[Rhodes22-list] Re: Boat US insurance

[andrew collins]

On 4/4/06, DCLewis1 at aol.com <DCLewis1 at aol.com> wrote:
>
>
> Ed,
>
> Re getting something written down regarding refurbishment.  You may be
> right, but it seems to me that there are certain guidelines that would
> clarify
> what refurbishment means at GBI, and also baseline what the
> purchase  represents.
> For example:
> - Is there actually a written warranty?   I suppose I'll find out this
> Sat,
> but as I sit here, I don't know.  If  there's not, it might behoove Stan
> to
> think of a suitably weasel worded document  - for his refurbs.  Just
> having a
> copy of that document on GBI letterhead  might help underwriters
> understand what
> they're dealing with when they are  dealing with a refurb.
> - Are there specific checks that every refurb goes  through?  I really
> don't
> know.  If there are, it might give  underwriters a sense that this old
> hull is
> almost new again.
> - There are some  things you can say about the refurb process, I think.
> For
> example, the basic  price of each boat to be refurbed will vary depending
> on
> the configuration of  the specific boat, it's condition, and it's age.  To
> the
> extent that an  existing system or part on a refurbished boat is in good
> operational order it  will not be fixed or improved, however, where
> deficiencies
> are noted they will  be fixed, those costs are part of the basic price of
> any
> refurbished  vessel.  The basic refurbished vessel will conform in all
> respects
> to  the terms of the refrub vessel warranty.   If the purchaser desires
> improvements to working systems on the vessel,  they may, at an
> additional  cost,
> have GBI effect those improvements as part of the refurbishment
> process  and it
> will be done to factory specs and an explicit part of the
> factory  warranty.
> Examples:
> - You want captain seats and they don't exist on  the refurbished boat,
> GBI
> modify the boatplan as needed and buy and install  seats GBI
> specifications
> (i.e. now part of the warranty).
> - You want an  IMF and it doesn't exist on the boat to be refurbished, GBI
> will buy and install  an IMF system to factory specifications (i.e. now
> part of
> the warranty).
> -  You want a UPP and it doesn't exist on the boat to be refurbished, GBI
> will  build and install a UPP system to factory specifications (i.e. now
> part of
> the  warranty).
>
> There could be an options list for upgrades, just as there is an options
> list for new boats, realizing that some options just don't make sense
> because
> they are already part of the basic boat to be refurb'd.  For example,
> our  basic
> boat to be refurb'd came with 2 batteries on board - no reason to pay for
> the installation of a second battery, it's there and in some real sense
> the  2nd
> battery was part of the "basic" package.
>
> These possible upgrades may, or may not, be cost effective, but they
> do  tell
> the prospective buyer what the process is.  You start with the
> basic  price
> and whatever is on the boat to be refurbed and you add or subtract as
> appropriate.  You give the prospective purchaser or underwriter a
> price  list that
> lays it all out.
>
> Just having a written warranty and something like the material above
> expanded on and written down on GBI letterhead with a supporting options
> list  and
> prices would help justify the price of a refurb to insurers.  Also,
> it  would
> make any explanation of the difference between an 89 refurbed in
> 06  (89R06) and
> an 89 never refurbed a whole lot easier and meaningful.
>
> I don't recall this being on the GBI site.  As I recall what's
> there's  just
> a teaser to call Stan and find out more.  He might save himself a  lot of
> useless phone calls, and prospective purchasers and
> certainly  insurers  might
> get a quicker appreciation of the GBI refurbishment  process, if he had
> something like the above on his website and available as  hardcopy for
> insurers.
>
> JMO, and it really doesn't matter because I'm sure Stan is going to do
> what
> he want's to do.
>
> Dave
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>

Dave and others seeking boat insurance -

At the suggestion of the phone rep from Boat US, I sent Boat US the GBI
"Billing Work Sheet" for my recycled '86 by fax, attention the Underwriter's
Dept (fax 703 461 2840) along with my on-line application reference number,
after my explanation of the "recycled" concept didn't go over so well.
Changing the terms to 'factory refurbished' and especially 'new boat
guarantee' seemed to go over well.
I did have to add a GBI letterhead to the work sheet, as Stan just uses
plain paper, but this is easily accomplished using photocopiers and
computers.
We settled on an Agreed Hull Value slightly below my total cost, but that
seemed reasonable as the hull is 20 years old, no matter how you slice it.
Stan does not tire of pointing this out to me, i think he is correctly
figuring me for an easy sell on a new one 2 years down the line. God willing
and if the river don't rise. Anyway, I called back the next day, the Agreed
Hull Value had been upgraded overnight to the amount I had asked for, and I
had an insurance binder faxed to me an hour later.

I was also in an all-fired hurry because the boat desk dragon lady down at
Town Hall wanted the paperwork straightened out, and I had already had two
weeks of delays with the DMV already having had this hull in their system in
years past. You'd think that would make it easier. After all, the season
starts on the 15th!
--
Andrew