• On September 1st, Maine Sail suffered a major hemorrhagic stroke. One of the most generous members of our sailing community, he has helped thousands. Now it's our turn. Click here to learn more

Bought A Salvage

Aug 22, 2019
59
n/a n/a Galveston
Anyone here ever buy a salvaged sailboat? I wired the $$ today on a Bristol 40, freshwater intrusion from shore power being off and bilge not functioning. 4-5" in the boat. Engine supposedly runs fine, I have not seen it in person yet. Mechanic is going tomorrow to give it a once over. Plan is to assess damage, change fluids, then motor to marina for a haul out and survey. I need to have insurance before haul out which I will be trying to obtain in the next few days.
 
Aug 22, 2019
59
n/a n/a Galveston
Certainly never bought one sight unseen...

dj
I had pics from the salvage site, and pics when it was for sale a few months ago. Previous owner told me he was surprised that the insurance company totaled it.
 
May 24, 2004
6,799
CC 30 South Florida
Wired money today and the haul out and survey is next week? The apple cart before the horses. $1,230 is not a whole lot of money when compared to the cost of disposing of a boat which could be deemed not worth fixing. Hope it turns out OK.
 
Jan 1, 2006
6,098
Slickcraft 26 Greenport, NY
It's been posted several times that you can't get insurance on a boat that was totaled by an INSCO. I hope you find a way around that. Please keep us informed.
 
  • Like
Likes: scuba201
Oct 19, 2017
6,951
O'Day 19 Littleton, NH
It's been posted several times that you can't get insurance on a boat that was totaled by an INSCO. I hope you find a way around that. Please keep us informed.
That may or may not be true, but the marina probably wants liability covered, not your damages. Considering that liability only covers damages for others, the shape of the boat has little to do with the business of getting that insurance.

We had a car totaled, which I bought back from the insurance company. The requirement is that all claimed damages must be repaired to original factory specs, irrespective of any custom modifications, unless those modifications are documented and insured by the insurance company. Being declared salvage doesn't mean unsafe, it is just the insurance company's way of getting the police to guard against insurance fraud for them.

-Will (Dragonfly)
 
Jan 1, 2006
6,098
Slickcraft 26 Greenport, NY
.....Being declared salvage doesn't mean unsafe, it is just the insurance company's way of getting the police to guard against insurance fraud for them.
I have to admit that I don't understand this. Maybe I need another cup of tea. What would the fraud be?
 
May 17, 2004
3,483
Beneteau Oceanis 37 LE Havre de Grace
That may or may not be true, but the marina probably wants liability covered, not your damages. Considering that liability only covers damages for others, the shape of the boat has little to do with the business of getting that insurance.
It seems like it may extend further than that. Off the top of my head I could think of situations where the shape of your boat could affect others in the marina. If your mast falls down on the boat next to you, if your boat starts a fire, or if your boat sinks and the marina wants it to be removed, all seem like reasons the marina might want to ensure you’re adequately covered, and all depend on the shape of your boat.
 
  • Like
Likes: Will Gilmore
Jun 29, 2010
1,250
Beneteau First 235 Lake Minnetonka, MN
I hope your bank account is full of Benji's. A 40 foot boat, just by pictures, water sitting in it, etc.. etc.. Good luck, hope you can sail within 12 months.
 
Jan 19, 2010
10,016
Hunter 26 Charleston
I called my State Farm guy... said I would like liability only on my boat. He asked me the year, make and HIN over the phone. Done! I got a $3M liability policy that includes environmental. Not sure if this helps since my boat was never "totaled". But I'm not sure my boat was ever insured before either.
 
  • Like
Likes: scuba201
Oct 19, 2017
6,951
O'Day 19 Littleton, NH
I have to admit that I don't understand this. Maybe I need another cup of tea. What would the fraud be?
The police officer who inspected my repairs of the four panel dents that lead the insurance company to declare the car totaled, used that as the reason. To prevent insurance claims on preexisting damage that had already been paid out for. Frankly, I think the insurance company should be responsible for policing their own gullibility, not getting the government to do it for them.
Of course, I don't know if this thinking actually extends to boats. Maritime law has its unique quirks.
It seems like it may extend further than that. Off the top of my head I could think of situations where the shape of your boat could affect others in the marina. If your mast falls down on the boat next to you, if your boat starts a fire, or if your boat sinks and the marina wants it to be removed, all seem like reasons the marina might want to ensure you’re adequately covered, and all depend on the shape of your boat.
I agree, however the example problems you listed are just as likely to be the case for any boat.
The designation of salvage is not a statement of safety. Although, the officer who inspected my vehicle and the agent who issued my temporary plates believed it to be. "Salvage" is an insurance company term, all the papers marking a vehicle as salvage are generated by the insurance company. The only thing the state does is inspect the repairs to allow the issuance of a new title which will retain the declaration of salvage. You still need a standard, separate, vehicle inspection sticker conducted by a certified garage and to register the inspected vehicle as you would any other. The salvage inspection is just to make sure they keep track of the vehicle and its parts so that no one can make a double claim.

-Will (Dragonfly)
 

dLj

.
Mar 23, 2017
1,833
Belliure 41 Now on the Chesapeake
Bristol 40s were made from 1972 to 1986. What year is the one you've picked up? The Perkins 4108 is an excellent engine.

dj
 
  • Like
Likes: scuba201

dLj

.
Mar 23, 2017
1,833
Belliure 41 Now on the Chesapeake
Oh, here's a link to a Practical Sailor review:


dj
 
  • Like
Likes: Will Gilmore