[C38] Lightning/Fire

[tdtron at earthlink.net]

When hurricane Francis tore up the southeast coast of Florida a few years ago, I had a friend with a very nice boat that broke loose and bounced off a marina before ending up shoaled near the beach on the ICW near West Palm Beach.  The boat's damages were all cosmetic and the boat remained functional.

The vessel was appraised at $30k before the hurricane and declared totaled after the hurricane.  My friend bought his boat back from the salvage department of the insurance company after many months of it sitting on the hard in a nearby overflow lot at a marina waiting for salvage offers.

The boat was repurchased for $6k and after another $10k and a few months of part time "sweat equity" work repairing the damages on weekends the vessel was better than before with all new electronics and sails and topside paint.  The problem was, like after hurricane Andrew of a few years earlier, there were just so many vessels damaged that they overwhelmed the limited buyer market making for very attractive salvage prices.

The boat had been listed for $10k for many months before my friend made the bid of $6k which the insurance company finally agreed to.

Supply vs. demand again.

Tom Troncalli


----- Original Message ----- 
From: Steven Ribble 
To: Catalina 38 Listserve
Sent: 8/31/2011 7:53:31 AM 
Subject: [C38] Lightning/Fire


Very sorry to hear that David, I'm sure the other losses the company is experiencing from Irene doesn't help your claim.  One thing you might try is to have the adjuster give you the salvage value for the boat on top of their payout, that way you might have a chance to get things going again

On Wednesday, August 31, 2011,  <david at dlrfilms.com> wrote:
> Sad news.
>
> On the basis of the photos I sent him and against the insured value of the
> boat, the surveyor/adjuster is pretty sure INTEMPERANCE is a total loss.
> This won't be confirmed till he can inspect the boat in person, but he's
> already discussed it with the home office, and that's what we're getting
> ready for.
>
>
>
>
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-- 
Steve Ribble
207/852-0971
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