Seahope
Well-known member
Scenario: Boat with large marine mortgage outstanding with 9 years outstanding suddenly sinks at its berth and the owners are told (say) that they are not covered for this scenario by their insurance policy. Boat is insured for £60k.
Repairs are estimated (say) in the £30 - £40k range (engines salvageable but need stripping & rebuilding). The owners do not have this sort of money readily available but have an excellent credit record.
Disclaimer: This scenario is purely hypotehical and does not reflect real people or actual events![Wink ;) ;)](data:image/gif;base64,R0lGODlhAQABAIAAAAAAAP///yH5BAEAAAAALAAAAAABAAEAAAIBRAA7)
How would you handle this situation and what are the realistic options?
Repairs are estimated (say) in the £30 - £40k range (engines salvageable but need stripping & rebuilding). The owners do not have this sort of money readily available but have an excellent credit record.
Disclaimer: This scenario is purely hypotehical and does not reflect real people or actual events
How would you handle this situation and what are the realistic options?