Forum Discussion
Francesca_Knowl
Jul 15, 2013Explorer
I'd only add the caveat there's only a "choice" to disclose such info if the insurance company simply paid off for the repairs, rig remaining in your possession/name throughout.
If instead they "totaled" it and gave you some kind of cash payoff and you bought it back/repaired it yourself, you'd be smartest to disclose when you trade/sell.
In that case, it will show up in the rig's paperwork and if you don't reveal to whoever you're dealing with you could wind up in trouble.
If instead they "totaled" it and gave you some kind of cash payoff and you bought it back/repaired it yourself, you'd be smartest to disclose when you trade/sell.
In that case, it will show up in the rig's paperwork and if you don't reveal to whoever you're dealing with you could wind up in trouble.
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