This article contains information about content that has yet to be officially released, but has been shown via official means. Some of the information may change upon official release.
Not much is known about Boats, as all that has been shown of them is a single screenshot featuring an example. Presumably, traveling by boat will allow one to cross water without worrying about drowning or aquatic enemies.
Along with Hoverbikes, when damaged, the boat can be repaired at the cost of auto chips (which are available from the second pirate bay vendor for 100 pixels apiece) from Rob Repairo, a robot located next to the bearded pirate who sells the vehicles.