Calling Capt. Art

rnbenton

rnbenton

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Art, I was just sitting here re-reading your OP and didn't want to tag on to the tail of a very long thread so I started this one.

Just wondering how you and your Admiral are doing and how you are progressing with your claim. Have you been able to get a diver to your boat yet?

That's all, just wanted to make sure you're still hanging in there.

Bob
 
I've been trying to gather all the things the insurance company has asked for?
Rapir records & receipts for parts. Receipts for everything I say was on the boat. Upgrades to all the electronics I put on. Very hard since so much was done cash. Trying to nail down an item where & when it was purchased & then proving it was on the boat is very hard. I'm doing it but it's not easy? Many years have passed & my mind is mush on what exact repairs were done. I've had a few different people working on the boat & all I paid cash. The stuff on Creidt cards is easier. Thank goodness I didn't keep my records on the boat. I never claimed the boat as any sort of a deduction. There was no reason to record all I spent. Actually, it was better not to know what I was spending. It would have put a high price on my enjoyment. All I remember was the good times & fun not the costs? If we look hard at the costs alone boating doesn't make any sense. Now in hindsight WOW!!! I must have had two wives :)
 
Art,
Why are they asking for repair records and parts receipts? That shouldn't have any bearing on your claim,repairs and parts are for normal wear and tear. The hard-adds (upgrades) and contents I understand. Unless they are trying to figure out how to nail you on depreciation. Meaning, "Art, you boat was 8 years old and you can't prove you spent a nickle on maintenance, so instead of highest X value for a well maintained and super clean, the medium Y value for average, we will pay you the low Z value for a floating shack."
Best of luck getting your claim processed and settle quickly and FAIRLY!!!
AJ
 
If he has an "Agreed Value" policy, depreciation does not come into play. If the loss is covered, he will get the total amount of the "Agreed Value" plus any "Sue and Labor" cost, if applicable. If the policy is a "Actual Cash Value" he's SOL. Most common hull policies have a $500.00 to $1,000.00 limit on personal items. That is anything that is not permanently affixed to the boat like fishing gear, diving equipment, expensive art work, cooking equipment, tools, watches, jewerly, computers, ETC. You can purchase an addtional rider to cover those items, other than that you can try to make a claim on yout home owners policy, but good luck.

Art's predicament is also a good argument to have a survey preformed by a Competent Marine Surveyor every two years or so. That way you have a statement of condition and a list of equipment on board.
 
I have a Stated Value Policy plus a $10M small amount of other content. I can get over $10M in the first few lines with what I've added to the boat. KVH Tracvision 4 Satellite TV, twin Northstar 6100i displays I'm already there. But if they wanted items, I have already a few pages of iron clad line by line.
 
man I may buy that MM carver pilothouse on ebay myself!
 
equipment is covered part of the boat, if you added equipment that increased the value (Trackvision, displays) the value should have been raised up, I dont see how they are going to cover that under the owners belonging coverage.
 
Tony,
Thats a great deal but I don't think that is the price. Its a starting bid.
But it is a really nice boat.
That could qualify as my retirement boat!
 
MArine max emailed me today with a list of boats that had to be cleared out by Sep 30-I think that carver was one of them.

Another alternative Art is a marine saavy insurance adjuster(who contracts with you). I have a client who is a boat closer, sort of a mortgage gal for boats, closing, delivering. I can get her opinion or tips on what to looks out for etc. if Interested.
 
Pascal, in a way it was a blessing Zurich got out of writing marine policies. It made me do what Art is doing as well as get a new survey and sea-trial. I did this thinking if I sold the boat a broker would have a big list seperating my boat from the average Mainship 40SB. I am fortunate in that I have only had one mechanic do or co-ordinate and pay for all improvements (my marina). The electronics and items I paid for directly went on an .XLS spreadsheet with the description, who I bought it from the date and amount. All the mechanical work, repower, custom arch, hardtop, plumbing and waste system work is all in about a 3" file of invoices in the marina offices and each check that was paid to the marina is on Quickbooks.
Art your right when you look at all the money one can spend on a boat it really makes you wonder. This is the 1st hobby my wife and I actually agree on (except the diesels conversion part).
Art you can have all the fun of purchasing a boat that might have a lot of the equipment you installed as upgrades with this bad economy. I have an agreed value policy as well with a 25k electronics limit (I paid a premium for that). I'm way past that limit.
Glad to hear you are moving along with your insurance company Art then you have the winter to find a great replacement. There are lots of nice buys out there right now. There are also lots of neglected boats but I'm sure you will end up with the boat you want.
Bill
 
I'm already over 80 documented items (anything over $100. with receipts) & I'm not even trying? They range from $3500 down. Labor is the missing link. All cash. Lots of parts too but my mechanic will have some of it? My yearly Volvo Filter kit is $1500 by itself. I never bought an off brand or unbranded filer for use on my boat. All new/almost new batteries. I just had her waxed on 8/23.
 
It adds up real quick Art. My KVH Satphone and FLIR Navigator II are almost $15k alone. Then add (8) 31 series Lifeline AGMs and (3) 8D Lifeline AGMs thats not even scratching the surface. It is easy to forget all the stuff we purchase and put in our boats. Well lets just say I would call it an obsession!
Bill
 
Exactly. The FLIR was on my list of goodies that I didn't have...yet.

I understand that the KVH Tracvision M7 System is the replacement system for the older one I had (KVH Tracvision 4).
Anyone know the approx cost of this system - Since they want to know replacement value?
 
i still dont' get it... if you have an agreed value policy, that's what they'll pay for the boat and its equipment. period. Electronics, upgrades, etc will not be covered separetely since they are considered to be part of the boat.

the only thing that maybe covered woudl be personal belongings and tender.

read your policy carefully before jumping thru hoops for nothing, excpet feeling even more depressed about the loss.
 
I understand what you're saying but what determines personal property? Are things like the added electronics personal property? I had a brand new in the box portable DVD Player that I intended to hook up to the TV System but never got around to it? How about charts both electronic & Laminated book types? CD's VHS Tapes? I has a custom tape I liked to play when we left the dock with a bunch of people. The first song was the Theme Song from Gilligan's Island. Not too far off the mark. Was my automatic Bar personal property? I'd guess the alcohol was all persoanl but the bar?
 
you need to talk with your agent, or may read the fine print on the policy. my guess (and it's just a guess) is that things that are permanently installed (automatic bar, electronic devices incl. entertainment systems) are part of the boat and covered under the agreed value. you shouldn't have to supply any receipts for these.

again, MY interpretation, check the fine print and definition of your policy.

other things like CDs, tapes, books, clothes, laptops, cameras, etc... would be personal property and woudl have to be documented.
 
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