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Help with insurance company

Old 10-09-2008, 05:21 AM
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Default Help with insurance company

Can anyone tell me how i should handle my insurance company??? My boat sank in salt water on saturday night and I got it pulled on sunday. It then sat for 3 days until the insurance company did anything. The machanic said its totalled and the insurance company says its ok. Anybody have any inf for me?? ;?
Old 10-09-2008, 05:47 AM
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Default Re: Help with insurance company

What kind of boat, how deep did it sink and what, if any mitigating action did you take? Did the Ins. Co send an adjuster or surveyor? What Ins. Co?
Old 10-09-2008, 07:23 AM
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It sat for 3 days till the insurance company did anything??? It is YOUR responsibility to do something to save it.
Old 10-09-2008, 08:17 AM
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Default Re: Help with insurance company

Mitigating is one thing, but trying to save what's probably a dead boat isn't the same thing, IMO.

If the boat and engines were underwater for 12 hours or better, I can't imagine anything being saved. If the owner spends $$ with the boatyard, there's no chance he'll get reimbursed by the insurance company unless it was authorized.

If the owner notified the company on Sunday and didn't get instructions for what to do to the boat, then if it were me, I'd let the boat sit, too.
Old 10-09-2008, 08:37 AM
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Default Re: Help with insurance company

"sank" is a relative term. Much like "re-built engines"

Bow-down-stern down, outboard, inboard, flooded or under freaking water. Batteries dead or charged all play a huge role. Plastic or metal fuel tank? Age and value of the boat. 75-80% is where the decision is made. Did he wash it out with fresh water and remove the textiles and flotsam to avoid mildew? I nor anyone else can help the OP without a lot more info. If he chooses to answer a few questions this board is capable of providing him with advise.
Old 10-09-2008, 08:47 AM
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Default Re: Help with insurance company

Yes, Need more info. What ins co? If the engines were under water and then sat in air for 3 days, it is totalled. Like Baitkiller stated, there are issues with battery discharge also. If the ins co is being difficult about it, I would hire a licensed reputable surveyor to complete an analysis and appraisal of the damage. Then you can present this evidence to the company to show it is indeed totalled from a cost-to-repair vs. value perspective.
Old 10-09-2008, 11:02 AM
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Default Re: Help with insurance company

Your thread makes no sense at all. You say your boat sank and the ins co. said it was just fine? Say what you want about ins. co. but that just does not even add up. So whats the real story? Did the Ins. Co. say that it might not be a total loss or they need to inspect the boat?
Old 10-09-2008, 11:15 AM
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Default RE: Help with insurance company

There's a lot of good info here........similar time frame.

http://www.thehulltruth.com/forums/thread-view.asp?tid=211117&start=1
Old 10-10-2008, 04:05 PM
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Default Re: Help with insurance company

Hey Carblo,
How do you figure it is the owners responsibility to do something with it? Obviously you have not had such an issue in your short little boating lifestyle--and good for you--but why would an owner who pays his premiums responsibly take any action without his insurance cos. permission? Suppose he has a yard or dealer service his boat with the expectation of getting re-imbursed and the ins. co. tells him it is a total loss and there was no sense in spending addititonal funds on it. Whoever salvaged the boat should have taken any neccessary precautions to preserve it and minimize damages.
Old 10-10-2008, 04:27 PM
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Default Re: Help with insurance company

of course the owner and the yard would get paid for any time and expense to raise the boat out of the water and to pickle the motors and at least rinse things down.

Even if its a total loss the yard gets paid, they usually end up with a pretty decent storage and loading fee as well by the time the salvage boat is removed from the property
Old 10-10-2008, 05:05 PM
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Default Re: Help with insurance company

Generally speaking, it is your responsibility to protect the boat from additional damage once it is pulled out of the water. That usually means providing security as well as getting it out of harms way where it could become further damaged.

Does that mean you need to pickle the engine(s) on your own initiative? I'm not sure it does, but it certainly couldn't hurt to at least make an effort.
Old 10-10-2008, 05:17 PM
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Default Re: Help with insurance company

el capitan - 10/10/2008 6:05 PM

Hey Carblo,
How do you figure it is the owners responsibility to do something with it? Obviously you have not had such an issue in your short little boating lifestyle--and good for you--but why would an owner who pays his premiums responsibly take any action without his insurance cos. permission? Suppose he has a yard or dealer service his boat with the expectation of getting re-imbursed and the ins. co. tells him it is a total loss and there was no sense in spending addititonal funds on it. Whoever salvaged the boat should have taken any neccessary precautions to preserve it and minimize damages.
Hey dickhead. I am in the business and have been for 23 years so blow me. He stated that the insurance company did nothing was what I based my reply on. I do marine insurance repairs all the time.

And YOU said whoever salvaged it should have taken necessary precautions after it was raised. What if the owner raises it??? He then needs to do something. If Sea Tow raises it they usually recommend towing to a repair facility to have it preserved as best possible. To raise a sunk vessel and just let it sit is wrong and that is all I said.

And having a USCG masters license means I probably have a little more boating experience than you "El blowhard Capitan"
Old 10-10-2008, 05:42 PM
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Default Re: Help with insurance company

el capitan - 10/10/2008 6:05 PM

Hey Carblo,
How do you figure it is the owners responsibility to do something with it? Obviously you have not had such an issue in your short little boating lifestyle--and good for you--but why would an owner who pays his premiums responsibly take any action without his insurance cos. permission? Suppose he has a yard or dealer service his boat with the expectation of getting re-imbursed and the ins. co. tells him it is a total loss and there was no sense in spending addititonal funds on it. Whoever salvaged the boat should have taken any neccessary precautions to preserve it and minimize damages.
Sorry, you could not be further from the truth. The following is standard in virtually any policy that provides 1st party coverage for damages, whether be a car, boat, house, etc:

Duties After a Loss:
Take reasonable steps after a loss to protect the property from further loss. We will pay reasonable expenses incurred in providing that protection. If failure to provide such protection results in further loss, any additional damages will not be covered under this policy.


If you get into a car accident and your rear widow is smashed as part of that damage and you call your insurance company and they say they are sending an appraiser out the day after tomorrow, do you cover the window with a bag and tape? What if the forecast is rain? If you don't and the interior gets soaked and ruined, they do not have to pay for it. Simple example, but the principle is the same.

If your car/boat, etc. is totaled, they would still pay for reasonable steps taken.
Old 10-10-2008, 05:44 PM
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Default Re: Help with insurance company

I think most insurance policies have some wording that states that it is the insured's responsibility to "protect the property from further damage". Only been in the insurance business for 25 years so I could be wrong.

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