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Started By
Message
So what happens to all those damaged boats in Florida?
Posted on 9/30/22 at 8:00 am
Posted on 9/30/22 at 8:00 am
Damn shame. Most homes/condos can be repaired, but what about the boats?
4
Posted on 9/30/22 at 8:03 am to bhtigerfan
Insurance buys them, then they probably go to auction. Pretty sure there are guys out there that repair stuff like that and flip em. Kind of like a totaled car. I'd be a little weary of a huge hole in the hull, but other things may be easier safer to fix. 
Posted on 9/30/22 at 8:25 am to BlackPot
Those end up being cash buys. Great deals if you can front cash. You aren’t going to get financing or insurance on a salvage title.
Posted on 9/30/22 at 8:27 am to Purple Spoon
The boat insurance companies are gonna get hosed.
Posted on 9/30/22 at 8:31 am to bhtigerfan
quote:
boat insurance companies are gonna get hosed
Oh no they won't. Boat owners will get hosed with increased rates. Insurance gonna get theirs.
Posted on 9/30/22 at 8:46 am to DownshiftAndFloorIt
quote:Well I guess new boat manufacturers finna eat.
Oh no they won't. Boat owners will get hosed with increased rates. Insurance gonna get theirs.
Posted on 9/30/22 at 8:52 am to DownshiftAndFloorIt
quote:
Oh no they won't. Boat owners will get hosed with increased rates. Insurance gonna get theirs.
Insurance and puss¥ are always undefeated.
And just like puss¥ as much as you may sometimes hate it you pretty much have to have it!!
Posted on 9/30/22 at 9:04 am to Ol boy
wise words.
Posted on 9/30/22 at 9:58 am to Purple Spoon
quote:
You aren’t going to get financing or insurance on a salvage title.
Not true at all. There are hundreds of sailboats sailing around the world that have salvage titles and are insured.
You just have to have in-process inspections of the repairs by the insurance company.
One big hit to some of the boat manufacturers out there will be if Marine Concepts sustained much damage to their facilities. They make a ton of plugs and molds for various manufacturers (contender and blue wave are just two). If they get shut down for a lengthy period, you could see some 2023 model roll outs getting delayed.
Posted on 9/30/22 at 10:04 am to Floating Change Up
Copart fiddin to eat...
Posted on 9/30/22 at 10:04 am to Purple Spoon
quote:
insurance on a salvage title.
not true
Posted on 9/30/22 at 10:05 am to bhtigerfan
quote:
The boat insurance companies are gonna get hosed.
Since when do insurance companies get hosed?
Posted on 9/30/22 at 10:05 am to Sam Quint
quote:
wise words.
yea, if you have the mentality of a teenage boy.
Posted on 9/30/22 at 10:24 am to Purple Spoon
quote:
You aren’t going to get financing or insurance on a salvage title.
Do some states issue salvage titles for boats
10 States don't even issue titles for boats
I have bought two salvage boats. A 24' pontoon boat and a jet ski. I got a bill of sale (Alabama) from the insurance company in both separate deals. Registered them in MS where I live with no indication of salvage on the registration.
I did fiberglass repair on the jet ski. Did nothing to the pontoon boat. It came unhitched while being towed and ended up in a ditch. The boat was racked and out of square. One pontoon was about 2" higher than the other but I didn't care. It floated and drove like it needed a front end alignment
This post was edited on 9/30/22 at 10:43 am
Posted on 9/30/22 at 10:54 am to jorconalx
quote:
yea, if you have the mentality of a teenage boy.
ok, super serious guy.
Posted on 9/30/22 at 11:04 am to LSUintheNW
quote:Okay, maybe not hosed, but they’re gonna be paying out some serious claims.
Since when do insurance companies get hosed?
Posted on 9/30/22 at 12:10 pm to bhtigerfan
Most will be cut up for scrap, with a 10 grand disposal fee
Posted on 9/30/22 at 12:30 pm to bhtigerfan
quote:
Okay, maybe not hosed, but they’re gonna be paying out some serious claims.
To those who have been paying premiums and will now have higher premiums.
Insurance companies don't lose baw.
Posted on 9/30/22 at 1:35 pm to LSUintheNW
I don't know how florida does it, but in Mississippi they won't have salvage titles. Its buyer beware
Posted on 9/30/22 at 1:41 pm to bhtigerfan
quote:
The boat insurance companies are gonna get hosed.
Those types of boats typically have writers that state they have to be so far inland for storms for insurance to cover them.
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