the higher end.
Transport Canada's PCL changes effective December 31, 2025 ended lifetime licences. New and renewed PCLs are 5-year licences at $24 CAD, issued and renewed online through Transport Canada's PCL portal (existing lifetime PCLs are gradually being replaced). Amortized: $5/year.
PCOC (operator card) is a one-time test, lifetime card. ~$50 once, never again.
This category used to be near-zero. It's still essentially negligible.
7. The Sample Budget, 20-Ft Aluminum, $40K, Cash-Bought
| Line item |
Annual cost |
| Marina slip (HBW seasonal, 20 ft) |
$960 |
| Insurance (1.5% of $40K) |
$600 |
| Winter storage + shrinkwrap (HBW) |
$700 |
| Winterization (90 HP 4-stroke) |
$425 |
| Annual service (100-hour) |
$550 |
| Fuel (75 hrs, ethanol-free) |
$2,000 |
| Maintenance reserve (props, batteries, wear items) |
$400 |
| Trailer maintenance |
$200 |
| PCL amortized |
$5 |
| Total cash-bought |
~$5,840 |
Add a loan payment (10-year financing, 8% interest, 20% down on $40K): about $4,200/year. Total all-in: ~$10,000/year.
For a higher-tier boat, say a 22-ft pontoon at $55K, scale up about 25-30%. For a 26-ft cuddy or sterndrive cruiser, scale up further still.
8. The 10-Year Picture
Here's what most online cost calculators get wrong: ownership costs over time are not stable. Some years you replace a battery and a prop; some years you replace a powerhead.
Reasonable 10-year planning numbers for the 20-ft, $40K example:
- Routine (slip + insurance + storage + maintenance + fuel): ~$50,000 over 10 years
- Major repairs / replacements: ~$5,000-$15,000 (impeller jobs, battery, props, electronics, possible repower)
- Loan interest (if financed): ~$15,000-$20,000
- Resale at 10 years: boats lose 20-30% in year 1, maybe 50-60% by year 10. Recover ~$15,000-$20,000.
Net cost over 10 years (cash-bought): ~$50,000-$60,000.
Net cost over 10 years (financed): ~$70,000-$85,000.
That's why people repower. A $20,000 Mercury repower on a 15-year-old hull resets the engine clock and extends the boat's useful life another 10-15 years, for about half the cost of buying new.
Where HBW's Numbers Save You Money vs. Alternatives
A few places HBW's pricing differs from what you'd find elsewhere:
Ethanol-free fuel. The premium pays for itself in reduced fuel-system maintenance work and longer engine life. For a heavily-used boat, ethanol-free saves $200-$500/year in service work alone.
Transparent quote configurator. mercuryrepower.ca gives you real Mercury pricing in 90 seconds. No "call for a quote" games, no wasted weekends comparing dealer estimates that come back wildly different. The price you see is the price.
Bundled storage + service. Drop off in fall for shrinkwrap + winterization, optionally add spring commissioning. One trip, one invoice, no chasing two different vendors for the engine work and the storage.
Mercury Platinum dealer rates. Service work at HBW is OEM parts, factory-trained techs, and Mercury warranty support. The hourly is comparable to other Ontario Mercury dealers; the difference is the work doesn't have to come back.
The Honest Take
Boats are not cheap. They are also worth it for the right reasons.
If you're considering ownership and the math above feels manageable, great. Welcome to the lake.
If the math feels stretched, we have rentals. Nine-boat fleet on Rice Lake (16-ft fishing through 24-ft pontoon), half-day or full-day, Mercury power on every boat. $119K in rentals through 2025, growing every year. People love it. harrisboatworks.ca/rentals.
There's no shame in renting. There's a lot of shame in over-extending into a boat you can't afford to maintain. Maintenance neglect ages a boat 10x faster than honest use does.
What we see at HBW
The first-year ownership cost usually surprises new boaters. Boat + motor is the big number, but storage, insurance, gas, dock or trailer, and the 20-hour first service add up. On a $35K pontoon, expect another $4-6K in first-year costs after the purchase.
Year two through five averages out lower if winterization and 100-hour service are kept current. The boats that get expensive in year five are the ones whose owners skipped impeller changes and gear-lube changes. Those repairs end up costing more than what the maintenance would have.
Ready to price it out? Build a live CAD quote for your repower online at the Mercury Repower Centre.
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