It was made clear to us that the insurance company would pay the face value, request the title and give us first bid on the boat with a nod and a wink that for a few hundred bucks we could buy it right back. The net difference at that point would have been a few hundred bucks and my longtime marine insurer would not insure the boat moving forward.
For the few hundred bucks, we passed. We remain insured by Seaworthy, who in our minds were excellent in every phase of the settlement - from having a salvage boat on the scene, despite gale winds, to expert advice and a ver fair and frank adjuster.
I think the sweat equity is evident in the final product. We did all the demo, glass work and painting ourselves. We had a buddy who is a cabinet maker help us source the teak at a very good price and then milled it and helped us do the install. We used a professional rigger - Ocean Rigging in Bridgeport - and they did a beautiful job.
At the end of the day, with the work we had ahead of us, the few hundred bucks differential hardly seemed worth it.
As I said before - karma.
Typhoon battery
Moderator: Jim Walsh