Insurance Betterment

[rwoofer]

Just curious as to people views on what is betterment or not. My 20ft boat is getting repaired and that means the one piece foam backed hull liner on one side has to be replaced. The existing material is no longer available and the closest available material is quite close in colour, but very different in texture (leatherette vs dappled). Basically it will be obvious the boat has been repaired. The only solution is for both sides of the hull to have the foam backed vinyl replaced, so that the repair is not obvious.

By far the majority of the cost is in the labour rather than materials. I would argue that nothing is better ie. foam back vinyl is still foam backed vinyl, it is just that the boat has been made cosmetically consistent so that the repair is not obvious and the boat has neither increased in value or decreased in value.

What do others think?

 

[chewi]

I bent my mast a few years ago.
my insurence wanted 30% towards the new running rigging as their assessment of betterment , but otherwise the claim paid for a new mast, boom, standing rigging, bottlescrews, lights,aerial and fitting.

Given that foam lining collapses after a number of years anyway, if they do both sides on the insurance and wanted 30% towards the "betterment" of the undamaged side I'd be happy with that.


That was with KC powell (now retired, sold out to GJW), but I still have the same "Quadrant" policy, now with Mercia Marine. They have been excellent, esp over singlehanding, towing, swinging moorings, including dealing with claims (one accident in 2006, several breakins in mid 90's.

 

[rwoofer]

If this helps, the existing vinyl is in near perfect condition, as we cut a sample to test.

 

[Stemar]

If this helps, the existing vinyl is in near perfect condition, as we cut a sample to test.

In that case, I'd argue that you're simply put back in the position you were before the incident. You may not win, but you'll almost certainly get a better offer out of the insurers. They have a responsibility to you, but they's see it as a long way second to their responsibility to their bottom line.

For the value of the claim it may not be worth it, but engaging your own loss adjuster would almost certainly get you more than if you're fighting on your own.

 

[[3889]]

My policy (Y) specifically excludes additional repair costs for the purposes of matching existing parts. Still worth trying to negotiate your contribution downwards, though.

 

[savageseadog]

My policy (Y) specifically excludes additional repair costs for the purposes of matching existing parts. Still worth trying to negotiate your contribution downwards, though.

A bit of a dud policy because you're going to end up with a degraded boat possibly through no fault of your own.

 

[Philiz]

Just curious as to people views on what is betterment or not. My 20ft boat is getting repaired and that means the one piece foam backed hull liner on one side has to be replaced. The existing material is no longer available and the closest available material is quite close in colour, but very different in texture (leatherette vs dappled). Basically it will be obvious the boat has been repaired. The only solution is for both sides of the hull to have the foam backed vinyl replaced, so that the repair is not obvious.

By far the majority of the cost is in the labour rather than materials. I would argue that nothing is better ie. foam back vinyl is still foam backed vinyl, it is just that the boat has been made cosmetically consistent so that the repair is not obvious and the boat has neither increased in value or decreased in value.

What do others think?

You would need to speak to someone in insurance law, but to the best of my knowledge the most recent ombudsman ruling stated that the insured must benefit financially, presumebly when the insured item is sold, for a betterment contribution to be justified. It might also be worthwhile checking if there is a betterment clause in the policy. From what you say you should have a good arguement, however make sure your policy doesn't also have an obsolete parts clause otherwise you could end up worse off if you start an arguement.

 

[KAL]

If you went to sell and a purchaser objected to the different finishes on either side and offered you less, then you would be in 'worser-ment' wouldn't you? Might be worth mentioning.