Damaged running gear

Just an update, it looks like one strut is bad and needs replacement. He quoted me 3k for one. Both prop shafts and props have been sent out for straightening and repair. I have a 5k deductible on my policy. Praying I get this all back before nov 6th.
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.
 
Lawrence, its not what you should do, its what the insurance company will do, you are just an bystander at this point.
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.
 
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.

The Yard wins either way so they don't care. If the insurance company pays they get the work and a steep markup on the parts, labor and storage. If the insurance company totals the boat......my guess is that the Yard will charge them $30k to break the boat (yard can sell salvage parts for upside) and for the diagnostic and storage fees. My guess is that the Yard has a lot of experience pricing so they can get paid to break the boat.

Agreed to value is agreed to value.......so the only real losers are customer's who have the same insurance.
 
The Yard wins either way so they don't care. If the insurance company pays they get the work and a steep markup on the parts, labor and storage. If the insurance company totals the boat......my guess is that the Yard will charge them $30k to break the boat (yard can sell salvage parts for upside) and for the diagnostic and storage fees. My guess is that the Yard has a lot of experience pricing so they can get paid to break the boat.

Agreed to value is agreed to value.......so the only real losers are customer's who have the same insurance.
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.
 
I hope this works out well for you I really do. Unless there's some way that you can get another boat if they do decide to total it I know that's not a lot of money to spend on a good size boat but I hope you do all right
 
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.
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.
Fortunately for us, they gave us replacement value for a new car. That aint happening on an 87 boat. so detail how you intend to press for objectivity for victims.
 
I hope this works out well for you I really do. Unless there's some way that you can get another boat if they do decide to total it I know that's not a lot of money to spend on a good size boat but I hope you do all right
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.
 
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.
Who is ranting and raving now?
I'm sure your concern for the op's situation makes him feel better.
FFS
 
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.
Fortunately for us, they gave us replacement value for a new car. That aint happening on an 87 boat. so detail how you intend to press for objectivity for victims.
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.

As a side note my roof on the house was just replaced due to hail damage. Roofing company sent an estimate to my insurance company for $75K for a roof job that shouldn't be over $38K; in fact the detailed breakout that I asked for was less. I had to get in the middle of the mess to get to a reasonable value to try to help control future rates.
 
To bad it’s not handled like car insurance claims although not entirely a pleasant experience in my experience the
insurance company and repair facility work better together. Seems like games can be played here by the boat yard.
 
To bad it’s not handled like car insurance claims although not entirely a pleasant experience in my experience they insurance company and repair facility work better together. Seems like games can be played here by the boat yard.
That is interesting that they ordered the parts and sent other pieces out for repair without you or the insurance company authorizing the repair.

Did you sign something which would give them a legal basis to take on those expenses?

I would never do that without a Client's or Insurance company's written authorization for the expense.

As I mentioned previously......some Yards operate in the gray zone and have figured out how to get extra money out of Clients and their insurance companies.

I will amend my previous prediction to include your insurance company paying $36k for the repairs and you getting stuck for the $4k deductible. At which point your insurance company will drop you as a customer since they met the Agreed To value, the Yard will be getting their Christmas bonuses early and you will get your boat back.

That actually is the cheapest solution for the insurance company which the Yard has undoubtably already figured out. Anything other than that is $35k to you and another big expense $20-30k to have the boat broken by them.
 
That is interesting that they ordered the parts and sent other pieces out for repair without you or the insurance company authorizing the repair.

Did you sign something which would give them a legal basis to take on those expenses?

I would never do that without a Client's or Insurance company's written authorization for the expense.

As I mentioned previously......some Yards operate in the gray zone and have figured out how to get extra money out of Clients and their insurance companies.

I will amend my previous prediction to include your insurance company paying $36k for the repairs and you getting stuck for the $4k deductible. At which point your insurance company will drop you as a customer since they met the Agreed To value, the Yard will be getting their Christmas bonuses early and you will get your boat back.

That actually is the cheapest solution for the insurance company which the Yard has undoubtably already figured out. Anything other than that is $35k to you and another big expense $20-30k to have the boat broken by them.
I didn’t sign anything. Your solution would be acceptable to me.
 
Not sure how that is relative to the discussion.. (or is the OP fron Ontario)
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.

Does that pass your "relativity test"??
 
@Lawrence Falco

Any update? Hoping for good news.
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 guess they can show him that. I am concerned about what will be covered as I do not have the means to pay for this repair. My assumption that the boat yard would steer me in the right direction may come back to bite me in the ass. I assumed that they new the process of filing a claim. I will speak with the yard tomorrow and get some further details maybe I am just panicking. We will see.
 
God I sure hope everything works out all right for you That's just a bad accident that happened and you really can't blame anyone I just hope everything goes good for you I really do
 
And another thing I don't get why the cost is so high to fix that it seems a two or three times what it should be
 
And another thing I don't get why the cost is so high to fix that it seems a two or three times what it should be
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 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.
 
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.
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.
 

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