Sunk SeaCraft - My Game plan to Move Forward

[peterb]

Good evening all.

First things first, thanks for the great support that I have received from so many of you. Between having Finster there to pull her out, and all of the advice as to what I can do, it is amazing.

Classic SeaCraft owners are clearly not your typical boat owners. They are a special breed of cat. If you don't believe me just look at some of Don B's and Finsters's recent posts.

Amyway, here is the lay of the land.

I have settled up with the insurance company. They paid me the 100 cents on the dollar for what I had her insured at (not enough to get an exact replacement, but it will help get me there).

Also, I bought her back from the insurance company.

Here is what she looked like before and during the sinking.
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As soon as I got her out of the water I brought her to my friendly Yamaha mechanic. He had both engines running within a half hour after I dropped off the bost. He pickled them but that was it.

He said that I had 3 choices with the engines.

First, I could be a minimalist and just roll the dice by replacing the starters, alternators and several other parts. Under this setup, I could have the engines work fine for some time or they dedice to go on me at some point done the road.

Second, I could dump up to $4k into each engine and get them back into decent shape.

Lastly, I could replace the engines all together.

Here is what i have decided to do.

First, I am now looking for another boat. I would prefer to stay in the SeaCraft family. I would like a pretty clean boat. I hope to be in the financial position to pull the trigger by mid to late January. If I can't find another SeaCraft I may end up with either a Albemarle 24 CC, 23' Regulator or something else along those lines. Also, i am even considering getting a 20 foot SeaCraft around the corner from me. i think that I can get it for a good deal. We will see.

If anyone sees anything out there, please let me know.

Second, I will be putting up my current baby for sale in mid to late January. I will sell her for a fair price. The sale will include everything that is on her right now. this could be a great deal for someone out there.

When I am ready I will put her for sale on this great web site.

[warthog5]

Rebuild it.
Now's the time for a transom face lift & bracket.

But then you may not be a candate for rebuilding a boat. You must enjoy the build as much as fishing the boat. It's not for everyone.

[Yamtt125]

I think wart might be right.....a new transom with a bracket would make that boat alot bigger. It'll just be like getting a new boat!!

What every you chose to do, good luck.
Hopefully you'll stay with a seacraft.

[Bigshrimpin]

Pete - I don't want to ruin your bargaining position, but I am curious - How much did the insurance company sell the boat for?
Good Luck with whatever you decide . . . A bracket would be great on that boat with a single 250 Suzuki or twin 115 Suzuki's. But you'll probably have a bigger pool of money if you sell the boat.

[firemanli]

I have settled up with the insurance company. They paid me the 100 cents on the dollar for what I had her insured at (not enough to get an exact replacement, but it will help get me there).

Every boat owner should/needs to have insurances issued on an Agreed Value basis (no depreciation or deductible are applied on a total loss) compared to an ACV policy (actual cash value which is based upon depreciation).

Everyone should check how much they have there boat insured for. Sometimes you can increase this amount for a very small increase in premium.

I would recommend anyone who doesn't have and agreed value policy, (if you don't know check today!) to get one.

In my experience, one great boat insurance company is Boater's Insurance (website).

Good Luck with your restore!

A

ps. for your repower I'd check out the new Verado Power, they are AWESOME !

[Bigshrimpin]

Uhhhh . . . The website says that "No Boats over 15 years of age accepted"

in case you don't remember what site this is . . . you are advertising on "CLASSIC"seacaft.com

[BA17]

I have progressive. Agreed value policy. They are very easy to work with.

BA

[Finster]

Who's the underwriter? Give us the particulars of your incident.
It's never cut and dry when it comes to boats....

[Old'sCool]

Charter Lakes w/agreed value here.....