maytrix
(Traveler)
09/28/17 08:41 PM
76.19.126.165
Re: BVI and Insurance Companies?

Quote:

GeorgeC1 said:One thing that will be interesting is how many owners choose to invest the insurance money in a new boat verses taking the money and running!




I think this will greatly depend on how many come out whole. I believe with a new boat, insured value is the purchase price, so presumably they could take that money, pay off the loan and still have enough for a new down payment? I think with Moorings it might be 100% the first 2 years, so someone close to 2 years in probably is in the best possible position if a total loss?

Personally, If our boat was there, I'd be wishing for a total loss or minor cosmetic damage. I'd hate to think of how any significant damage would impact future value.



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