1. Use the full 4 digit year for everything you are asking your question about. Example: 1962, 1988, 2000, 2011
2. Include the correct name of your Whaler model. Example: Montauk 17, Montauk 170, Outrage 26, Outrage 260
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Assigning value to BW17SS after accident cause by others
cpe2385	#1  Posted on 06/15/15 - 1:25 PM
Member Posts: 1 Comments: 0 Joined: 01/04/13	I was involved in a wreck over the weekend where my 1984 17' SS with 1984 Evinrude 90, our trailer and thus our tow vehicle were rear ended. Everyone was ok. The car that rear ended us has to be totaled. Our trailer will likely be totaled, our whaler will require a significant amount of gelcoat work, potentially some fiberglass work (hoping no structural issues arise) and our motor withstood a reasonable impact but appears to be ok. I know what I paid and I know what NADA quotes the boat and motor to be worth. My question is this: How do I assign a true replacement value on an antique boat that is just about irreplaceable? A similar question for the motor- I could find a comparable used motor but would lack a knowledge of maintenance, condition and reliability. How can I assign value to the motor? Ultimately, I want the trailer replaced, boat repaired and a new motor. I also think that is reasonable given how important reliability is when on the water. I want to have all the information at hand so as to prevent the insurance company from "totaling" the whole package. Ya'lls input is always invaluable. Thanks,
spuds	#2  Posted on 06/15/15 - 1:40 PM
Member Personal Page Posts: 166 Comments: 5 Joined: 08/01/07	That's a good question and one that I have thought about often. My two Whalers are insured for an agreed upon value, with a separate value for the trailer. Let's say the total comes to $18K for the 1985 Outrage 18. I figure that if the total repairs come to or exceed the total insured value that I should be able to just take the money and go look for a replacement. 1985 Outrage 18
gchuba	#3  Posted on 06/15/15 - 1:44 PM
Member Posts: 1675 Comments: 0 Joined: 03/31/13	Tough one after the fact. I have a declared value for insurance of about $25,000 for my 1979 22' Revenge. Sounds like appraisers will be making the rounds. Similar to a vintage vehicle. Is it a rust bucket or car show quality. Try documenting work and really get comps in all the for sale listings. Good luck. Garris
Phil T	#4  Posted on 06/16/15 - 8:08 AM
Administrator Personal Page Personal Album Project Albums Posts: 6985 Comments: 6 Joined: 03/26/05	Replacement value can be determined by looking to see what a similar vintage Boston Whaler 17 is selling for on the used boating market. While NADA valuation is often discussed, the values assigned for Boston Whaler by them are totally inaccurate and should not be discussed or considered. Sites to look at include: Craigslist (search FL to VA) Boattrader.com yachtworld.com You may need to document the prior condition of the damaged boat in order to justify the replacement cost.
dgoodhue	#5  Posted on 06/16/15 - 9:46 AM
Member Posts: 278 Comments: 0 Joined: 10/04/05	I don't know if NADA adjusted the values but today I looked at my 15' SS with the original Evinrude motor. NADA valued my boat at 6500. I looked my boat up 5 years ago and it was around 2000 for the boat and motor. Dave
gentilebrian	#6  Posted on 06/16/15 - 11:16 AM
Member Posts: 59 Comments: 0 Joined: 09/13/07	what you paid for it and the money you have it in are none of their business unless it needs to be bought up later AFTER a appraisal by a appraiser YOU choose. I got hit 10 years ago and was in a 71 Pontiac lemans and to get value needed a appraiser. What they initially offered was a joke. Also do some searches online with the insurance company. Some are easier to deal with then others. Even after it is fixed you now have to consider diminished value. You will now have a hull that has been in a serious accident and even it if it the same and maybe even better after the repairs a buyer would still be deterred when buying a boat with hull damage. I know if I had 2 boats to choose from and one had the hull repaired I would only consider the repaired hull boat if it was much lower in price. I would also speak with Boston Whaler and have them recommend a shop to get the hull repairs done,
gchuba	#7  Posted on 06/16/15 - 11:53 AM
Member Posts: 1675 Comments: 0 Joined: 03/31/13	What you feel, and what the appraised value is, may very well get litigated. Like Phil and I suggested....really do your research for similar comparable boats in the local area as well as national level. Documented upgrades help. Spuds and I both placed a value of our boats with our insurance. That takes the guesswork out of situations like this. I realize this is after the fact which might not help you but.....those other members reading this post. A stated insurance value, especially on the older hulls, well worth the investment. I have a 1981 VW diesel pick up with a crate motor. It has comprehensive coverage with stated value of $7000. I just clarified with my agent my upgrades. I would cringe at the amount I would be offered if I was rear ended without my stated value. It really did not cost much more than some of my other vehicles. Good luck. Really do your home work. Garris
Phil T	#8  Posted on 06/16/15 - 12:40 PM
Administrator Personal Page Personal Album Project Albums Posts: 6985 Comments: 6 Joined: 03/26/05	I think the questions being asked to help CPE tell the offender's insurance company how much they need to pay him for the damage caused. Many of us have learned or read of the huge gap between what an insurance carrier wants to pay and what is reasonable in the cases of theft or accidents. It can be a vicious battle.
Finnegan	#9  Posted on 06/16/15 - 1:48 PM
Member Posts: 1925 Comments: 16 Joined: 05/02/08	Just as a starting point, and without seeing the condition of the boat, I would value the 17 SS at around $7k maximum, the engine (only) at 2-2.5 K, and the trailer at 1K. That puts the packaged value at about 10K, which should be in the range. Montauks in similar condition, with similar power, should bring more. Condition of the boat and hull are the most important considerations, and where stated value most often applies. On engines, stated value means little, except for truly classic outboards, and replacement coverage on them does not exist, so there is no way an insurance company will pay for a new one as a replacement for a one 30 years old. Engines are like cars - they are valued on an Actual Cash Value basis, which means what the market value is. Don't forget that engine accessories, such as prop, control, cables, ignition harness and gauges are additional value to the bare engine, but not considered part of the boat if it is an outboard. So when insuring an engine, be sure to add these additional value to your insurance.