Boat hit while uninsured

[Mouse]

My 35' Alberg was hit by a 46 ton trawler while moored in the marina.
I am currently uninsured and they are covered by Pantaneus.
I called there insurance that night and they had a surveyor out within hours.
The estimate by the yard for repairs is $34,000.00.
Does anyone have any experience with this company?
Can anyone offer and suggestions as to what I should expect from the outcome of all this?
I don't know what to do as I am a live aboard and am allready out of pocket $500 trying to keep my stuff from getting ruined from leaks and mold from water getting in.
I'm so frustrated right now.

[boatsail]

sorry to hear that. Are they going to pay you out and "total" the boat?

Good luck with getting things fixed back to normal!

[Pete7]

Pantaneus have an excellent reputation and its one of the reasons we are insured with them. However, no direct experience of making a claim through Pantaneus.

Rather than suffer I would contact them again and explain the situation that you are working hard to prevent further damage and therefore costs to them and could they get a move on.

Pete

[rivonia]

Realy sorry to hear of your misfortune and the plight that it has left you in.

As you are not insured then the other party has to foot the bill and you will just have to hope that they act speedily.

We are insured with Pants and they are the very best on the market when it comes to paying out.

Might I suggest you e-mail them and tell them in basic terms of your predicament. Ask for there advice and help.

Good luck

Peter

[manitu]

keep every related receipt. Take pictures of all work you do yourself. keep track of the hours you put in yourself. Document EVERYTHING specially collateral damage.

Man, I hope you get your home together or maybe a new , nice home when it's all over.

.manitu

[roverhi]

I would imagine that they will total the boat and offer you something less than the repair estimate. Could turn out to be a good deal if you can buy the boat back and do the repairs your self or contract with an independent outfit to do it cheaper than the yard.

With Alberg 35s selling from $25,000 and down, can't see any way that they will pay $35,000 to fix the boat. They will make an offer to settle for what they consider 'fair market value'. Unless you can convince them or a court that the boat is worth more, you will be stuck with the settlement they offer. If the boat had been insured, your insurance company would handle getting payment up to the insured value. Since it was not insured, you will have to hire a lawyer and go to court if you can't come to a mutually agreeable value for the buy out. From experience, you don't want to go to court as only the lawyers win there. If negotiations on value are not going well, probably a good idea to drop a boat unit or two on a lawyer to negotiate a better pay out, however.

[jeremiason]

I am a Pantaneus customer as well...

I have no infomration on 2nd Party Claims, but I know of 5 boats in Panama that were struck by Lightning this past rainy season and said that Pantaneus was fast and fair with the claims.

My guess is the boat will be totalled?

[rolandcavanagh]

We were hit by a Pant insured last Fall, and they treated us courteously, professionally, and fairly. The process of getting a surveyor out and determining a settlement was smooth but took a week or so just due to schedules and availability of the resource. Take lots of pictures, and as others have said, document everything you do, but don't expect an offer in excess of the street value of your craft. Good luck!

[Mouse]

Thanks all. I have faith (all though not to the point of foolishness) that they will do the right thing. They are a ins. Co. At the end of the day though.
I hope and pray that I will at least get enough to get the equivalent of my Alberg.
Your comments are all helpful, they are helping me feel less secluded in this situation.

[micah719]

Perhaps ask them to haul the boat out to prevent any further mishaps?

[Mouse]

I'm scared to because until they pay out it is all out of pocket. She was hauled out the next day for the survey which they authorized but than put back in because this is a working marina and don't have the space for just sitting and waiting. My concern is now with a weeping thru hull from the accident and I'm keeping a close eye on the bilges and how often the pump runs.
God this is a stressful situation.

[boatman61]

You may.. if very lucky get 50% of your claim..
But... the arguement will be... why were you in a marina uninsured when (in all legal probability) the marina is supposed to enforce an 'insured boats only' policy... minimum 3rd party.
Now if your boat had not been there... no collision..
so its your fault.. or the marina's for letting you in..
so a claim MAY be made both against you AND the marina.. and you'll have to get out..
The risk one runs uninsured..

[Boatguy30]

Originally Posted by boatman61

You may.. if very lucky get 50% of your claim..
But... the arguement will be... why were you in a marina uninsured when (in all legal probability) the marina is supposed to enforce an 'insured boats only' policy... minimum 3rd party.
Now if your boat had not been there... no collision..
so its your fault.. or the marina's for letting you in..
so a claim MAY be made both against you AND the marina.. and you'll have to get out..
The risk one runs uninsured..

There is no legal requirement in ANY Us state to have watercraft insurance. Many marinas and cities do require it.

Despite what some may feel about the US legal system, he is free from worry about your crazy scenario.

[Stumble]

Mouse,

I would call the adjuster and ask for a quick preliminary partial payment so you can afford to take steps to prevent further damage. Something in the 5-7,000 range should be pretty easy to negotiate, and allow you to get hauled quickly and do whatever emergency repairs are necessary to prevent future damage. The problem is anything you spend now will reduce the amount you have to replace the boat moving forward.

You may also want to let them know that you are a live aboard, and that unless you can get the boat hauled you may have to move into a hotel temporarily as a safety measure since the boat is no longer seaworthy.

I have dealt with Pant before (as a claimants attorney) and they were very reasonable. Just approach them reasonably.

[roverhi]

All marina's require is liability insurance of a certain minimum value. That would do you no good as that protects those you harm, not your boat. You'd be on your own to collect just as you are without insurance. If your marina had a policy requiring liability, they may not be happy with you for not having it and evict you. Liability coverage is dirt cheap. I wouldn't leave home without it.