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Old 18-09-2008, 19:05   #16
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Interesting stuff, but I did not mean to hijack this Thread into an Insurance monitoring debate (post AIG and Ike) as that deserves its own thread.

The OPís premise that Ike will actually help make it a Sellerís market seems pretty optimistic to me.

Again, my impression of the area was that they were pretty helpless to do anything for an Ike type event to save their boats as the marinas look overcrowded and not built for hurricane forces.

Couple that with a lot of financial pressure on the insurance companies, a deep recession with disposable income and recreational buying from the average person severely curtailed and I wonder if many of those who lost their weekend boats, might hold off on replacing them.

Curious what the old hands in the Hurricane belt feel about boaterís sentiment in that area?


Is there a feeling that severe weather events are getting more common and keeping a boat there is too much of a gamble?
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Old 18-09-2008, 20:08   #17
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We lived on Clear lake for 2 years. Many of the marinas were in serious need of work on most of the docks. The marinas were putting money into the grounds and buildings but not the docks. I had a few conversations with owners and managers and the general consensus was that they were waiting for a big storm so the insurance companies would pay most of the costs for new docks. It looks like they got their wish.
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Old 18-09-2008, 20:16   #18
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Originally Posted by Pelagic View Post
Interesting stuff, but I did not mean to hijack this Thread into an Insurance monitoring debate (post AIG and Ike) as that deserves its own thread.

The OPís premise that Ike will actually help make it a Sellerís market seems pretty optimistic to me.

Again, my impression of the area was that they were pretty helpless to do anything for an Ike type event to save their boats as the marinas look overcrowded and not built for hurricane forces.

Couple that with a lot of financial pressure on the insurance companies, a deep recession with disposable income and recreational buying from the average person severely curtailed and I wonder if many of those who lost their weekend boats, might hold off on replacing them.

Curious what the old hands in the Hurricane belt feel about boaterís sentiment in that area?


Is there a feeling that severe weather events are getting more common and keeping a boat there is too much of a gamble?
Many boaters we have talked to will probably not be replacing boats that were totaled. Marinas are full of boats that never get used, have not been well maintained and are difficult to sell. the owners come out much better with an insurance check and then there are no more dockage fees, etc. Add in the state of the current economy and the fears for the future and these folks will walk away with what they can get and put that insurance check in something safe. We find this mindset more and more now. Our feelings are that weather is getter more severe and more widespread than it was when we started this lifestyle 17 years ago. Severe storms and foul weather were very rare back then but seems to have become the norm for the last few years. Have a read on our blog for our trip from Houston to South Carolina and you will get the idea. We have never in all of our years of cruising encountered the kind of weather we have encountered this trip alone.
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Old 18-09-2008, 20:21   #19
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"Let's see, I go to FL tomorrow for a couple of weeks and then return above "the line", and then a year later have some sort of claim and am not covered because I crossed "the line" last year some time???Did I get that right??"

Therapy, yes, you got it right. If you cheat on your side of the insurance contract, then you have voided your policy. When you purchase insurance, the application form you sign is a legally binding contract. Of course, the claims adjuster would have to find out, which is surprisingly easy, what with people posting things on forums and keeping boat blogs and the like....

Anyway, that's why I post on this forum and have given Q&A sessions in places that cruisers gather, in the hopes that some of the misunderstandings about insurance get clarified, and that anyone who files a valid claim gets paid.
So let me get this straight. According to Therapy's scenario you are in effect canceling his insurance because he went out of the box but you keep his premium and don't tell he he has no insurance unless he files a claim. Even if it is a year later and the claim is in the approved area. It is no wonder we see so many lawyers commercials bombarding us on TV to get us to sue insurance companies.
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Old 18-09-2008, 20:39   #20
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In Kemah/Seabrook, I'd say 80% of the boats survived with little to no damage. Most of the one's that were heavily damaged had absentee owners (i.e. did zero storm prep), were in dry storage at the yard, were on non-floating docks in the channels or were just very unlucky. Now, my boat survived undamaged (the hull/rigging anyway, have not tried to start it) because the jettees surrounding the marina and the pilings for the floating docks were at 15'. The storm surge was 12.5' and high tide was 2'. Our marina missed total disaster by 6 inches. The trash line on the jettee banks goes right up to almost the top. Even the gazebos up there are still standing. A guy that rode out the storm at the marina across the channel from us could see our boats rise above the jettees but never detach from the pilings. I wish he had taken pictures but I think he was a tad nervous at the time. None the less, the pictures of the aftermath we have tell an amazing story. There were at least a dozen sailboards, lasers, and sunfish adrift in the marina along with all kinds of residential water heaters, storage tanks, furniture, etc. I'm not sure about salvage rules inland but there was a gold mine there for those inclined to those sort of things.

