[Capt. Debbie]

Who pays for disposal cost of your boat?

Originally Posted by dakota560

Will find out soon enough but my guess is my insurance will handle the claim and subrogate against Seaport's liability insurance for recovery. If there was a third party contractor involved in the accident, which is why I asked the question to captnvinny I initially did, my insurance company will go after them as well for reimbursement. Monmouth County Prosecutor's office has to finish their investigation to start the ball rolling and their findings involving cause, negligence etc. will influence I assume how the insurance company proceeds. That's my general understanding of how the claim process will work.

We have, which I believe is fortunate, what's called an "Agreed Upon Value (AUV)" policy. SO I believe in the case of a complete loss which this is, the insurance company will settle the claim for the stated agree upon value of the boat in the policy, less possibly a stated deductible. Again will know after filing a claim but that's my understanding. Other policies without an AUV clause I believe market value or replacement cost factors into the settlement calculation. Again that's my 50,000 foot understanding.