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Insurance totaled my boat

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Old 10-20-2011, 07:54 AM
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Default Insurance totaled my boat

My 29 Scarab sank over labor day weekend and the Ins. finally figured out it was totaled yesterday.. I agree with them and figured that went it went down, but they are telling me that they want my trailer with the boat. i don't see how that can be, It is titled and regestered by its self .. Anybody have any experiance with this ? ..Thanks
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Old 10-20-2011, 08:14 AM
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If your trailer is insured with the boat and they pay you for it then I wouldn't see a issue.
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Old 10-20-2011, 08:19 AM
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It is insured with the boat but they asked for a value of the boat(which I came in low) and a seperate value for the trailer..
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Old 10-20-2011, 08:27 AM
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Good question. It could be the same as asking for the life jackets and flares you used with the boat.

Was there a thread on this boat when it went down?
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Old 10-20-2011, 08:34 AM
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Originally Posted by LaughingCat View Post
Good question. It could be the same as asking for the life jackets and flares you used with the boat.

Was there a thread on this boat when it went down?
My policy covers all of those items but not my trailer. My agent told me that my auto insurance (same agent) covers the trailer when hooked up to my truck. When not hooked up then the umbrella that I have on my home owners covers it.
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Old 10-20-2011, 08:38 AM
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Pretty sure my policy states boat, motor , trailer.

Oh, and you can probably buy it back at salvage value. May or may not be a deal.
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Old 10-20-2011, 08:44 AM
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It sounds like you do not have an agreed value policy. They typically list specific values for boat, trailer, and other named electronics.

Depending on your insurance adjuster, and most importantly your policy; tell them you did not give them a value for the trailer, just the boat.
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Old 10-20-2011, 08:45 AM
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If its on the policy and they pay the policy for a total loss the trailer goes with the boat....they do however have to pay for it.....I was an adjuster for a large boat insurer and when we payed the policy on a CTL the policy had a value on the trailer.....so if the boat was say insured for $25000 and the trailer was valued at $2200 I would cut the insured a check for $27200 just as if the trailer was a total loss as well....I do know that we would offer the trailer to the insured at policy value because most salvage companies don't want trailers with boats....I know in most cases trailers are under insured so the owners would gladly keep them.....there were of course a few that weren't worth $100 and they were insured for $2000 and those we always got stuck with....
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Old 10-20-2011, 09:08 AM
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By it all back from the insurance company and either fix it, or sell it (of course with full disclosure). Unless it was in salt, it shouldn't be hurt too bad.

I had a buddy buy one from an isurance company a few years back. Older Formula, twin 454's, trailer. Bought it for $5,000, put about $5000 into it (and alot of his own time), and now he has a really nice boat.

You might be suprised what they would sell it to you for.
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Old 10-20-2011, 09:09 AM
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There was a tread titled "scarab down in barnagat bay" a few days after.. I have the boat valued at $25k and they won't pay for anything extra, $2k stereo system 2 weeks old, a garmin GPS and all the normal extras. I called and left a message about the trailer..
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