YIELDLYBoatsetter vs GetMyBoat: where should you rent out your boat?
Boatsetter and GetMyBoat are the two biggest ways to rent out a boat in the US, and they now share a parent company while still running as separate marketplaces. They work very differently when it comes to insurance and what you keep.
If your boat already carries commercial insurance, both charge the same 11.5% in the US, so choose on demand and payout speed (Boatsetter pays faster). If it doesn’t, Boatsetter can cover it through Buoy peer-to-peer insurance: the listing fee is 13.5–20% plus an insurance fee, and owners typically keep 65–85%. GetMyBoat includes no insurance, so you’d need your own policy first.
Swipe the table to compare →
| Boatsetter | GetMyBoat | |
|---|---|---|
| Host fee | 11.5% with commercial insurance; 13.5–20% plus an insurance fee with Buoy | 11.5% in the US (1.5% on direct bookings you charge through it) |
| Renter fee on top | Shown at checkout | Shown at checkout |
| On a $1,000 charter, you keep | $885 with commercial insurance; about $650–850 with Buoy | $885 (you supply insurance) |
| Insurance | Your commercial policy, or Buoy peer-to-peer insurance through Boatsetter | None. Bring your own |
| When you’re paid | 1–2 business days (reported) | 5–10 business days after the trip (reported) |
| Cancellation penalty | Up to $1,000 per booking | Possible suspension |
Pick Boatsetter if…
- You don’t have commercial insurance and want coverage arranged through the platform.
- You want faster payouts.
Pick GetMyBoat if…
- You already carry commercial insurance and want a second channel at the same 11.5%.
- You take bookings yourself and want to charge them through it at 1.5%.
Before you list
- Know the captain rules. Carrying paying passengers usually requires a licensed captain; bareboat rentals have their own rules.
- Check your marina. Many slips limit commercial use.
- Budget for fuel, cleaning and wear on every trip.
Sources: Boatsetter: listing and insurance fees; Getmyboat: service fees; Yieldly host economics ledger. Fees and programs change, so confirm in each app before you list.
Questions people ask
Does Boatsetter or GetMyBoat take less?
With commercial insurance, both charge 11.5% in the US. Without it, Boatsetter’s Buoy insurance costs more (owners typically keep 65–85%), and GetMyBoat requires your own policy.
Do I need my own insurance on GetMyBoat?
Yes. GetMyBoat gives owners no liability coverage, so you need a charter or rental policy.
Are Boatsetter and GetMyBoat the same company?
They share a parent company but still run as separate marketplaces.