insurrance totaled my boat, What the remaining value.

[JJB2]

I know someone interested in the seats, trailer and tower if I could get your phone number or email
Thanks JJB2
JJB777@me.com

[Thrall]

What JimN said!
I doubt they gave you full value if they gave you back the boat too.
Unless you have stated value insurance and they paid out that value. If that's the case....score!
Bet you could sell every part on that boat except for the hull if you have the time/space/inclination to part it out.

[scharette]

Originally Posted by Thrall

What JimN said!
I doubt they gave you full value if they gave you back the boat too.
Unless you have stated value insurance and they paid out that value. If that's the case....score!
Bet you could sell every part on that boat except for the hull if you have the time/space/inclination to part it out.

My insurance policy is what they call 'agreed value marine policy' When you take the policy, you give the market value of your boat. If your boat get totaled, this is the amount that the insurrer owe you. I was surprised myself when the adjuster told me that i would keep the boat.

Look at the highlight.

http://www.waterski-wakeboard.ca/res...wsmartinfo.pdf

[rocket71]

Don't listen to all the insurance talk above. The majority if not all states protect consumers from the type of behavior listed above. A company knowingly offering below "market value" on a actual cash value policy is looking for a class action lawsuit. I would though check to make sure the value they are offering is inline. Mistakes can be made.

If you take out the right policy (which you have) you don't need to worry about any "negotiations". Agreed Value policies are the only way to go whether you have Geico (Ski Safe), Progressive, etc.... Most companies do not even care what you tell them the value is as long as it is under $50k. Over $50k they would want a marine survey.

The fact that they are giving you the Agreed Value and letting you keep the boat is awesome. Take the money and boat and run. Don't fix it, its not worth it. They are likely letting you keep the boat because their cost to dispose less the likely salvage return is not cost effective. You however can part it out and make some nice money on top of your settlement.

[burner]

sorry to hear about your boat! we got our 1994 ps190 as a damaged boat. However, the damage was very minimal in comparison. It had a softball sized hole just below the spotter side window. The boat was in great running condition, and vinyl in great shape also. We offered the dealer $2200 for it and they didn't hesitate to say yes. The boat was on the market for almost 8 months prior to our purchase.. I know it was a completely different model, but hopefully that helps you put things in perspective in terms of what you may get for the boat. If it were me, I would part it out, I bet the windshield alone would bring in a pretty penny.