I was reading an artical on insured losses and came across the following: More than 75,000 boats and yachts were damaged or destroyed by Katrina, with a total cost of nearly $2 billion alone, the spokesman said.
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I don't know how they'd know yet.
Sounds like a number the press pulled out of somebody's hat (which they've been known to do if it makes better copy)...'cuz all the boats haven't even been found yet, much less all of 'em surveyed and assessed.
Sounds like a number the press pulled out of somebody's hat (which they've been known to do if it makes better copy)...'cuz all the boats haven't even been found yet, much less all of 'em surveyed and assessed.
They don't know, but
the insurance companies have to guesstimate their losses ASAP after a disaster to allocate their reserves, and to get info to the media so wall street can react to the losses. The ins companies then continuously revise their reserves until they have final, final numbers, which will take years.
the insurance companies have to guesstimate their losses ASAP after a disaster to allocate their reserves, and to get info to the media so wall street can react to the losses. The ins companies then continuously revise their reserves until they have final, final numbers, which will take years.
It's All Based Upon Previous Experience.
It's imposssible to get an actual figure this early in the game. They can figure out how many boats larger than a certain size are in marinas, based upon boat registrations. Big business, like the gov't, budgets on prior experience. And adjusts as time passes.
It's imposssible to get an actual figure this early in the game. They can figure out how many boats larger than a certain size are in marinas, based upon boat registrations. Big business, like the gov't, budgets on prior experience. And adjusts as time passes.
75,000 may be low
Peggie, I lost my Catalina 27. I walked the as much of the Back Bay of Biloxi as possible looking for her. I found mostly bits and pieces amongst the debris fields 500+ yards from the waters edge. I did find a few boats that were whole. But they looked like the one in the picture. Before the storm there were at least 15 recreational boats at anchor with the Zydeco, plus others in local piers. After the storm I counted 3 that appeared to be still at anchor but blown were onto both the north and south shore. Couldn't tell the damage. Counting from west of New Orleans to east of Mobile, I think that is a very low number. Remember, the storm went through Northern Mississippi and Alabama still as a hurricane. Plenty of lakes and boats in that area. Check out some Yacht Club/Marina sites for some photos.
Peggie, I lost my Catalina 27. I walked the as much of the Back Bay of Biloxi as possible looking for her. I found mostly bits and pieces amongst the debris fields 500+ yards from the waters edge. I did find a few boats that were whole. But they looked like the one in the picture. Before the storm there were at least 15 recreational boats at anchor with the Zydeco, plus others in local piers. After the storm I counted 3 that appeared to be still at anchor but blown were onto both the north and south shore. Couldn't tell the damage. Counting from west of New Orleans to east of Mobile, I think that is a very low number. Remember, the storm went through Northern Mississippi and Alabama still as a hurricane. Plenty of lakes and boats in that area. Check out some Yacht Club/Marina sites for some photos.
Losing your boat is tough...
I know you have to be hurting. I suspect the estimates are close to accurate...maybe a BIT high to cover "worst case" financial loss. It's always amazed me how 200 boats in the same marina can be destroyed...but in the middle of all that carnage is one that came through without a scratch. Wish yours had been one of those. And at least two more I know about who were lost only a few weeks after their owners had just finished installing a whole new sanitation system with my help. All those emails, phone conversations and their WORK gone!
I know you have to be hurting. I suspect the estimates are close to accurate...maybe a BIT high to cover "worst case" financial loss. It's always amazed me how 200 boats in the same marina can be destroyed...but in the middle of all that carnage is one that came through without a scratch. Wish yours had been one of those. And at least two more I know about who were lost only a few weeks after their owners had just finished installing a whole new sanitation system with my help. All those emails, phone conversations and their WORK gone!
Is my math correct
$2,000,000,000 divided by 75,000 ah hum well about $26,700 per boat? Cheap boats! Not to many new Hunter 380s in that figure aye.
$2,000,000,000 divided by 75,000 ah hum well about $26,700 per boat? Cheap boats! Not to many new Hunter 380s in that figure aye.
Wellllllll, if you look around, you won't
see 75,000 'real' boats, so I reckon they're including a whole lot of trailer boats and small fishing boats. Do you really expect that there are 75,000 'yachts' between Mobile and New Orleans??? Cheers, Bob s/v X SAIL R 8
see 75,000 'real' boats, so I reckon they're including a whole lot of trailer boats and small fishing boats. Do you really expect that there are 75,000 'yachts' between Mobile and New Orleans??? Cheers, Bob s/v X SAIL R 8
Fishing industry
From Central Louisiana through Southwest Alabama you will find multimillion dollar yachts, trailer boats, "typical" marina boats and an entire economy of fishing boats. Here are a couple about 1/4 mile from the water. PS Thanks, Peggie
From Central Louisiana through Southwest Alabama you will find multimillion dollar yachts, trailer boats, "typical" marina boats and an entire economy of fishing boats. Here are a couple about 1/4 mile from the water. PS Thanks, Peggie
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