My camper is in the river now
In Minong, WI, by the Totagatic River. Any advice on negotiating with the insurance company. I described the damage to them and they said it's almost always a total loss in that situation. ...
Forum Discussion
CavemanCharlie wrote:RoyBell wrote:
Glad it all worked out.
My dad had his boat (45') in a barn over winter when one of the boats caught fire. It got major smoke damage. He pushed and pushed and got it totaled out. Came out to something like $260K in repairs for the smoke damage.
He was able to buy the boat from the insurance company for $80K as a salvage. He did some more cleaning and sold it for $150,000. Easy profit. Boat was super clean and imo, as good as before the smoke damage.
Took money made and bought a bigger boat.
I don't like insurance companies but, doing that is unethical. It is also another reason why our rates are so high.
Oh, and which part is unethical? The part where he paid $80K or the part where he sold it for more than he purchased it for :R
It was sold with full disclosure of what happened and the suggested repairs. When you invest 300K+ into a boat, your mindset is a little different when it's damaged. The insurance is also different than vehicle insurance.
