|
After Hurricane Ike a lot of people who lost boats took the ins payoff and didn't replace them. So the market impact was negligible. I do know that a lot of owners didn't even try to prep their boats ahead of the storm....saw it as an opportunity to get out of the boating world since they weren't using them anyway.
In my own case, the adjuster drove by my boat (still afloat), took 4 photos from his car window and called it a total loss. P**sed me off as the damage was nowhere near the agreed value. It went to auction, got bought for virtually nothing and is now on Lake Michigan, looking better than new.
I tried to buy it back myself but had too much going on in my life and missed it. (Technically my college roommate was the "buyer").
Quite a few trawlers and sportfishers got juicy new diesels though.
|