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Old 24-04-2016, 23:08   #1
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Older Vessels Beware!

Hi,

Three years ago I bought the beautiful 1962 Lady Anne, a 55' Chris Craft Constellation moored in Seattle and shipped her back home to Perth in Western Australia. Over the past three years I have been making upgrades and attending to areas of beautification which an older vessel like this continually needs.

Sadly, when recently going from my pen to the club fuel jetty, the trumpet blowing Detroit 8v71's, blew a hole in the original starboard cast iron muffler! The boat sank in 30 minutes as my bilge pumps could not handle the amount off water which was entering via the exhaust outlet.

My insurance company has admitted 'no liability whatsoever' stating that deterioration and fair wear and tear to be the cause of the sinking.

HAs anybody had a similar experience and if so, what was the outcome.

I am 100% sure this happens to alot of older vessels and this 'ploy' rids the insurance companies of any obligation.

Cheers

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Old 24-04-2016, 23:39   #2
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Re: Older Vessels Beware!

Well, I can see their point of view, but, man, do I feel your pain. What just might help is if you can document what recent care you'd taken of the exhaust system, anything to show you didn't just let it rust out, some mechanic looked at it, and thought it was good to go..

Insurance companies, unfortunately for those of us who hold insurance, are in business to pay dividends to their stockholders. If we're lucky, we turn out to get a claim paid, and I know people, struck by lightning who did get a fair payout, around 30k because it took out all their electronics. So it does happen the way we think it should, sometimes.

Good luck with it, mate, maybe you can persuade them.

Did you raise the vessel and start repairing same, or is it a total loss that you're going to have to pay to remove from the environment?

Ann
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Old 24-04-2016, 23:52   #3
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Re: Older Vessels Beware!

Who is the insurer?
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Old 25-04-2016, 00:10   #4
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Re: Older Vessels Beware!

Read your policy closely, does it cover consequential damage? If so, the muffler is your responsibility, the other damage that occurred consequentially is the insurance company's responsibility. It all depends on the policy terms.
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Old 25-04-2016, 00:25   #5
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Re: Older Vessels Beware!

Seems to me that it would be worth talking to a Lawyer.

Who did you say was the Insurer?
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Old 25-04-2016, 00:59   #6
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Re: Older Vessels Beware!

Insurance is gambling in a form that the mafia would be proud of.

You are placing a bet that something bad will happen to you.

Either way, you lose.
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Old 25-04-2016, 01:03   #7
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Re: Older Vessels Beware!

Bugger!
I really feel for you.
That sucks.
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Old 25-04-2016, 02:17   #8
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Re: Older Vessels Beware!

Older, badly designed vessels maybe. My boat's exhaust port is above the water line at rest, and the exhaust hose forms a syphon break too. I thought those were basic design principles, of a waterlift muffler system.
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Old 25-04-2016, 02:29   #9
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Re: Older Vessels Beware!

I'm in the market for cruiser friendly insurance in Australia. Can you name the insurance company?

Or answer this: what are the good boat insurance companies and which ones should be avoided? If it is an option we will probably carry third party insurance only.
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Old 25-04-2016, 03:54   #10
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Re: Older Vessels Beware!

I couldn't get third party the last time I tried, it's comprehensive or nothing.
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Old 25-04-2016, 04:05   #11
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Re: Older Vessels Beware!

Quote:
Originally Posted by olaf hart View Post
I couldn't get third party the last time I tried, it's comprehensive or nothing.
In Australia? Really?

We obtained quotes from 3 different companies upon arrival in Oz. Bound 3rd Party 10mm within 48hrs. Later on moved our whole comprehensive policy as it was 1/2 the cost of our US policy.
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Old 25-04-2016, 04:31   #12
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Re: Older Vessels Beware!

I was after racing coverage as well, but would like to know who you insured with.

I use a broker, his advice was third party only was no longer available.
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Old 25-04-2016, 04:49   #13
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Re: Older Vessels Beware!

Pantaenius is the Insurance company. Underwritten by Lloyd's of course.

They were not the cheapest but they have a very good reputation. Also, they agree on a hull value when binding the policy (comprehensive) and apparently do not quibble after the fact about writing the cheque if there is a whole loss of the vessel.

Of course they also required a satisfactory survey and upon renewal they required us to obtain a rig report so they do cover their arse.
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Old 25-04-2016, 05:16   #14
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Re: Older Vessels Beware!

"Deterioration and fair wear and tear" that seems crazy, show me a vessel that isn't deteriorating, mine certainly is as I'm typing this post.
Cheers Dale.

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Old 25-04-2016, 05:18   #15
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Re: Older Vessels Beware!

I have no idea how the winking smile face appeared in my post, I certainly don't think your situation is funny.

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