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,...
Quick answer: The Section 7 sample is an illustrative CAD budget. Its annual cash total is $5,879.49. Storage and winterization in that sample are before HST, shop supplies and miscellaneous charges. For illustration only, financing $32,000 after an $8,000 down payment on a $40,000 purchase for 120 monthly payments at 8% nominal annual interest produces a payment of about $388.25/month, or $4,658.98/year, before any financed taxes or fees. Added to the $5,879.49 sample annual cash budget, that is about $10,538.47/year. The 8% rate is an assumption, not a current HBW financing offer. 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 the $40,000, 20-foot aluminum example in Section 7, the illustrative annual cash budget is $5,879.49 (cash-bought, no loan payment). Storage and winterization in that sample are before HST, shop supplies and miscellaneous charges. For illustration only, financing $32,000 after an $8,000 down payment for 120 monthly payments at 8% nominal annual interest is about $388.25/month, or $4,658.98/year, before any financed taxes or fees. Added together, that is about $10,538.47/year. The 8% rate is an assumption, not a current HBW financing offer.
Prices here are planning figures as of September 2026. For live Mercury motor pricing, see the Mercury pricing reference. Winterization and storage examples use the current HBW winter-storage rate page.
For a 22-foot pontoon at $55,000, a separate planning assumption (not the Section 7 loan arithmetic) is 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.
Effective September 2026
The current HBW 2026–27 winter-storage rate card lists these trailered-boat rates before HST, shop supplies, and miscellaneous charges:
- Storage with shrink wrap, up to 21 ft: $36/ft
- Storage with shrink wrap, 22–28 ft: $38/ft
- Outdoor uncovered storage, up to 21 ft: $28/ft
- Outdoor uncovered storage, 22–28 ft: $30/ft
- 40-60 HP FourStroke winterization: $355.94
- 75-115 HP FourStroke winterization: $444.49
- 20 ft storage with shrink wrap: $720.00
- 21 ft storage with shrink wrap: $756.00
- 21 ft trailered wrapped storage plus 75-115 HP FourStroke winterization: $1,200.49
HBW offers outdoor storage with professional shrink wrap, outdoor uncovered storage, and shrink-wrap-only service. We do not offer indoor or heated boat storage.
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: $1,200.49 before HST, shop supplies, and miscellaneous charges.
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
For most recreational owners, fuel is $1,500-$3,500 a year.
5. Routine Service and Maintenance
For most current recreational Mercury FourStrokes, the 100-hour or annual trigger applies, with expanded work commonly due around 300 hours or three seasons. The exact model manual controls. See our Mercury maintenance schedule guide for the full breakdown.
HBW annual service pricing:
- Optional early dealer check (only if recommended): scope and price depend on the motor and installation
- 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.
6. Pleasure Craft Licence (PCL)
Transport Canada's PCL changes effective December 31, 2025 ended lifetime licences. As of August 8, 2026, new and renewed PCLs are 5-year licences at $24.41 CAD, issued and renewed online through Transport Canada's PCL portal. Transport Canada adjusts the fee for inflation each April 1, so verify the current amount before applying. At the August 8 fee, that works out to about $4.88/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
Illustrative CAD budget using the amounts below. Storage and winterization are before HST, shop supplies and miscellaneous charges. Other line items are planning assumptions; tax treatment depends on the item and quote. This is not a final tax-inclusive annual bill.
| Line item |
Annual cost |
| Marina slip (HBW seasonal, 20 ft) |
$960 |
| Insurance (1.5% of $40K) |
$600 |
| Winter storage + shrinkwrap (HBW, 20 ft trailered wrapped) |
$720.00 |
| Winterization (90 HP FourStroke) |
$444.49 |
| 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 |
$5,879.49 |
That exact sample is $5,879.49.
For illustration only, financing $32,000 after an $8,000 down payment on a $40,000 purchase for 120 monthly payments at 8% nominal annual interest produces a payment of about $388.25/month, or $4,658.98/year, before any financed taxes or fees. Added to the $5,879.49 sample annual cash budget, that is about $10,538.47/year. The 8% rate is an assumption, not a current HBW financing offer.
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.
Use one consistent model: purchase price + operating expenses + actual major repairs + financing interest − resale proceeds. In this illustration, remove the $400 annual repair reserve from operating expenses when adding separate actual repair costs, so repairs are not counted twice. That leaves $5,479.49/year of listed operating expenses, or $54,794.90 over 10 years if held constant. With the stated $40,000 purchase price, $5,000–$15,000 major-repair assumption and $15,000–$20,000 resale assumption, the arithmetic gives $79,794.90–$94,794.90 cash-bought. Adding $14,589.80 interest from the illustrative loan gives $94,384.70–$109,384.70 financed. These are scenario calculations, not forecasts; taxes and charges not already included, inflation, finance fees and opportunity cost are excluded. Resale and repair assumptions must be replaced with boat-specific evidence before relying on the result.
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. It can reduce some storage and fuel-system concerns, but the financial result depends on usage, storage, fuel turnover, maintenance, and the motor's approved fuel specification. Do not assume a universal annual saving or longer engine life.
Transparent quote configurator. mercuryrepower.ca gives you a current Canadian pricing starting point without waiting for a callback. The boat-specific written quote controls the final motor, rigging, labour, tax, trade-in, and financing figures.
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 Premier 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. HBW's current Rice Lake lineup includes pontoon and fishing-boat options, with live rates and rental periods shown online. Book and check availability at harrisboatworks.ca/rentals.
Renting can be the better fit when ownership would stretch your budget. Leave room for maintenance as well as the purchase; the goal is to enjoy your time on the water without financial strain.
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 annual 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.
