Get a Better Insurance Payout
Method: Ask for the Moon; Settle for Orbit
One of the guys in my marina cut too close to a day marker at 23 knots and banged up his port bow rail. He reported the incident to his insurance agent, who sent a surveyor and offered $1,775. The yard estimate was $3,356. He called the agent, asking for complete coverage. This gave him room to negotiate downward. The discussion went back and forth and, as the concessions by the insurer got smaller, he knew it was time to strike a deal. The final settlement for $2,800 included all new parts plus some cosmetic fiberglass work.