Seahope
Well-Known Member
Today the Insurer has send me an email confirming that they will repay me for the invoices that I have already paid and will pay for the repair costs to my boat 
As many of you will know, the Insurer's initial position was that my policy did not cover me. I would once again like to thank all those of you who offered me your support and advice as this was very comforting during the immediate aftermath.
A REALLY BIG THANK YOU is due to JFM for the amazing support and advice he provided to me and for the 'killer' letter he drafted which clearly articulated that not only was the Insurer's position incorrect it was untenable as demonstrated by the findings of the metallurgical report that they had commissioned.
Another REALLY BIG THANK YOU is due to David Allen of Southwater Marine who had been extremely helpful and supportive during those difficult days and appreciative of my cash flow situation whilst undertaking the repair work. I am sure David treats his other customer with the same degree of care, which I am sure is why his engineers are so busy.
I suppose grudging appreciation must be given to the Insurer for their willingness to change their position relatively quickly, considering
For anyone considering buying a boat with a marine mortgage please beware that if your boat suffers from an accident where it loses value and the Insurer won't pay your claim that your lender may well seek for immediate repayment of your mortgage and will come after your other assets
SWMBO took just such a call from our lender shortly after our insurer had confirmed that due to the metallurgists report confirming corrosion that they were unable to meet our claim. It was only after I spoke to them the next day to remind them I hadn't missed a repayment and reassure them that the boat wasn't valueless and I was able to self-fund and begin the repairs to return the boat to the appropriate value that they because reasonable again.
On the plus side, I can now get a bow thruster installed
To the purists out there who think they aren't necessary on a twin engine boat 
As many of you will know, the Insurer's initial position was that my policy did not cover me. I would once again like to thank all those of you who offered me your support and advice as this was very comforting during the immediate aftermath.
A REALLY BIG THANK YOU is due to JFM for the amazing support and advice he provided to me and for the 'killer' letter he drafted which clearly articulated that not only was the Insurer's position incorrect it was untenable as demonstrated by the findings of the metallurgical report that they had commissioned.
Another REALLY BIG THANK YOU is due to David Allen of Southwater Marine who had been extremely helpful and supportive during those difficult days and appreciative of my cash flow situation whilst undertaking the repair work. I am sure David treats his other customer with the same degree of care, which I am sure is why his engineers are so busy.
I suppose grudging appreciation must be given to the Insurer for their willingness to change their position relatively quickly, considering
For anyone considering buying a boat with a marine mortgage please beware that if your boat suffers from an accident where it loses value and the Insurer won't pay your claim that your lender may well seek for immediate repayment of your mortgage and will come after your other assets
SWMBO took just such a call from our lender shortly after our insurer had confirmed that due to the metallurgists report confirming corrosion that they were unable to meet our claim. It was only after I spoke to them the next day to remind them I hadn't missed a repayment and reassure them that the boat wasn't valueless and I was able to self-fund and begin the repairs to return the boat to the appropriate value that they because reasonable again.On the plus side, I can now get a bow thruster installed
To the purists out there who think they aren't necessary on a twin engine boat 
I think the contract electrician they use could be on the critical path as he is a little booked up.
