Post Collision Repair or Total

[jmcdboater]

Read the bottom of YOUR post below the line……..Then read it again.

[CaptainRivet]

Originally Posted by rbrazil

Sorry for your loss.
Take the money and run.

would be my advice too.

[sailorboy1]

I bet I will quicky stop missing all the friendly posters here!

[dfelsent]

I’ve repaired once and totaled once. Not aboard or under way either time. One on a mooring, one on the hard.

The total was emotionally harder but financially easier.
Lucky for me a yard bought and restored the wreck.

I’d turn the boat into cash if possible, and walk away.
Knowing the emotional side is very hard, I’d do it anyways.
The repairs always cost more than the check in my experience.

[nonav]

Originally Posted by 5BTM

Take the check.
Collect interest for couple of years.
In two or three years, given the demoghraphics, sailboats will be practically free.

Boats are never free! 😁

[allen lofland]

Was the fishing boat found not responsible by the coast guard.

[Icarus]

Originally Posted by sailorboy1

From an earlier thread; I had a collision with a fishing vessel that ripped all my mast/sails/rigging away. I have now gotten the estimate, which I feels misses things. I am pretty sure my wife and I are out of boating after this so it comes down to how to handle getting out.

My Agreed Value is $59,900 (under insured because of being in Florida). Right now the estimate is $56,250. I can see missing items on the estimate that would I feel once added will exceed my insurance value. So the choices I see are:

1 - Press to get the estimate increased to more than the Agreed Value, get a check check for $59,900 and walk away easy.

2 - Repair the boat and risk that it will be more than Agreed Value that I have to make up the difference of (if it costs less it means nothing bottom line to me). Then sell a repaired boat that will have new sails, mast, boom, standing and running rigging,new mast lights, radar, VHF antenna. Currently the lowest priced Hunter 410 list for sale is $85k. I don't want to draw out my pain of selling holding out for the highest price so was thinking $80k. Assuming the repair runs $5k over the Agreed Value I would away with $75k

So do 1 and get out easy and collect $60k, or do 2 and HOPE to sell easy and walk away with $75k. $15k is $15k, but I am not sure it is the real driver as there is a lot of emotion still in play.

What would the faceless forums members do?

You say you will out of boating after this?
Take the money, sell what's left...
After all why going through the repair drama if you don't intend to sail on?
What will u get for the hull? 30k ?

[sinnerman]

So , I understand this correctly:

The insurance company pays you the "Agreed Upon Value" ($59,900) and you still get to keep the boat??

-You are 100% positive (??) that you are getting out of boating, at least for the time being and are not emotionally attached to the boat.

If above are both true:

-Take the check

-Sell the boat as-is CHEAP. Any money you get adds onto the $59,900 you already received.

If you get $30K for the boat as-is. then you just put $90K total in your pocket.

BTW: Take off all of the stuff that would not normally be installed on the boat that you can sell easily on eBay: (Example: windlass, radar repeater, etc. dingy, davits.)

My two cents.

Cheers

[sailorboy1]

So my my insurance check is in the mail. Now I need to get rid of the boat so will be listing and asking $20k. Insurance says the boat repaired is worth $107k. The boat can be used on ICW/Florida/Bahamas etc as is and is a great liveaboard boat and of course was setup for extended cruising.

Put out the word to the grapevine

text me if questions at six zero three-674-6681

[skipperpete]

Originally Posted by allen lofland

Was the fishing boat found not responsible by the coast guard.

Both parties are responsible in the event of a collision, the degree of responsibility is established at another time. An official investigation only serves to find out why the incident occurred and how to avoid a repetion in the future ……. not to apportion blame. This is a very minor incident, apparently not worthy of an NTSB enquiry…. No injury or death, no pollution ( other than a mast and sails on the bottom of the ocean creating a hazard to ground trawling) and no salvage, not unlike a minor traffic accident.

[Panope]

20K for a 41 foot liveaboard diesel motorboat with all the modern goodies seems like a bargain.

I'd hack a couple feet off the keel to reduce draft and decrease the roll rate (for comfort).

[hpeer]

Congratulations on dealing with a very difficult situation.

All the best to you.

Thanks for sharing.

[Fore and Aft]

SailorBoy1 its a good chance for someone to convert her to a junk rig just like this Hunter below!
Cheers

[sailorboy1]

Originally Posted by Fore and Aft

SailorBoy1 its a good chance for someone to convert her to a junk rig just like this Hunter below!
Cheers

I don't care what someone converts it to. We have liked our boat, but don't care what the next owner does. Down here in florida it would be a great ICW liveaboard with no need to do the rigging

[Baronkrak]

Originally Posted by sailorboy1

Down here in florida it would be a great ICW liveaboard with no need to do the rigging

So here you are, you can have a great live-aboard for the time been.
I have lost boats but to me boats are the way of my life and also a nice occupation.
You have insurance money to refit think twice before you give away that life.
You have dismasted so what many things can happen when you own a boat.