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boat loss due to sinkage I need insurance help


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Posted by bruce on July 02, 2002 at 17:37:10:


My boat sank and the insurance company wants to repair it. They allowed me to send it to the shop of my choice. Now the shop is having a hard time acquiring parts from the manufacturer and says it will take several more months minimum to repair the boat. The insurance adjuster said at or above a particular undisclosed repair cost they would pay me the full benefit of the policy and scrap the boat. I would like to see this happen so I may get my wife into a boat ASAP and one we are not afraid will sink again. What if any action may I take to encourage or demand total loss or a speedier repair. Anyone that can help me please reply. The boat is a 2001 bayliner ciera 2855 and has a book value between 50,000 and 63,000 it is insured for 50,000. The insurance company is nationwide



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Posted by tonyb on July 04, 2002 at 04:54:15:

In Reply to: boat loss due to sinkage I need insurance help posted by bruce on July 02, 2002 at 17:37:10:

In a nutshell a total loss is one where the estimated repair cost, less the salvage value, exceeds the value of the boat. You may want to have a hand in establishing those three factors. If you do a search on http://www.disasterprepared.net/board/index.html for "total loss" you will find several references and total loss rules to help guide you. Have you filed a formal claim? You may want to look at:

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