: Boat wreck
08-12-2008, 08:10 PM
I was in a wreck last weekend and my 14' lightweight aluminum boat was rear ended. What can I expect from the guys Ins. for repair or replacement. The Truck he drove was totaled my motor only looked like prop damage the transom was tweaked and the struts were broke loose also lost a couple of rivets and the seal around the transom was broke so water seaped through also the trailer was messed up the stanchion and bunk were damaged.. I bought the boat motor and trailer for 3 grand in 2002 and am wondering what they might do for Ins. purposes.The cost of replacement boat has skyrocketed because of Aluminum prices. Don't want to get the shaft the boat only had limited use for 5 years. Any advice would be appreciated.
remember you were rear ended, as long as all your brake lights were working and you did not contribute to his hitting you, then his ins has to settle with you. if their initial settlement offer is not acceptable to you then reject it and tell them exactly what you expect. I doubt you are going to get a brand new boat, however you are entitled to a replacement boat of equal value to the one damaged, unless ofcourse it can be repaired back to original condition. Get 2 or 3 appraisals of your boat from reputable dealers and start there.
08-13-2008, 07:23 AM
I asked my insurance agent what would happpen if my boat sustained a lot of damage or was totaled. He said that if I wasn't satisfied with a cash offer and wanted it replaced they would have to find the same boat in the same condition somewhere. I had a year old 14 foot boat rear ended and it was replaced with a new one of the same year by my insurance company. I was lucky enough to find a new boat of the same year at a dealership. The boat had an oil can in the transon and if you looked from the back of the boat to the front it had a twist in the hull. Of course the insurance company tried to get me to settle for $125.00 appearance damage. I insisted that the boat be replaced by the same thing. It took a bit af arguing with a claims adjuster, but I got what wanted.
08-13-2008, 07:26 AM
Any rear-end accident that involves damage to your trailer has the potential to damage your trailer hitch as well. Have that inspected and if there is any damage, have it replaced as part of the settlement. This is a safety issue. Damage now can lead to failure of your hitch, maybe years later, with loss of trailer and...
08-13-2008, 07:43 AM
Hopefully, at the time of the accident , you called the police, got a police report ,got all of the other guys insurance info. Then you must make a claim on the other guy's insurance. They should then send an
adjuster to examine the damage. They may ask you to take it into a boat dealership repair shop so they can work with them directly to assess the damage cost. If repairable,they should go ahead and fix it. If the damage repair cost exceeds the value of the rig, or is not repairable they will probably just total it and pay you the cash value of the rig (not necessarily what you paid for it). It is unlikely they will BUY you a replacement rig.
If you are not happy with what they want to do,you do not necessarily have to settle. In cases of a total,many of these problems are due to a disagreement on the value of the rig. If they fall short of what you think you should get, you may have to show them what it would cost to replace it with equivalent. Assuming you have your own boat insurance,You can also contact your company, let them know what is going on,(you should anyway) at least start a claim process,see what they will do, in comparison. You should not have to do this,but depending on how the other company treats you, You may have to. They may also assist you on determining the correct value of the boat, motor and trailer,so you can get a fair settlement.
Of course,if things go bad,getting an attorney involved is always an option.
08-13-2008, 06:00 PM
Also should have the trailer checked for alignment, from what you describe it could have more than just visible damage. The lower unit gears should be pulled too. If the prop took a hit, the seals of the carrier bearing might be damaged and allow water in, and the prop shaft could be bent too. So all this can add up quickly.
08-13-2008, 09:05 PM
I am a little bias here. Insurance companies suck. Plain and simple. The sad fact is we must have it.
Be prepared to contact your lawyer.
Since you were rear ended, don't overlook the possibility that you may have damage to your tow vehicle.
Have your tow vehicle carefully checked by a good body shop.
Sure, you are going to get crush effect from the trailer and boat getting shorter, but some of the impact was certainly transferred to the towing vehicle.
08-14-2008, 09:21 AM
I recently had a similar situation except my trailer was a utility trailer that was rear ended. What I did was to contact my insurance company and settled wtih them. They actually paid me $600 more than what I paid for the trailer. The $500 deductable was waived since the accident was not my fault. Now my insurance company will deal with the company of the person that hit us.
Just a thought.
08-14-2008, 09:43 AM
First thing you have to know....There has already been a maximaum settlement figure drawn up by some bean counter that is only concerned with profit.....Not in your best interests.
The insurance company will insist you accept book price for your boat motor and trailer, definitely will be a lowball offer.
I had this happen once, and I told the insurance rep I would give him 2 weeks to find something similar for that amount, he couldn't, and then the conversation became 2 sided.
Stand your ground and don't be in a hurry, Insurance company's know the faster they settle, the better off they are.
Have your vehicle inspected at a reputable frame and alignment shop. Bring that into the settlement.
The boat motor and trailer are a total loss.
Don't forget your time has value also.
Insurance Companies, rip so many people off, smile all the way to the bank, knowing full well they did not do a "Fair" deal......
08-14-2008, 11:15 AM
Thanks for all the info. Still waiting for an estimate from the marina they are backed up and should get to it today.