I am planning on purchasing a boat in the next few months and was wondering If anyone does this.

I was mainly thinking of this for liabilty reasons. It would be in an LLC Would this make it impossible to insure or would it not be any different. Would the financing be any different or would it just be like my vehicles where I sign as a personal guarantor.

I do understand that even if the boat would be in a company name I could be held personally liable for certain situations but I feel this could help distance me if something accidental happened (like a drive break and have an accident).

ok now for the compilicated part which I know will come up. I am going to set up a part of my business that will do marine repair and engine building and other stuff like that I know this will not make me much money but I can take money that I make in other parts of my business and pay off the boat and its expenses I will say the boat is advertising for my repair business (which it would be where I live a 40ft boat sticks out like a sore thumb) Basically this would be so the boat would be a business write off which it would be used for business purpose (advertising) even when on land it would be somewhere where it would still be considered advertising.

Well acountants, insurance agents and finance guys what do you think?