Quote:
|
Originally Posted by Long Pine
Several questions come to my mind too. Things like: Who decides whether to bring the boat to the surface? Who actually does this? Who will be responsible for doing the "autopsy" on the boat - is it an independent entity that does not have a financial stake in the outcome? What happens to the boat - is it possible that an insurance company could decide that the boat is not "totalled" and that they would only provide funds to re-condition the boat?
|
After spending a few weeks at the bottom the boat will most likely be totalled, especially being that the boat only had 6 hours on it. The cost to repair/rebuild this boat to new is probably more than replacement cost. Hopefully the boat was insured for actual cash value, with a high enough agreed hull value set.
A marine surveyor hired by the insurance company will be the entity that determines what happened and what will happen going forward. Depending on the insurance company this may or may not be a good thing. Again, the type of coverage is key here.
This does not mean however that someone may buy it from the insurance company, clean it up and resell it themselves. You may find it on Ebay some day...