New Posts New Posts RSS Feed: Insurance write-offs
  FAQ FAQ  Forum Search   Register Register  Login Login

Insurance write-offs

 Post Reply Post Reply
furtive View Drop Down
Posting king
Posting king

Joined: 30 Mar 05
Online Status: Offline
Posts: 188
Post Options Post Options   Quote furtive Quote  Post ReplyReply Direct Link To This Post Topic: Insurance write-offs
    Posted: 22 May 07 at 9:54am

If a boat is written off by an insurer as not financially viable to repair, but is then bought and repaired by an individual (not paying labour costs could make it a viable option), will an insurance company look at the boat any differently when the new owner comes to insure it?

Any thoughts, or previous experiences?

Back to Top
Noble Marine View Drop Down
Posting king
Posting king

Joined: 09 May 05
Location: Newark, Nottinghamshire
Online Status: Offline
Posts: 126
Post Options Post Options   Quote Noble Marine Quote  Post ReplyReply Direct Link To This Post Posted: 22 May 07 at 10:13am

It really does depend on each individual case.

For instance an old Mirror with a hole in one panel could easily be un-economic to repiar commercially and could be considered a write-off by the insurers.  A person with the time and expertise could get this boat back into reasonable condition and I am sure there would be no problem in providing insurance cover.

At the other end of the scale, there could be a boat damaged in such a way (such as a road accident) that the structural integrity of the boat was badly affected.  While the boat could be repaired cosmetically there would always be doubt as to whether the boat is seaworthy and insurers are unlikely to offer any cover in a situation such as this.  Noble Marine would usually ask for a boat to be destroyed and desposed of, if there was any chance that an unsafe boat might end up back on the water.

You should always inform your insurers of any circumstance such as this that may affect your policy.


Edited by Noble Marine
Back to Top
 Post Reply Post Reply

Forum Jump Forum Permissions View Drop Down

Bulletin Board Software by Web Wiz Forums® version 9.665y
Copyright ©2001-2010 Web Wiz
Change your personal settings, or read our privacy policy