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Originally Posted by bajaman
(Post 4802382)
Thank God everyone is alright, and I am sure you flashed back a little to the terrible loss of your son...one can only imagine that grief...my heart truly goes out to you.
I've seen some great responses on this thread and it just goes to show the value of being able to discuss an issue like this with like-minded people, many of whom may have had a similar experience. One of the problems with the other boater's lack of adequate insurance to cover the damage or loss is...whatever ends up hitting YOUR insurance company will ultimately go against you in the form of higher premiums. If, for example your insurance is out of pocket $100,000 then they will essentially assign a 'loss level' to that, and assess a higher premium for X number of years. I would definitely list as a 'loss' all that described in Post #1, and include fuel cost and other miscellaneous but similar items. The accident was not your fault, one would hope you can recover the financial impact via his insurance but you can't put a price on the loss of use, the now-impossible 'fun' you and your family had expected to have with the boat. Best of luck, please keep us posted. it’s been nine years and it seems like yesterday. yes the accident caused a flashback for sure. I’m sure others will learn from this. I know I have learned a llot. from what it sounds like, I will suffer about a 20k loss out of my pocket. Me suing the guy will coat even more money and time. I appreciate the input. I’ll let you know. Again, thank you for the kind words. 😄❤️ |
It seems to me that most of your question can be answered by your insurance agent and your Written Policy.
I would get three written estimates. If one is way lower then the other two I get a fourth. Show them to the adjuster before he looks at your boat. If your insurance company charges you for a deductible, sue the other party for it. |
Many years ago my brother had just bought a new 21' Rinker, the 2nd time he took it to the lake, as he was launching a hillbilly in a home-made pontoon boat lost control and stuck a pontoon through the side of the Rinker, just above the water line. Hillbilly had no insurance nor a pot to piss in nor window to throw it out of...so suing him was pointless.
My brother and his insurance company had to eat that cost of repair...nothing else to do in that particular situation. |
Originally Posted by AmiableDave
(Post 4802415)
It seems to me that most of your question can be answered by your insurance agent and your Written Policy.
I would get three written estimates. If one is way lower then the other two I get a fourth. Show them to the adjuster before he looks at your boat. If your insurance company charges you for a deductible, sue the other party for it. |
Another option for you here................ I am not sure in regard to Marine losses but in the case of property losses there are private / work for the insured, not the insurance company, adjuster companies that you can retain to settle your claim. Somewhat like the lawyers that advertise for your personal injury losses, only they are real experts in insurance policy coverage. They generally take a percentage of the claim but will collect every dime there is in your policy. I used such a firm years ago on a rather large property claim after the company adjuster made a real mess of the initial claim. Best money I ever spent, worth looking into, best thing is to not get in a hurry, take your time and be methodical about everything. It is your burden to notify them of the loss, it's the company's burden to make full and complete payment to you for the loss.
Sorry for your loss, been there, over 20 years, never goes away. |
My suggestion is before you spend any real time thinking about going after the guy that hit you, do a quick background check on him, personal and financial. You may find either he is well worth going after, just had low limits on his boat policy, or he may have nothing. At least you will know when you start. On a side note: He may have an umbrella policy or home owners insurance that would exceed the boat policy. or again.... Nothing.
Your insurance company will go get the limit from them and pay the difference, then move on. Not worth their time. BUT.... You can always go back after the party on your own through litigation for losses above and beyond what the insurance paid. In that suit, you would want to include EVERYTHING on your list. Will you get it, not likely, but it makes a settlement more negotiable. Backgrounds with a "quick look" is easy, then if it appears it is worth it, proceed to the next step. "Deep dives" will have a cost, but money well spent of you think that is the direction you want to go. |
Accident
Ragged edge, I appreciate the condolences. Yes, you never get over it, you just learn to deal with it. I baby thought about your ideas. I do neee to look into them.
Baja, also some great idea. I will know more this week from the insurance companies and I will keep you guys updated. I did find my guy on a social network and what he does for a living. I think there is something available from him, if pushed. Thanks for the idea. 😄 |
Originally Posted by bajaholic
(Post 4802462)
My suggestion is before you spend any real time thinking about going after the guy that hit you, do a quick background check on him, personal and financial. You may find either he is well worth going after, just had low limits on his boat policy, or he may have nothing. At least you will know when you start. On a side note: He may have an umbrella policy or home owners insurance that would exceed the boat policy. or again.... Nothing.
Your insurance company will go get the limit from them and pay the difference, then move on. Not worth their time. BUT.... You can always go back after the party on your own through litigation for losses above and beyond what the insurance paid. In that suit, you would want to include EVERYTHING on your list. Will you get it, not likely, but it makes a settlement more negotiable. Backgrounds with a "quick look" is easy, then if it appears it is worth it, proceed to the next step. "Deep dives" will have a cost, but money well spent of you think that is the direction you want to go. |
Originally Posted by Helmwurst
(Post 4802500)
Probably not worth going after him personally. Legal fees, court costs, time in litigation will eat away at the ruling. If he has any worth $$ wise, likely will have an umbrella and that should kick in. It is hard to get a policy with enough coverage, not including your umbrella to cover the insane costs of some of these mega buck machines running around. Not uncommon to have a $1-2 Mill floating condo or go fast Hit one of them and you could loose everything.
So imagine your boat is in a marina and for whatever reason it catches fire, and then causes other boats or structures to be lost. You'd be fawked. But then again, there is no "getting blood out of a stone" so to speak; if someone came after me with millions of dollars in damage claims, there is no way I could pay them. |
Just small thought. Rather than remove the deck just to inspect you could use one of the cheap inspection cameras from amazon to at least get some idea of what is going on. I know its not the same as putting your hands on it but it may be able to give you some quick easy access and information and you wouldn't have to remove the whole deck. I have something like this I used for work so we didn't have to tear walls down to see if they were rotten.
Sorry for your loss. Your attitude about this situation is great, I wish more people had your same sentiment. Things can be replaced people cannot. Best of luck with the situation. Also Bruce Jones Fiberglass in Port Clinton OH has rebuilt a lot of boats that were in bad shape if you can't find someone in your area. |
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