Many think that a warranty covers everything. But most warranties have limitations.

Is my extended-service contract an extension of my manufacturer warranty?

Sorry, Service contracts are insurance policies, often underwritten by third parties not associated with manufacturers. These contracts are moneymakers for dealers; some retailers can mark up contracts more than 100 percent over the actual cost paid to the service-contract company. A true warranty offers broad coverage and has the weight of state and federal warranty laws behind it. The best service contracts are those backed by large manufacturers, and some offer their own in-house service contracts. Read the fine print. Most defects in new boats and engines show up within the original warranty period, so spending money up front on a service contract may be a waste of money.

Q: Does my new-boat warranty cover my engines, too?

A: While the boat builder offers a warranty on the boat itself, usually the engine manufacturer provides separate warranty coverage for the engine(s). As a result, you may have to go to two different places for warranty repairs. Look for dealers that have technicians who can provide warranty work for both — a big plus. Read your new-boat warranty to learn what the dealer can fix and what you may have to take elsewhere for repairs, such as electronics. A few boat manufacturers now offer true “bumper-to-bumper” warranties that cover everything on the boat, just like new-car warranties.

Q: I’m an experienced boater who does my own maintenance. Will this void my coverage?

A: No, provided you follow the manufacturer’s recommended schedule and use quality parts and fluids. Keep detailed records of maintenance, including dates of service, engine hours at time of service, and a description of services and/or parts installation performed.