Using the current thread "Accident in Ocean City" as an example.

Question: How does the "salvage" thing work. Thinking that he has insurance, what happens?
1) Insurance company pays the marine salvage company for towing, pump-out and placing back onto the trailer?
2) Insurance company pays the marine salvage company a percentage of the value of the entire boat (using the marine salvage laws)?
3) Salvage company pays the owner a percentage of the value of the boat and now title transfer over to the salvage company?

Just trying to understand the current Marine Salvage Law that is in place today and how it would be applied in the Ocean City situation.

Good questions. I am curious about the answers as well...

This should prove to be interesting!

No one has any insight to this?

REALLY?

You just can't go out and lay claim to any boat the minute it is part of an incident. I am sure the man had tow insurance.

there's been some crazy stories over the years.

[QUOTE=Gladhe8er;3508895]there's been some crazy stories over the years.[/QUOTE]

just ask Gino

Thats were you are mistaken, this has come up in great detail before, if your boat is in imminent danger without oustide (brokedown in a shipping channel, sinking, could be fairly minor, or it floated away, you left itand
went to get a boat to tow it back) or you accept help then person/company under maritime law can lay claim to it as a "salvage " operation and can just about name their price to "sell" it back to you. It happened even during the kewest races a few years ago, tow boat USA or Sea tow SPONSORED the race and all entrants haad to buy a membership with them. A boat flipped and they towed it a few miles in like 45 minutes, they wanted like a5000 or 10,000$ slavage fee, not like they had to get it off the bottom or anything. The laws are very strange, I am sure someone else will post a link or the law, these laws go back 100's of years, Smitty

BoatUS has some info on this, on their website.
SeaTow.. mostly consist of "frenchised" privetiers.
There is major diferences n "towing" and providing aid, or rescue, mostly in the termonology. Soft groundinig, taking in water. etc. Once THey" whoever... got a line on your boat, you need to be aware of the laws, and what "SOME" will try to get away with.
I carry this in my boat, just in case..

Peter XXXXXX / CCS, Inc.
8112 CXXXXX XXXXX
FL. 34653
(561) xxx-xxxx
This document is to serve as notice to any and all entities, vessels, person and companies rendering any and all types of marine related assistance to any and all boat operated owned , leased or otherwise used by PXXXXX and/or XXXX Inc. that under no circumstances any “”SALVAGE” operations are permitted and authorized.
Any assistance requiring any and all “SALVAGE” related activities are strictly prohibited unless, signed by PXXXXxx or his representative.

Any and all safety related activities to be supervised and conducted by Government Agencies or Government agencies authorized licensee.

Assistance rendering entity. ____________________________ Date ____________

Both to Smitty and Paradox, thank you. Helps to understand that there is a very complex law that may come back to bite an owner in a time of real need. Excellent letter Paradox. Copied, printed and placed in a large freezer ziplock baggie. Will be placed with my other documentation on board.

Hope that I never have to use it.