Sunk SeaCraft '75

CaptainDave · #1 09-22-2007, 05:21 PM

Last weekend my beautifully restored 23' 1975 SeaCraft over turned in a wind storm at the dock and completely ruined my 2006 250 four stroke Yamaha and trashed all of the electronics and wiring. It is in the hands of the insurance company now. I hope they are kind. As many of you know, it is hard to insure these old boats for what they are worth. I had to get several surveys done to convince the insurance company it was worth what it was worth. Does anyone know what the hull is worth minus the electronics and engine? It would help me out with the insurance company.
www.captaindavescharters.com[/url] Look in the photo gallery to see pictures of the boat.
http://www.captaindavescharters.com/...et=tlx_picrogz

The picture has the old engine.

askipper3 · #2 09-22-2007, 05:36 PM

That is sad, I recently went through the same thing, but the engine fired right up.....thats a whole nother' story when the engine goes. Hopefully it works out with the insurance company!

peterb · #3 09-22-2007, 09:44 PM

Captain Dave,

So sorry to hear about your boat. The same thing happened to me in Highbar Harbor last December. Bost US insured the boat and paid me in full.

web page

Who is your insurance comany and what does your policy say?

Best of luck.

Peter

CaptainDave · #4 09-23-2007, 10:18 AM

I have Zürich International. I have no reason not to trust them at this point. I have covered for acts of god like a wind storm.

peterb · #5 09-23-2007, 11:31 AM

Dave,

What do you want to happen? Do you want them to give you the market value of the engine, electronics and wiring (how is the fuel tank and hydraulics), less the deductable, and then you will redo the boat????

Peter

skipjake04 · #6 09-23-2007, 12:14 PM

WOW, sorry to hear your news. I jsut went through the same thing with State Farm. Boat did not sink, but engine was shot and they did not even go look at it, just mailed a check. I have been with them for about 15 years with very little claims. So the bad news was I was without a boat. The Good news is I am now a Seacraft Owner. GOOD LUCK

CaptainDave · #7 09-24-2007, 11:51 AM

I definitely want to redo the boat but I am not sure on a settlement from the insurance company. I have a large investment in the boat; I just bought a new trailer and a cover; not to mention all of the blood and sweat I have put into the boat over the years. I also bought an extended warranty on the engine that goes until 2012. I doubt Yamaha will honor that warranty in the future due to the engine being submerged. I am just curious about what these hulls go for alone. I might have to back that out of any insurance settlement we might have.

Fr. Frank · #8 09-24-2007, 01:24 PM

Most Insurance companies will let you buy the boat back from them after they pay you for the thing.

peterb · #9 09-26-2007, 10:16 PM

Captain Dave,

i will send you a private message on the numbers that I got on my boat.

Peter

CaptainDave · #10 11-05-2007, 11:25 PM

After seven weeks of back and forth, I finally settled with the insurance company. There was weeks of due diligence on both sides and we finally reached an agreement we both could accept. The boat was not as bad off as I first thought. I will not be restoring the boat. It has been a great boat which has given me and my family some great memories, however, the women in my life need a boat with a head and some more elbow room. The boat will make a great winter project for someone with some basic knowledge in restoration. I am selling the 2006 load rite trailer with the boat as a package deal. The boat is in Beach Haven, NJ if anyone is interested.