Is 5K normal deductible we have 1K and premium is 1,800 a year. Up 600 from last yeat but I had a 10K claim when due to prop and hull damage. Insurance company had no concerns about our skill we contacted un charted object.
It is exorbitant claims that contribute the cost of insurance. No way I'd be a "bystander" but rather press for objectivity and reasonableness for all of the insurance paying victims.
Ugh, getting a bad feeling on this. Looks like I am a screwed either way. I like to be in control when repairing my boat as I have done almost all the repairs myself in the past.
In English please. I just went thru this with a car wreck. You are getting paid what they pay you. and you can rant and rave and hold signs and protest outside their corporate headquarters all you want, you aint getting a dime over what they choose to give you.
Thank you Scott, I really do appreciate the kind words. I guess I will find out by Monday or Tuesday. In the meantime, the yard has ordered all the repair parts. I hope if this all goes south they can return them? Not sure what happens with the disposal of the boat. I’m leaning towards keeping her if I can as I have two Cummins 6bta’s with less than 800 hours on them. They have considerable value and there is nothing wrong with them.
Who is ranting and raving now?
I did use big words sorry. The OP said the yard wants $36K to repair the boat. Any reasonable person would say that is unrealistic. Hypothetically, the yard knows the agreed value and has set their repairs at that value. Insurance pays out the owner and yard gets the boat as the insurance company wants it unloaded. We the get the bill in higher rates.
That is interesting that they ordered the parts and sent other pieces out for repair without you or the insurance company authorizing the repair.
I didn’t sign anything. Your solution would be acceptable to me.
Its relative in the sense that insurance does have many consistent attributes even though it may be a different jurisdiction. There are basic fundamentals that apply wherever you live. For example, I own a condo in Florida am an not interested in insuring my contents - just liability. After a few calls i find that no company in Florida will offer liability coverage only. I shouldn't be surprised since it's the same rule for condo insurance policies here in Ontario Canada.
I was contacted by the insurance company, due to the extent of the estimate they are now sending out a marine surveyor to assess the damage. I am not sure as to what will happen now as the yard has already dismantled the running gear and ordered the repair parts. I know they kept the old stuff so
I hear ya I don’t know why either. They were only able to salvage one part that could be straightened so everything else is new.
I was told by the prop shop in FL that if the shaft is not broken it can be straightened. I saw some really mangled props on the shop floor and he said they were all repairable. It’s a shame you don’t have access to a better shop that can repair vs replace.
The problem I think I am going to run into is that the insurance is going to say it’s a total loss especially at these prices they are charging. I would then need to buy the boat back from the insurance company and then pay for the repairs.
