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wvfisherman

Repair or Trade:Need your help again

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Need your help again. I have a 2000 16 ft. Crestline with a 40 hp Johnson motor. Just last week I was looking at my boat and motor and found a piece broke off of my lower unit with about a two inch crack near my prop. I can get it repaired with a rebuilt lower unit for $1850 plus and the insurance company will pay $1350. I found a 2002 50 hp Johnson motor for $2250. What would be the best to do take the $1350 and repair the motor or take the $1350 and pay the difference and trade for the 2002 50 hp Johnson? I know that I have taken care of my 40 hp motor but don't know anything about the 50 hp motor, but I am getting 10 exta hp. and a newer motor. If I would trade and not repair my 40 hp, would that be dishonest with the insurance company?

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If I were you, I would put the extra money up and go with the newer motor.

Its a 2002, so you shouldnt have any issues with it. Its not like its a 1972, to which you dont know the use/abuse it went through before.

 

If I would trade and not repair my 40 hp, would that be dishonest with the insurance company?

Anytime you get the chance to get some money from an insurance company, TAKE IT. They dont hesitate to take yours at every chance they get!

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Not really dishonest, a little white lie maybe. They have a commitment to repair your motor/boat if you damage it minus their deductible. Who does the repair and what you do with the money they are willing to pay is up to you. That's your right.

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It is not dishonest at all... It is your business whether you repair, buy another, or just scrap it and move on. All they care about is the claim is completed. Now if the boat burns up or is stolen and you claim the entire thing but did not repair or relace the part, then you will have problems....

 

Burt :)

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I agree with Burtess. When the insurance company cuts you a cheque, it is YOUR money to do with as you please. Fix the 40, buy a new one or spend it all on bubble gum. It's YOUR money.

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Problem will be.. the insurance company generally only pays the repair shop directly less the deductible. You pay the deductible to the shop before they'll release it. Not too often the insurance company cuts a cheque direct, to the customer, for a repair.

Edited by irishfield

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As Wayne said, or they may issue a cheque payable to both you and the repair shop in which case you would both have to sign it for cashing. I had a customer last fall in that situation where State Farm made the cheque out in both names.

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Last year my truck got broken into and over $4,000 worth of electronics and tools were stolen from it.

My insurance company cut me a cheque, no questions asked. Did I replace the in-dash DVD player I had, and my tools..? NOPE.

Put a fence in the backyard, and painted the house.

 

Like they said, its YOUR money once you get it. Thats why you pay insurance, to get your money back if something happens.

What you choose to do with YOUR money is up to you.

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