I am mostly writing these posts for those of us who have been on the forum since the early days...Just wanted to post my experiences in the exciting world of boat insurance and claims. Reality, a 1980 Hunter 33, has been called a total loss by my insurer. This is despite the fact that the hull wasn't holed, and the mast and rigging was all still up on the boat...evidently boatyard repairs are expensive these days...total repair estimate was $39,710.12...Like the .$12 part, makes it an exact science. Anyway, this is for a boat whose insured value was around $25,000, so...Probably for the best, since there are no working marinas for 100 miles in either direction, and it will literally be a couple of years before the local ones get back into shape. My story is the same, I'm sure for all the boat owners in the area. It is interesting though, the number of boats that are being totaled that seem to have only cosmetic and minor exterior damage. If others experiences are like mine, there are going to be a lot of good used boat parts on the market..for example, my mast and rigging is fine, so I'm sure there is someone who could use it, hope the insurance company does something useful with it for all the hunter 33 owners out there.
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Jim, are you being offered the chance
to buy your own boat back for the 'salvage' value? I don't know much about the subject, but I've heard that if you take something less than the insured value, you get to keep the boat - and if the boat isn't badly damaged, or if a lot of the repairs are tasks you can do yourself ($75/hr yard time adds up quickly!) you could get a really good deal. From your picture, it's hard to imagine $40k of damage. I wonder if the insurance companies are just wanting to settle claims and get them off the books.... and as you pointed out, there isn't anywhere to get repairs done, anyway
Sympathies for your plight. We moved from Lake Charles to Los Angeles last year and still have friends, family and clients back there. Cheers, Bob s/v X SAIL R 8
to buy your own boat back for the 'salvage' value? I don't know much about the subject, but I've heard that if you take something less than the insured value, you get to keep the boat - and if the boat isn't badly damaged, or if a lot of the repairs are tasks you can do yourself ($75/hr yard time adds up quickly!) you could get a really good deal. From your picture, it's hard to imagine $40k of damage. I wonder if the insurance companies are just wanting to settle claims and get them off the books.... and as you pointed out, there isn't anywhere to get repairs done, anyway
Sympathies for your plight. We moved from Lake Charles to Los Angeles last year and still have friends, family and clients back there. Cheers, Bob s/v X SAIL R 8
Jim, how's the interior?
Mine was horribly flooded after going through hurricane Louise on Antigua. Maybe that's what they are basing their decision on. And your boat looks like a candidate for salvage by a helicopter. I thought that was common practice around the gulf.
Mine was horribly flooded after going through hurricane Louise on Antigua. Maybe that's what they are basing their decision on. And your boat looks like a candidate for salvage by a helicopter. I thought that was common practice around the gulf.
I had a similar experienc with my insurance co and one of my cars. A 1985 M/B 300SD That was hit by a hit-n-run driver. This car is in mint condition and runs and looks like it rolled of the factory floor. Insurance co wanted to 'Total' it. I said, OK, BUT I'm keeping her. They deducted the 'Salvage Value' from their payout ($400) and I kept the car. Had it fixed and it's perfect again. Going on 300,000 miles and still purrs. If your insurance co will make this same deal with you, go for it...nice big check AND the boat....a win win situation.
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