Originally Posted by JustinB
I have a friend who owns a 1970's sailboat. It's a Cape Cod Shipbuilding Mercer 44'. The inboard diesel gave out last fall so he has had it dry in his yard awaiting a new engine. So anyways, on Memorial Day some drunk thought his yard was a road and hit the supports holding the boat up. It fell over and the mast got bent, a hole in the hull the size of a dinner plate as well as the sails getting trashed. Nothing else got damaged but his insurance company offered him $200,000. They let him keep it for $15,000. That's where I come in.
why would they give him 200k if it can be fixed for 30k. does not make since even if they spent 100k to get it fixed why are they totaling it? there may be a bit more to the repair then you can see. will it be insurable after the repairs if done by you?