Need advice wrt insurance
 

Hello all,
I hope someone can offer advice. My beautiful 1999 Z280 was damaged in Superstorm Sandy while it was stored on land for the winter at the marina. After two months I was just informed by my insurance company that the boat is considered a total loss.
This was a great surprise to me as most of the damage was superficial. There is no structural damage to the hull or the motor. Minor damage to the skeg of the outdrive. Most of the damage was to the canvas enclosure (a total loss), some minor scratches in the topside fiberglass and graphics and the rub rail needs to be replaced. The bottom needs to be blasted to remove layers of bottom paint that were scrapped off in spots, some minor fiberglass repair to the keel and the bottom needs to be barrier coated and repainted.
They have offered me a $20,000 settlement as well as the right of first refusal to purchase the salvage for a mear $1000...the only catch is they will then cancel my policy. My issue is that I would love to keep the boat and make the necessary repairs as I love my Mariah. I don't think I could buy a better boat for $20k and I am sure I can get it repaired for much less than $19k. Of most concern to me, I am worried that I will not be able to insure the boat after I make the repairs. Has anyone gone through a similar situation? Were you able to re-insure the salvaged boat? I would love to hear other peoples experiences.

Re: Need advice wrt insurance
 

Sorry to hear that Steve.
There have been a few insurance related threads lately , you might try a search , plus I'm sure there are members who can give you some insight.
I myself , haven't had such a experience , knock on wood.

Sorry to hear about your loss.

Re: Need advice wrt insurance
 

I can understand wanting to keep your boat for many reasons. I poked around on some other boating forums. Seems like most people will do the buy back an fix it. The boats will need a "professional" survey before they will insure it...
Another idea that seemed popular was the buy back and part out. That sounds like a lot of work...
This may be a motivational thread for you, maybe he knows how to handle the insurance stuff.
http://www.mariahownersclub.com/foru...094-again.html

I am also sorry to hear that Steve. Can you challenge the adjusters decision? I am not sure on boats, but I have personal experience with a total loss on an exotic car we used to own a few years back. They were quick to a total loss and a low value at that. They also gave us the option to buy it for parts. I was fortunate that I did not have to hire an attorney, but I am thinking that you could use the same process as we did. I would challenge the adjuster and state your reasons why you do not want it salvaged and get some quotes. You need to get detailed with these guys. Explain the hull design and products that went into a Mariah and tell them that there is a huge difference in $20,000 for a Mariah boat and a $20,000 Bayliner. There is "value" there for not being able to replace such a quality boat from most manufactures today. You need to bump up the value in their eyes so they will be willing to look at rebuilding her. It would really suck for insurance and resale options to have a "salvage title." I would fight tooth and nail. Remember, these adjusters want to close their books on your case quickly. And it is only good business practice for them to do so, so I don't fault them at all. But they can't close their books until you sign on the line! Just push back a little and give them a really good education on Mariah boats.

Just my 1.5 cents! I hope it all works out for you!

Sent from my iPad using Tapatalk HD

Re: Need advice wrt insurance
 

I've been through it but boats aren't titled in KS so there was essentially no record of the boat being totaled. Are boats titled in your state?
I also had to push back a lot on their valuation, like csterner explained.

Re: Need advice wrt insurance
 

Boats are tittled in NY. All insurance companies want your VIN# off the hull, so I am sure they could look it up in some central insurance data base and determine that the boat was totalled at some point. Big Brotheris always watching!

I have contacted an independent Marine Surveyor about looking over the boat to provide amo to back at the insurance company. I also will ask him about the inspection to get it reinsurred after repairs are made.

I am really shocked they totaled the boat as the damage is so minor (with the exception of the canvas) that I hesitated to put in a claim. Guess that's what I get!

Re: Need advice wrt insurance
 

tough to estimate replacement when none are for sale right now.

nada says average retail is $21k without trailer in my zipcode.