Stolen boat alert

[MtB]

Yes. But in what way does that affect its insurance? If the premium had been paid, that will still be valid, won't it?

 

 

If the insurance company accepted the claim and paid out a total loss, ownership of the scrap passes to the insurance company who may then have chosen to dispose of it by auction.

[RLWP]

 

 

If the insurance company accepted the claim and paid out a total loss, ownership of the scrap passes to the insurance company who may then have chosen to dispose of it by auction.

 

Unlikely as it is being sold in auction with three other boats

 

Richard

[Jess--]

That's remarkable information, Jess. It suggests that not only was it sunk on purpose, but it was obviously sunk by a boater - a casual thief would not have known about the weed hatch, for a start.

it was always one of the main options discussed on here about how / why it sank, and when they put the photo's up for the auction which showed the weed hatch sat on top of the deck it made it the most likely method in my mind.

 

After a few phone calls and talking with one of the people involved in the raising it confirmed my suspicions and gave the added info about how things were set when it was lifted.

[David Mack]

with regards to insurance it may be worth noting that most (if not all) policies require a valid BSS and License to be in force, the majority of the ex avante boats available are listed as having no bss in place (and none at all have a license) which would suggest that any insurance policy would have been void.

 

That would probably be the case for an individual private boat, but I imagine hire boats would be insured as a fleet on a business policy, so the requirements may well be different. It probably all depends on whether the business policy was still in force with the company in liquidation.

[ditchcrawler]

...giving the impression that the ceiling had not been submerged, yes.

I think that the insurance company will stipulate that no stripping-out or renovation be done until they have inspected the extent of the damage.

I expected it to be stripped BEFORE it sank

[Cheshire cat]

Business policy or not the insurance policy would have terms that would need to be complied with. If the risks change and you don't inform the insurer they have a right to refuse to pay out. I think the insurance became invalid once the boats were evicted from their operating base.

The receiver is unlikely to have bought a new policy so I guess they have to take the loss.

[ditchcrawler]

Business policy or not the insurance policy would have terms that would need to be complied with. If the risks change and you don't inform the insurer they have a right to refuse to pay out. I think the insurance became invalid once the boats were evicted from their operating base.

The receiver is unlikely to have bought a new policy so I guess they have to take the loss.

And does the reciever care solong as the sale makes enough to cover his costs, I think he gets paid first.

[Detling]

Many years ago we had a car flooded up to the top of the seats we got the engine running but the insurance co wrote the car off as a total loss as the silt in all the nooks and crannies would hold moisture causing the car to rust through from the inside of the doors cills etc. The same will apply to this boat only by completely removing all linings, and insulation if not sprayed, and then pressure washing and thorough drying ill you remove the silt and stop it harbouring damp.

[Ally]

Agreed, this has to be thought of as just a bare hull. However, if the steelwork is otherwise ok, a grand or thereabouts, makes for an extremely cheap hull.

Rip the lot out and start again.