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Hurricane Damaged Boats

Discussion in 'General Yachting Discussion' started by catamaran, Nov 22, 2005.

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  1. catamaran, Nov 22, 2005
    #1
    catamaran

    catamaran New Member

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    After every major storm Yacht Brokerage Companys receive calls and emails from prospects that are looking for that “great deal” on a storm damaged boat.

    First of all, yes…., those great deals that one hears talked about on the docks do exist, but they are the rare bird and not the common find.

    Also, to be able to take advantage of any hurricane damaged boat deal there are a couple of assumptions that need to be understood.

    Also, to be able to take advantage of any hurricane damaged boat deal there are a couple of assumptions that need to be understood.

    1. It is assumed that the individual(s) is dealing with an honest seller who is telling them the truth and is not trying to hide anything. This is where an experienced and trusted broker becomes very valuable.
    2. It is also assumed that the individual(s) is very handy and experienced with boat repair and probably enjoys the smell of glass, paint, and fresh wood along with an assortment of various chemicals for cleaning and solvents for repairs. If one has to hire all of the people, or a boat yard, to do the work then this is most likely not for you. Yes, one can manage a major boat project and pay others to help, but expect to spend lots of time present and lots of time hands on.
    Also, remember that the luxury of a good surveyor, and haul for inspection, may not be available, or cost effective, so that individual must rely on their own knowledge and expertise to make the decision to buy or not.
    3. It is also assumed that the individual(s) can afford to lose most of their money invested in the project, because even the experts get stumped at times and have to Bail out at a loss.
  2. MacMcL, Nov 22, 2005
    #2
    MacMcL

    MacMcL Senior Member

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    Send them to: http://www.yachtsalvage.com

    Many insurance companies dispose of their salvage on this site. Sort of the Ebay of dead and dying boats.
  3. catamaran, Nov 23, 2005
    #3
    catamaran

    catamaran New Member

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    Has their been any research done on the effect of these active hurricane seasons? We have had two straigt horrific hurricane seasons. I feel like the next won't be any better. In the short term thier hasn't been enough evidence for a significant downturn on boating. Could anyone elaborate on this?
  4. catmando, Nov 26, 2005
    #4
    catmando

    catmando Senior Member

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    And don't forget the storm-damaged cars and other vehicles that will start showing up on the lots. I live in Texas so the Katrina/Rita vehicles are already here.
  5. catamaran, Nov 28, 2005
    #5
    catamaran

    catamaran New Member

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    Good Point! I did not even think about that. That is another problem that will cause for future problems.
  6. Kevin, Nov 28, 2005
    #6
    Kevin

    Kevin YF Moderator

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    I was under the impression those cars were just being scrapped, or at the very most being sold as "body in whites".
  7. catamaran, Nov 28, 2005
    #7
    catamaran

    catamaran New Member

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    are their any attempts on the thought of recycling these materials
  8. AMG, Nov 28, 2005
    #8
    AMG

    AMG YF Moderator

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    Oh yes, in Sweden we grow christmas trees from them...:)

    Attached Files:

  9. catamaran, Nov 28, 2005
    #9
    catamaran

    catamaran New Member

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    seems kind of useful and fun, but it will only work for a couple of months out of the year
  10. catmando, Nov 28, 2005
    #10
    catmando

    catmando Senior Member

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    I thought only Third World countries and the United States had dumps like that.:rolleyes:
  11. AMG, Nov 28, 2005
    #11
    AMG

    AMG YF Moderator

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    Maybe you are right. This one is about fifty years old, I mean not used the last fifty years or so, but now the whole area has become protected for another fifty years. As a museum if you like.

    Otherwise we are doing the small steel packages as the rest of you with our scrapped cars, also pieces of art in a way...:)
  12. YachtForums, Nov 28, 2005
    #12
    YachtForums

    YachtForums Administrator

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    On the subject of hurricane damaged boats... I spotted this Post Sportfish along New River in Ft. Lauderdale. One of the many fine boats available through hurricane salvage companies? :rolleyes:

    Buyer beware with hurricane damaged boats... it's what you CAN'T see that CAN cost you.

    Attached Files:

  13. catamaran, Nov 29, 2005
    #13
    catamaran

    catamaran New Member

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    There has been much discussion throughout the forum on the subject of the damage caused by these recent hurricanes. How is marine insurance being affected? About a year ago I read that premiums where going to skyrocket. My guess is that some new policies will be made that might put a damper on things.
  14. Kevin, Nov 29, 2005
    #14
    Kevin

    Kevin YF Moderator

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    Just read this today:

    No figures on Wilma yet...
  15. catamaran, Nov 29, 2005
    #15
    catamaran

    catamaran New Member

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    Wow, so when the numbers come in from Wilma it will completly surpass everything else
  16. YachtForums, Nov 29, 2005
    #16
    YachtForums

    YachtForums Administrator

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    Wilma's numbers (marine related) will not be anywhere near Katrina's. The damage to boats from Wilma was minimal from what I've seen, which includes touring the intracoastal from North Palm Beach to Southern Broward County.

    BUT... we have a mounting problem. Insurance, across a broad spectrum is being affected. Already, homeowners insurance for waterfront property in Florida is difficult to obtain and the primary insurer (state owned Citizens) is on the brink of bankruptcy. Rate hikes in excess of 100% have been proposed for the tri-county area. If this comes to pass, it may be the straw that broke the camels back for many homeowners.

    It's hard to say how this will effect the marine industry, but it's reasonable to assume we'll see rate hikes and/or increased deductibles. :(
  17. Arniev, Nov 30, 2005
    #17
    Arniev

    Arniev Senior Member

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    Carl,
    We've seen how much damage the hurricane did to fiberglass boats.
    What about those kevlar- and/or carbon fiber-reinforced boats? How did they stand up against the hurricane? Do you know of any that were damaged?
    Arnie
  18. AMG, Nov 30, 2005
    #18
    AMG

    AMG YF Moderator

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    I don´t know if Carl has more on this, but I guess you will never know if there is any damage to carbon reinforced boats. Mainly because there are few if any with carbon above the waterline and if so, it is most likely a racing boat stored out of the water.

    The kevlar and carbon in more normal boats is otherwise mainly used in internal stringers and spots of high stress. To make the boat strong without adding weight.

    But carbon as used in boats is also sensitive to shocks in the "wrong" direction and I think that outside the military applications it is rarely used to withstand collisions.
  19. Arniev, Nov 30, 2005
    #19
    Arniev

    Arniev Senior Member

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    Lars,
    Thanks for the info. Yes, you are right. We may never know if any of those kevlar or carbon-reinforced boats were damaged.
    Arnie
  20. Codger, Nov 30, 2005
    #20
    Codger

    Codger YF Wisdom Dept.

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    Give it a couple of months for all the data to be loaded. Any insurance broker worth his salt will be able to bring up the stats on damage by hull material or builder or any of a dozen other parameters. That information is what they'll use to come up with the damage risk level and determine the premium cost. The insurance industry gathers information to levels that most people wouldn't believe.
    What percentage of the total number of carbon fibre hulls in any given area made claims and what the cost of those claims was, will be information in the system
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