there's something unsettling about making good from someones misfortune, especially with a boat, but...
That's what I'm looking to do, I have the time to make repairs, and do them right I hope, just need that blank canvas as it were
Don't feel bad about it at all. When my boat was totaled after Katrina, it was a huge relief. My home was damaged & my business was temporarily closed. I didn't have the time nor desire to deal with a severely damaged boat. The local repair yards that are fortunate to still be in operation are overwhelmed with damaged boats; therefore, its very difficult to get into a yard and get repairs done in a reasonable time. The yards may be full to capacity and may not allow do it yourselfers to tie up their avaiable space.
When the insurance company does a total payout for the insured value, you most likely will get a larger payout than the boat is worth on the market prior to the damage . Most of us have our boats insured for an "agreed" value at the time of purchase and even though the boat depreciates over time in the market place, the payoff remains at the "agreed" value.
Interestingly, some insurance companies will total a boat and payout the agreed value and then allow the owner to repurchase the boat for a deeply discounted value that is negotiable. Otherwise, the insurance company will have to haul the boat from its present location to an auction lot where it will be auctioned for very discounted amount. After hurricane Ike that hit Texas several years ago, I planned a trip to see a late model boat that was in a salvage lot that was scheduled to be auctioned. I received a call from the insurance rep and was informed that the boat was repurchased by the owner. After Katrina, I knew individuals who were able to repurchase their smaller power boats after being totaled.
Finally, there are national auction companies that setup salvage yards in the vicinity of hurricane disaster sites. You can go to the yard on the auction date or in many cases the auctions will be listed at online auction sites. Check periodically on EBay and National Yacht Auction's sites in a month or two.
