Need some advice

[golfman]

I own a 1967 Sedan that sunk on me last weekend, went for a ride Friday night and hit something thought I spun the prop (did it before) was able to limp back to the marina not a easy thing to do with just one engine. Got a call from the marina next morning that she was sitting at the bottom I only cried for hour. The marina did a great job of raising her took about 4hrs fogged the engines. What I need some advice from anyone that sunk a boat about how to deal with the insurance co and is it worth saving with all that needs to be replaced,(SO SAD) I put a lot of blood sweat and beers into this boat not sure what the insurance will payout any thoughts of what a 1967 is worth a lot of original parts. Thanks George

[ddependo]

So sad. but this gives you a chance to redo the cabin to your taste. All electronics,gages,blowers etc are gone.Cushions can be took apart & dried out. Fresh water I hope. All paneling,celeing panels , cabnets are screwed in.
Where are you. Maybe some of us can help.
Good luck, Wayne

[golfman]

Do you think that the engines and tranny will be ok

[Fastjeff]

The oil needs to be changed several times after they are run.

Really sorry.

Jeff

[barkleydave]

Sorry to hear about the sinking. You did not mention what took her down?

The reality is in the boat world a '67 M sedan that has been on the bottom is worth salvage of aluminum.

If the hull is sound and you have the funds and you love the boat; you can bring her back!

Now the good news may be: If your policy states a total value then you insurance should pay that amount if it is determined by the insurance company to be a total loss. Most likely that is what they will do. If there is not a value on the policy (market value) or you have liability... then the game changes.


best of luck,

safe boating,

dave;

[marinetteman]

What length is she? In general an old boat can be replaced by buying a good used one. It's unlikely you will get what you have in her. Assume you get 7 to 10K for a 28ft in OK condition. 12-13 for 32 foot ... You could buy a 32 needing some work through John Althouse. http://marinetteforsale.com/32sfb79za.htm

In general, most electrical equipment on the boat is OK if she sank in fresh water, and it gets sprayed with protectant soon, not the electronics...
Get it indoors and drying with a dehumidifier. ASAP. If you are going to save her... you are on a clock. Get engines run with clean fuel and WD40 asap. Can you clean her up for half the insurance value and do you have the gumption to do it.

Sadly, The insurance company will likely want to take possession or offer a partial settlement. So let's say 4000 lbs of aluminum at .50-.90 cents per pound. Plus engines and part out value? A Marinette is a great deal for an insurance company compared to a FRP (fiberglass) boat. They will want to scrap the boat.

My 37 is insured for 28-38 K despite my huge investment. I would likely have to scrap her, and resell the engines to buy another boat.

She may be fixable, but can you buy a better Marinette boat for the insurance value + 5K of fixes ? Probably.

Marinette's are too cheap for their own good and too good for their price, if people realized how good a boat, a Marinette is.. the market would change drastically.
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If in doubt, haul it out. A marina owner in MD said that once. I now understand what he meant.

[golfman]

I run the Miss. north of St Louis out of St Charles Mo. Was out cruising on Friday night and hit something lost forward and reverse on port engine thought I spun a shaft because I had it happen before turned out that I tore off the Strut, and lost the shaft I have broken the strut before and have spun the a shaft before all a pain in the ass hard to believe that I lose the shaft. Insurance Co. said that I have replacement insurance not sure how they will come up with a number for a boat (classic) this old, sounds like they won't even sent out an adjuster the boat was a 6 out of 10 but I had hopes of improving more of this great boat, I worked the last 3 summers keeping her running and making it a nicer boat. Now I'm not so sure I want to keep going Its like losing a great dog if you know what I mean. Any advice on how to handle the insurance co is appreciated. George

[marinetteman]

I am guessing that you don't intend to fix this boat as it seems you didn't start the "dry it out and clean it" process by now.

Come up with 3-5 representative prices.
Get on NADAguides and get an approximate price there. Add in everything on the boat. Try to figure in every option (go to a later boat).
Go to MarinetteSales or Marinette.com and ask John Althouse for his opinion.
Get the survey value from the last survey.
Did you re-engine the boat? Did you have fresh water cooling for the engines? Any new electronics? Stuff on board?

Write up a justification.

Gather this info and come to a final price. I won't post a value here, as I don't know your boat.
The insurance company will want to scrap the boat, likely sight unseen.

[golfman]

Thanks for the info

[marinetteman]

Thanks for the info

I can only wish you the best... Good luck.

We are deeply sympathetic.

Send your list to the insurance company... as soon as you can and before they set a price.