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Bertram31.com General Bulletin Board
Insurance during restoration
Posted By: Chiles
Date: Wednesday, 27 October 2004, at 4:40 p.m.
Faithful,
I've been working with Boat US trying to arrive at an agreed value for the B26 as work in progress. Here is my delima. I have over 60K invested sitting in the boat. New engines, electronics, radar arch, seats, wiring, etc. The boat is about 80% complete but due to weather and my schedule, it won't be done this year.Boat US says that we can agree on a value of about 50K, but I still need a new survey before they start coverage.
A survey is going to cost me about 300 clams and I know I won't be happy with it b/ the remaining work like replacing thru hulls and putting all the panels in place, well the boat looks like crap right now. It looks like it has chicken pocks b/ of all the bad spots I have ground out in the gel coat waiting for me to come back and fair and re-gel. The boat is on my trailer and in my yard, but trees can fall and things can get stolen.
Would you gamble on not having insurance thru the winter or pay out the 300 for a sub par survey just to get insurance for what you have invested?
Chiles
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