ASA and PSIA Instructor
Join Date: Apr 2000
Thanked 37 Times in 37 Posts
Rep Power: 17
Owners can buy the boat back..how often I can't say.
But a fellow at my club had his 36 racer/cruiser break its mooring pendant and layup against a seawall, damaging the rails, topsides and toerail. The insurance company totaled the boat and paid him $30K, he bought it back for $1K, had it repaired by a good local fg guy, my understanding is for half the insurance payout. With a navy blue awlgrip finish, the boat looks better than new.
So he made out like a bandit, subject perhaps to having some insurance renewal problems or cost.
The interesting thing is, he still hangs the boat off his mooring with a single pendant, no chafing gear applied.
Certified...in several regards...