ASA and PSIA Instructor
Join Date: Apr 2000
Thanked 37 Times in 37 Posts
Rep Power: 17
I would concur with the advice to get out of the boat as a total loss and move on. With any luck you could have a new boat and be sailing by June, otherwise it's maybe next year and the sunk boat will never, ever be right again.
I also say to get a lawyer on this job, who can help you press for a total loss and for establishing full value of the boat...realize that an insurance company calling the boat a total loss, then moves onto the question of compensation...here, the yard, their insurance company and your own insurance company, depending on what end's up in whose lap, will all push to pay minimum dollar. I believe the bottom number with your own company would be the "insured value", depending on when you put the insurance in place you may or may not like that number. If you have receipts for recent work, new sails, etc., you may be able to get them grossed up into the value...this is where I'd look for th lawyer to earn his/her keep, is not in fault-finding but in how to work the system to get the most money into your pocket, which is sadly the only care you now have regarding your lovely boat.
PS - when i had my first boat many years ago, I waited impatiently for the yard to launch her...they had some bad weather..people out sick...they promised to call me when she went in. Anyway on the day of the third postponement I decided to take a friend down to the yard to see my little dream, a diamond I had crafted via 20-30 days of labor from a tattered hulk. Anyway, when we got to the yard at 8pm, my cradle was empty, the boat was down at the end of the pier, everyone was gone, and I could see she was floating a foot below the waterline. When I got onboard I found water pouring in through a split under a bend in the head overboard hose. If I had not happened to make that trip, I would have ended up with the same call as you. Many boatyards are owned and staffed by people with the IQ of monkeys.
Certified...in several regards...