Insurance i.e. a totaled boat

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Walter Grygiel

No, we're not interested in scuttling our boat. We love our Beneteau 331, "killybegs". I understand the cost to repair aspect. What type of damage would a sailboat have to sustain to be considered "totaled" by insurance? Sinking, Lightning strike, Fire, Caved-in coach roof. We lake sail.
 
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Charlie Gruetzner - BeneteauOwners.net

totaled Boat

Walter, it is not the type of damage that a insurance company is concerned about but rather the amount of damage or the cost to fix the boat versus the value. Even if they total the boat you can buy it back for salvage and fix it yourself. The value is usually determined through NADA, BUC or ABOS values as well as what the going price is for the same or comparable boats. I hope this helps Charlie Gruetzner Oceanis Marine Services Inc.
 
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