Here(39)s one for the marine insurance guru(39)s...-gctid394695

[cosmo777]

So, a lot of unknowns and little facts to go on.

But knowing what you know, how do you see this one playing out?

http://bitterendblog.com/?p=15939

[yachtman]

Only one question need be asked. Who did the damage? That is whos insurance should pay for it. That is not how it always goes.

[cosmo777]

Not always the case. The yard usually has you sign a release, claiming liability only on negligence. If they haul it using the sling spots marked on the boat, they're pretty much off the hook.

[Guest]

I don't understand the "new" owner and "old" owner part. There is only one owner, and that is the person that has title. There is a potential new owner, and all the contracts I have done through brokers specify that if there is anything in the survey or sea trial that I don't like or agree to negotiate the deal is off. No matter who ordered the survey and the haul out the owners insurance should pay and then the insurance company can go after whoever they consider to be the guilty party.

[Guest]

Stray Cat wrote:
I don't understand the "new" owner and "old" owner part. There is only one owner, and that is the person that has title. There is a potential new owner, and all the contracts I have done through brokers specify that if there is anything in the survey or sea trial that I don't like or agree to negotiate the deal is off. No matter who ordered the survey and the haul out the owners insurance should pay and then the insurance company can go after whoever they consider to be the guilty party.

Correct answer. The present owner is represented by the broker- but he is still the owner with financial interest in the boat. The owners policy should make the owner right (repair the vessel) then us rotate after the yard and possibly the broker.

[cosmo777]

Pete, you brought in the Broker. Something I hadn't considered. Curious how would they be involved?