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Learn from my mistakes - Insurance Learnings

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On 1/22/2018 at 2:25 PM, conocean said:

DISCLAIMER: I absolutely love spending other people's money on their boats. Just ask Dino! :D

But nothing you said....wasn't correct :)

I just didn't spend as much money as you wanted me to.....but, I do have piece of mind that my new axel is perfect, tires new,  and yes, no rust inside the frame..I checked...so, I feel good about the decision to replace the axel....let's see.

I know in some time in the future, I'll need to replace the fuel tank...and when that time comes, I'll be probably taking it over to Bob @ Inshore Marine.

DC

 

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10 hours ago, conocean said:

However, if I were in your position then I'd be thinking about.....1) Safety. 2) Age of the boat. 3) Years I plan to keep it. 

Exactly.....

If you own it clear, like the vessel, the options are simple.....get it repaired "right" and keep it another "X" years.....

With the price of "new" vessels...to be honest, to drop $7-10K into something that will last you 10 more years...seems to be a good investment...

You can go out and spend $25-30K on a newer used boat and still have a problem down the road...but, if you have it done "right" meaning as Paul states - pull the cap, new fuel tank, etc. it might be worth while and you'll have essentially a new vessel....once the internal repairs are complete...a great glass guy like Bob can spray a new coat of Gelcoat on the deck, buff out the hull and wet sand, and you'll have a brand new boat...I don't know if this is $5k-10K or more....but, it could be worth the investment...

To get into a new boat - you are looking at $50-60K for a HPX or Pathfinder...and heck, unless you have cash - it's a 10K spot for a down payment and then 10 years of monthly...

Best of luck on your decision.....seems like the forum member Bob, provided some great insights....either way, remember, it's only fiberglass and $$$ and it can be fixed....

Get'r done now, during the slow season in the winter...once summer comes....all the glass guys will be doing the summer repair thing....

As a final note, while I know I'm speaking heresy, have you contacted anyone at Egret Boats? they are in NC and might be able to recommend a repair center or they might do it as well?   If you don't want to drive it down to Florida - it could be another alternative?   they work in the same industry and might be able to provide some direction...

 

DC

 

 

 

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Hey Dino - 

Good points, and kind of my thinking right now.  I do own the boat free and clear and frankly don't have the scratch to go drop 25K into a newer one that is still used and may end up with it's own set of issues.  While the estimates will ultimately determine what I do, my lean now is to fix her and keep her for as long as she'll last, which, based on my last MA, should be a very very long time.

As for Egret, yes, I did reach out to them but they weren't interested in doing work for other manufacturers.  

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So who does Surveys and what is the usual cost?  Is it a step-by-step inspection certified?  Similar to a house inspection prior to purchase?

**News Flash**  I did some research...just like a home inspector but for boats! 

 

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DavisIslander - sorry I didn't reply earlier.   I've seen surveys run anywhere from 400-1200 depending on the quality of the surveyor and who is hiring them.   The one Progressive hired charged them about 1200.   I suspect he'd be less than that if hired by an individual.   Your analogy of a house inspector is probably dead on - and the variability in quality of inspection is huge.   Every boat builder I've talked to laughs about surveyors missing obvious stuff.   So, if you hire one, make sure he's darned good and if he isn't looking in places that you can't get to yourself, ask for your money back.  

 

BTW, for anyone who happens across this thread and wants to follow the story, I've started a rebuild thread here:

 

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