Sail - July 2018

JULY 2018

A STORM DAMAGED BOAT

It may be an ill wind that blows no one any good, but still

beware that storm-damaged bargain boat...

By Wayne Canning

T

his past hurricane season was par-

ticularly hard on boat owners in both

the Caribbean and the Florida and

Gulf coasts, thanks to Harvey, Irma

and Maria. BoatUS has estimated that more

than 64,000 boats were damaged in the United

States alone. While for many boat owners these

storms have meant a loss, for others, they repre-

sented a possible opportunity.

In fact, before Irma had even cleared the

coast, many bargain hunters were already look-

ing for deals. But be warned: while this might

seem like a great way to get a nice boat at a

bargain price, some caution and common sense

are needed to avoid purchasing a proverbial

hole in the water where your money vanishes

faster than light into a black hole.

First and foremost, before rushing of to a

hurricane zone to i nd the perfect boat, it is best

to take your time. h e better deals on damaged

boats will come from insurance sales—since

these boats tend to have been worth more prior

to a loss than an uninsured boat—and it ot en

takes weeks or even months for the insurance

companies to evaluate and arrange for salvage

of the boats they insure. As a result, the good

deals will not be gone if you wait. In fact, wait- PHOTOS BY

PETER NIELSEN

BOAT WORKS KNOWHOW

PURCHASING