BoatUS: 65,000 boats damaged by Sandy

svHyLyte · #1 11-15-2012

More than $650m in damages. Shocking. More news: Sail-World.com : The count begins - 65,000 boats damaged by Sandy

I suspect there will be a whole lot of used gear available from the salvage and consignment shops in the Northeast in the near future.

Sad...

bljones · #2 11-15-2012

It's heartbreaking.

chucklesR · #3 11-15-2012

I'm lucky, no damage to my boat.
Don't mean to sound heartless but I expect there will be some damage to my wallet when insurance companies inevitably raise rates to recover the damage to their kitty.

BubbleheadMd · #4 11-15-2012

Quote:

Originally Posted by chucklesR

I'm lucky, no damage to my boat.
Don't mean to sound heartless but I expect there will be some damage to my wallet when insurance companies inevitably raise rates to recover the damage to their kitty, while refusing to pay many claims.

Fixed that for you.

rugosa · #5 11-15-2012

Definitely heartbreaking and sad . . . but there is an up side (I'm not being cynical) - jobs. Jobs in service & repairs, jobs in parts production, jobs in boat manufacturing, and jobs in other industries supplying parts, materials, shipping . . . . The recession has not been kind to the marine manufacturing and service industry (does anyone have figures on marine unemployment rate?). And while a lot of talk on SN is about how boats are a dime a dozen and it is a buyer's market, maybe this can stabalize the value of some SN'er's boats.

Unfortunately, some owners with partial or total loss may never have access to ownership again. If you know someone who has suffered a loss and will be locked out temporarily or permanently - PLEASE ADD THEM TO YOUR CREW!

JimMcGee · #6 11-15-2012

Quote:

Originally Posted by svHyLyte

More than $650m in damages. Shocking. More news: Sail-World.com : The count begins - 65,000 boats damaged by Sandy

I suspect there will be a whole lot of used gear available from the salvage and consignment shops in the Northeast in the near future.

Sad...

Those're some amazing numbers.

I've also been wondering where all that gear will end up, hopefully not in landfills. But the only used gear shop I know of in the Northeast is Bacon's in Annapolis.

svHyLyte · #7 11-15-2012

Quote:

Originally Posted by JimMcGee

Those're some amazing numbers.

I've also been wondering where all that gear will end up, hopefully not in landfills. But the only used gear shop I know of in the Northeast is Bacon's in Annapolis.

Jim--

Zoom over to the "Good Old Boat" web site and you can find a listing of salvage and consignment shops, many in the northeast. There is a treasure trove of gear aboard those boats that the insurance company's don't want to bother with. I had a 1950's era Thunderbird 26 when I was a kid that finally gave up the ghost due to rot under the cockpit that was endemic. I couldn't give that boat away and finally had to wreck it out (a horrible job, physically and emotionally--I still have a chunk of her sitting on our mantle and her oil lamps are on our current boat). Long and short. What I got for her spars, sails, winches, keel (cast iron with a 500# lead shoe), rudder, et al, far exceeded her value even had she been in reasonable shape.

I feel terrible for the guys/gals that lost their boats. Hopefully they will be able to recover something and go on or rebuild and go on. For the lost causes, however, they may find that "parting out" a yacht through a consignment shop offers them a better deal.

Not routinely dealing with hurricanes, I don't think many up north really understood or appreciated the risks, or knew how to prepare. Unfortunately, the northeast has gone through a very benign period that now seems to be changing and folks will have to change with it. Or not.

N'any case, when I saw the article I couldn't believe the carnage. All you folks up north have my sympathies and best wishes.

svHyLyte

MSN2Travelers · #8 01-07-2013

The January 2013 issue of Seaworthy (BoatUS Insurance monthly) arrived yesterday. In an article on page 13, they made it known that rates were going up ... way up.

Their suggestion is that owners might consider liability only policies.

While I do understand the theory behind national/international insurance companies (ie: shaared risk), I believe owners on the Great Lakes and the west coast are going to get screwed.

chef2sail · #9 01-07-2013

Quote:

Originally Posted by MSN2Travelers

The January 2013 issue of Seaworthy (BoatUS Insurance monthly) arrived yesterday. In an article on page 13, they made it known that rates were going up ... way up.

Their suggestion is that owners might consider liability only policies.

While I do understand the theory behind national/international insurance companies (ie: shaared risk), I believe owners on the Great Lakes and the west coast are going to get screwed.

We just got our bill...Went up 33%

Jgbrown · #10 01-07-2013

Quote:

Originally Posted by chef2sail

We just got our bill...Went up 33%

Funny how it doesn't go down when there aren't any claims. I'd like to see the numbers on claims paid out vs denied.

Is there going to be any type of registry where you can check and see if a boat was listed as written off as a result of this? I forsee a lot of these boats getting trucked somewhere, a cheap repair and flogged off without mention of the issues.