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Alan Gomes

wrote:
On Feb 15, 10:13 am, "KLC Lewis" wrote:
wrote in message

ps.com...

snip
I bet the Marina in the Key's deal with the issue of insurance boats
all the time. Work yards make money working, not storing boats.
Rather drastic, Joe. From what I've seen and read from Skip's reports,
Flying Pig is bruised, but hardly broken. "Totalled" is only an insurance
company's description of a boat they think will cost more to repair -- at
yard and contractor's rates, to put back into the same condition as she
was -- than she is worth. A cheap yard and plenty of sweat equity on Skip
and Lydia's part can heal the "ouches" and put FB back to rights again for
substantially less.- Hide quoted text -

- Show quoted text -

Hull compression, blown out bulkheads, removing the interior,
ect..ect..ect is totaled IMO at 140K. If the insurance knows he want
to keep the boat then he will deal with 30+ salvage, yard fees,
transport, temp living, supplies, surveys,re-insuring,
ect..ect...ect....then the insurance is going to say the boat is worth
50-80K as-is leaving Skip a total of not much to work with. If he
walks with 100K he could find a nice replacement and avoid lots of
grief.

And most likely the insurance company will sell the boat on ebay for
next to nothing here in a few mo's.

Joe

Assuming they do repair the boat I wonder if they will experience any
difficulties getting insurance the second time around--more so than if
they just obtained a different boat that had not been subjected to a
grounding? Just wondering....

--Alan Gomes

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