Dealing with insurance-gctid807577

[Karl_Hungus]

Hello everybody. I think I have a problem on the horizon and would love to get a little insight so I'm ready to negotiate when the time comes. I wrecked my boat and I think they're going to total it. I have an actual cash value policy with Boat US and the NADA guide says it's fair market value is $19,250 and I owe the bank 13k to pay it off. The deductible is $500 and the damage was estimated at 15k. They are sending a surveyor out next to verify that none of the damage is from an earlier incident. It clearly isn't so it wont be a problem. I put work into it and I want to keep the boat. From what I'm seeing it's about 7k or so to fix it. What is a fair price to pay for the boat if they total it ? I don't want to low ball them and lose my boat to some salvage company. I'm in a jam here because whatever I do I'm gonna have to come up with the $$$ to fix it. Granted I wouldn't have a payment anymore so that's pretty sweet but I'm probably going to lose the season over this. I guess the biggest thing right now is to make sure I get the boat back without overpaying for it. I'm seeing all different percentages people recommend for salvage value out there. Has anybody dealt with this before firsthand ?

[boatworkfl]

"Karl Hungus" post=807577 wrote:
Hello everybody. I think I have a problem on the horizon and would love to get a little insight so I'm ready to negotiate when the time comes. I wrecked my boat and I think they're going to total it. I have an actual cash value policy with Boat US and the NADA guide says it's fair market value is $19,250 and I owe the bank 13k to pay it off. The deductible is $500 and the damage was estimated at 15k. They are sending a surveyor out next to verify that none of the damage is from an earlier incident. It clearly isn't so it wont be a problem. I put work into it and I want to keep the boat. From what I'm seeing it's about 7k or so to fix it. What is a fair price to pay for the boat if they total it ? I don't want to low ball them and lose my boat to some salvage company. I'm in a jam here because whatever I do I'm gonna have to come up with the $$$ to fix it. Granted I wouldn't have a payment anymore so that's pretty sweet but I'm probably going to lose the season over this. I guess the biggest thing right now is to make sure I get the boat back without overpaying for it. I'm seeing all different percentages people recommend for salvage value out there. Has anybody dealt with this before firsthand ?

Quite often the insurance company may put it up for bid, or sell it back to you, make a low offer they may take it rather than be stuck with it for salvage, they do not want your boat.

[Karl_Hungus]

I guess I'll just have to see. I don't know where they come up with these numbers. I just want my boat fixed.