Originally Posted by tkeithlu
Congratulations! Do share with the forum what you have learned about dealing with insurance, the yard, and the like. Most of us have not been in your situation, and you can turn the tables and help prepare us for when we are in your shoes.
Fortunately the insurance adjuster I've been dealing has been very fair so far, and I can't complain. While I still have to deal with a $5000 deductible and depreciation, he has been more than reasonable. He took the written estimates I was given by the boat yard and replied with a "schedule of claim" that noted the amount covered for each line item. Labor is covered in full, and parts
and replacement equipment
are depreciated at the appropriate rate (e.g. 10% per year for electronics
, 12% per year for batteries, etc). He could have been much more aggressive with the depreciation, and his restraint has been most gratifying. One catch is that, since the bank that gave us the loan is named as a loss-payee, he has to write the check in both names. He then has to send it to me, I have to endorse it, send it to the bank who will deposit it and then send me a check. I can then deposit this check, and then have the funds to pay the yard. Kinda a pain to have to go around and around, but it's not the end of the world.
As to the yard, I've been pretty happy with them too. There was very little scope
creep, and anything extra was discussed first. I could have used a little better communication as to status updates etc, and I've had to follow up pretty regularly to know where things stand. But the project
manager is a decent guy, and overall I'm happy. Of course I have not seen the final bill yet ;-).
I think in everything, communication is the key. Since my boat is 2 hours drive away, I could not be there as often as I'd like, certainly not during the week when the yard was actually open. They did allow me access to the boat on the weekends to do some jobs unrelated to the work they were doing, and I respected their rules as to what was appropriate for me to do in their yard - after all, it's not a self-service yard where you can do whatever you want.
If anyone has some specific questions I'll be happy to give what insights I can...