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Four winns and insurance

Old 06-09-2019, 07:18 AM
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Default Four winns and insurance

Haven't dealt with USboat yet but i have a claim for my 1997 vista 258 it needs a new outdrive and props. Guy said parts alone are 10,500. Boat is worth 10.900 what are the chances they will total it, probably high since repairs are more than boats value? Waiting for am answer but i think if they total it ill get a sea ray sundancer 280, 290 or the one i really want an amberjack 290
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Old 06-09-2019, 07:19 AM
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That sounds high for just parts. What outdrive do you have on the current boat and what happened to it?
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Old 06-09-2019, 07:25 AM
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Volvo penta duoprop think its a DP-SM. He said outdrive was $9500 and props were 750 each. And then labor. I wouldnt mind if they totaled but but it sucks cause has a new engine with only 85hrs on it. And guy i bought it from put at least 15000 into it to restore and sell it.
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Old 06-09-2019, 07:36 AM
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Insurance companies are strange. Some times they don't want to deal with it and total it out and other times it almost appears as if they are willing to score eBay looking for parts. The price your mechanic quoted was the "I'm going to put no effort into shopping around and controlling costs" price. Don't be surprised if once the insurance company gets involved somehow the parts are significantly less.
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Old 06-09-2019, 07:41 AM
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Yeah he went new from volvo
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Old 06-09-2019, 08:03 AM
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They will probably depreciate you way down, 20 plus year old drive......depends on you actual policy. 10-20% a year depreciation is common.
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Old 06-09-2019, 08:19 AM
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If they are gong to pull that shit I'll pull the new engine out and give turn a shell
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Old 06-09-2019, 03:11 PM
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Originally Posted by pavetim View Post
If they are gong to pull that shit I'll pull the new engine out and give turn a shell
Well, no you won't. Not if they are paying any attention. If they pay policy limits then they get the boat and ALL it's equipment. Props, electronics, life jackets, anchor, etc. If your engine were stolen would you expect them to cover it? Then it's boat equipment. If your electronics, anchor, etc. were stolen would you expect them to cover it? Then it's boat equipment.

You get to remove personal equipment - fishing tackle, tools, dishes, linens.... But not boat equipment.

Maybe they pay attention, maybe they don't. But you are not entitled to remove any boat equipment. And the engine is obviously boat equipment. Read your policy. I promise that BoatU.S. will do everything the insurance contract (i.e. the policy) says they should do. And then some. In return they will expect you to do everything the contract says you should do.
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Old 06-09-2019, 03:28 PM
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Your right I won't but I hate the way they word the fine print. I Don't think they will pay for a new one since policy said with like equipment, so whats that mean find a used 20 year old drive and use that lol. I really hate insurance companies i had to get a lawyer one time for usaa
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Old 06-09-2019, 03:41 PM
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Ok i read the policy fine print, the depreciation is for repairs, for total loss there isn't a depreciation, only unsured value which is what i paid for it. Even remanufactured omes are pricey, i found a remanufactired top druve for $4000 and thats not even the bottom part, so pretty sure it will be totaled. Time to find a nice amberjack
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Old 06-09-2019, 04:19 PM
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A total loss refers to any damage
Actual Total Loss – Damage to the vessel or cargo is beyond repair.

Constructive Total Loss
Damages to your boat are repairable but the costs for repairs are greater than the value of the vessel.
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Old 06-15-2019, 03:15 PM
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Well they totaled it but are paying me the valued amount. Gave me the option to buy back cheap and keep it. I may already have somebody willing to buy it but how do boat titles work. Would it get a salvage title or just keep the title I have? I know cars it would get a salvage title but boats im not sure about.
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Old 06-15-2019, 06:18 PM
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Why would you even want to be involved? Let the person who wants it talk to the ins company
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Old 06-15-2019, 06:25 PM
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Not what i am asking
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Old 06-15-2019, 06:57 PM
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Originally Posted by pavetim View Post
Not what i am asking
Your quote.
Gave me the option to buy back cheap and keep it. I may already have somebody willing to buy it but how do boat titles work.
That's why i asked why would you even entertain something like this.
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Old 06-15-2019, 07:00 PM
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Because of i let them scrap the boat i have a brand new trailer that will probably ne tough to sell. If i do what I am planning I won't lose any money. Trailer not part of the claim, plus i would end up making 500
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Old 06-16-2019, 12:12 AM
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Originally Posted by 74lbSteve View Post
Well, no you won't. Not if they are paying any attention. If they pay policy limits then they get the boat and ALL it's equipment. Props, electronics, life jackets, anchor, etc. If your engine were stolen would you expect them to cover it? Then it's boat equipment. If your electronics, anchor, etc. were stolen would you expect them to cover it? Then it's boat equipment.

You get to remove personal equipment - fishing tackle, tools, dishes, linens.... But not boat equipment.

Maybe they pay attention, maybe they don't. But you are not entitled to remove any boat equipment. And the engine is obviously boat equipment. Read your policy. I promise that BoatU.S. will do everything the insurance contract (i.e. the policy) says they should do. And then some. In return they will expect you to do everything the contract says you should do.
Life jackets would not be part of the "boat equipment" unless fixed mounted. Agreed everything that is fixed remains, but anything portable is fair game to remove. You think your portable VHF radio that you remove every night would have to stay? If you forgot it at home, you would have to go home and throw it back in the boat for the insurance company? lol
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