Anyway, I wouldn't expect a huge change in the boat market. I think many of the boats that were damaged have owner's that may be pleased by that development!

Just my opinion based on what I saw.

PS. The main reason my boat has no apparant damage is because we have comprehensive insurance
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Old 18-09-2008, 21:29   #21
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Originally Posted by TabbyCat View Post
"Let's see, I go to FL tomorrow for a couple of weeks and then return above "the line", and then a year later have some sort of claim and am not covered because I crossed "the line" last year some time???Did I get that right??"

Therapy, yes, you got it right. If you cheat on your side of the insurance contract, then you have voided your policy. When you purchase insurance, the application form you sign is a legally binding contract. Of course, the claims adjuster would have to find out, which is surprisingly easy, what with people posting things on forums and keeping boat blogs and the like....

Anyway, that's why I post on this forum and have given Q&A sessions in places that cruisers gather, in the hopes that some of the misunderstandings about insurance get clarified, and that anyone who files a valid claim gets paid.
And I can tell you that I very much appreciate it.

I had no idea that part of a policy would be like that. I can see not covering while you are somewhere else but.......oh well.........."warranty" I will have to try to remember that word.

Right now I have a 16' Jon boat. I hope one day we will need to meet.

Thanks.
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Old 19-09-2008, 13:45   #22
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Susan, we have the Markel policy and were told that if we are south of the required area the policy is void, period.

If anyone is in this cituation give my guy a call.. He has told me a few stories of the Hurricane Ike victims that he has helped out. (as far as boating ins). Give him a call his name is Charlie 410-499-5670
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Old 22-09-2008, 10:17   #23
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We have our insurance with Nationwide - as do friends of ours. They lost their boat in IKE. They got their check on Saturday. The full amount, less their $500 deductible. They have plans to go to Ft. Lauderdale boat shopping.
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Old 22-09-2008, 10:22   #24
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I'd disagree with the 80% assessment. We were there this weekend helping out friends, and toured the lake via inflatable. The southside of the lake did pretty well. The north side was demolished. "Battleship Row" at Lakewood Yacht Club was nearly totalled. There was a megayacht being recovered by crane along the channel. Two 7 figure yachts were on the island that is Clear Lake Shores - in good condition. But, it is anticipated that they will have to cut up to remove because they are inaccessible by crane.
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Old 22-09-2008, 13:52   #25
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I'd disagree with the 80% assessment. We were there this weekend helping out friends, and toured the lake via inflatable. The southside of the lake did pretty well. The north side was demolished. "Battleship Row" at Lakewood Yacht Club was nearly totalled. There was a megayacht being recovered by crane along the channel. Two 7 figure yachts were on the island that is Clear Lake Shores - in good condition. But, it is anticipated that they will have to cut up to remove because they are inaccessible by crane.
Clear Lake took a beating more so than the marinas along the Bay. So many boats in there are not on floating docks or are moored. I saw evidence of quite a few boats that got torpedoed by large power boats that were adrift.

We have a huge 50' Hatteras blocking the entry road to Seabrook Shipyard. The thing was being prepped for delivery I believe. Are they going to have to demolish it as well? I was wondering how they could lift that beast!
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Old 25-09-2008, 08:25   #26
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Here's more about boat damage in the Houston area;
EXCLUSIVE: Day 2 in post-Ike Texas
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Old 25-09-2008, 09:02   #27
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Good post, Sandy. I've forwarded it to a bunch of folks.
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Old 25-09-2008, 14:45   #28
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Ike Damage

Nice thread. I'm going to call my insurance co. and see if I would have been covered. I agree with drh1965 to 80% damage (enough to claim insurance) is good or maybe a little low. There a lot of boat here. It's all about location, location, location and some prep. The boats that were open to the southwest (Lakewood) and and northeast (HYC) had the worst damage. My boat survived fine (shattered port window) on the north side of the lake, but it was sheltered from both directions. Boats at the other end of my marina are in the parking lot or sank. I haven't looked, but I bet the boats nearest the lake at Watergate got hit hard, but those at the back are fine. I also agree with Chuck that the marinas were in bad shape. A lot of the boat I saw had the pilings still attach.

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Old 27-09-2008, 08:36   #29
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With all these boats that can't be saved. Where do all the parts go that are still good? Seems there would be a lot of great deals on windlasses, battery chargers, etc. etc.
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Old 27-09-2008, 08:46   #30
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You would think so but we have seen very little in the way of parts and equipment for sale after these major events. It seems that most of it goes to the landfill with the hulls since the insurance companies own everything and don't want to get involved in stripping the boats. many electronic and electrical equipment has probably been wet and I sure would not want to but it.
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