John Bacon Posted September 9, 2009 Report Share Posted September 9, 2009 Unfortunately, the stormy weather on August 20th had an adverse impact on my boat's ability to remain above water. The insurance company has declared it a write-off. There is a silver lining, the insurance company will provide a little over $10k towards a new boat. I don't want to spend too much more than that. I am in Scarborough, I would prefer to purchase something fairly local. Does anybody have recommendations on dealers that I should visit or dealers that I should avoid? I have looked at the Legend 151 Angler on their web site. Does anybody have experience with this boat? Are there any other models or brands in this price range that I should consider. Link to comment Share on other sites More sharing options...
ohhenrygsr Posted September 9, 2009 Report Share Posted September 9, 2009 Have you considered buying used with warranty still? Link to comment Share on other sites More sharing options...
John Bacon Posted September 9, 2009 Author Report Share Posted September 9, 2009 Have you considered buying used with warranty still? I am not sure if that would qualify for insurance purposes. They offered me $3,650 cash or $10k towards a new boat. I think it has to be a brand new boat to qualify for the full $10k. Link to comment Share on other sites More sharing options...
ohhenrygsr Posted September 10, 2009 Report Share Posted September 10, 2009 Hahaha i see your problem. Would 10K down payment work? lol Link to comment Share on other sites More sharing options...
John Bacon Posted September 10, 2009 Author Report Share Posted September 10, 2009 Hahaha i see your problem. Would 10K down payment work? lol Not really. I am trying to minimize the amount of my own money that I spend. The cottage is going up for sale in the spring. I won't be getting too much use out of the boat after that. Link to comment Share on other sites More sharing options...
POLLIWOGG Posted September 11, 2009 Report Share Posted September 11, 2009 How do they justify something like that? Link to comment Share on other sites More sharing options...
John Bacon Posted September 11, 2009 Author Report Share Posted September 11, 2009 How do they justify something like that? I assume that you mean how do they justify the difference between the cash settlement and the amount they will pay towards a new boat. The cash settlement is based on the market value of the used boat; the payment towards a new boat is based on the amount that the boat was insurred for. Maybe someone from the insurance industry can justify why they only pay the market value if you take cash and the original cost of you replace the boat. Does anybody have any opinions on the various brands available? I am leaning towards Legend at this point but I am considering Princecraft, Tracker, Lund, and Misty River as well. Are there any other brands I should consider? Does anybody know if there is a Misty River dealer in the eastern GTA or if there is a Misty River web site? I didn't find one on Google. Link to comment Share on other sites More sharing options...
pikehunter Posted September 12, 2009 Report Share Posted September 12, 2009 (edited) They offered me $3,650 cash or $10k towards a new boat Don't you just love the way they pull this off? If that's what it's worth then that's what it's worth, pay up the 10 G's that's what you paid your premium for so that is what you should get. The insurance co. is doing the same on my sewer back up claim, 40 % of the replacement cost but if replaced then 100% but I have to pay up front and submit the receipt. So much for the full replacement value which I'm paying for. And they wonder why the customer gets worked up. Good luck with your search. Before you commit to a purchase make sure that they will approve and will pay up the full amount. My neighbour was told by her adjuster she could spend $4000 for a new furnace. So she gets a new furnace and A/C put in and pays $6000 out of her own pocket, the $2000 over was for the A/C which she never had before but was aware that this was not covered and had to pay for this part of the deal. The adjuster comes back with a cheque for $2000!!! stating that since she didn't order it through the insurance companies disaster clean up contractor that is all they will give her. So beware! You don't want fork out 10 grand and get kicked in the butt from your insurance company. Confirm with them first for purchase approval. Edited September 12, 2009 by pikehunter Link to comment Share on other sites More sharing options...
MAzing Posted September 12, 2009 Report Share Posted September 12, 2009 You just need a friend in the business of selling new boats, maybe you can walk away with $9k cash out of it. Link to comment Share on other sites More sharing options...
FISHINGNUT Posted September 12, 2009 Report Share Posted September 12, 2009 I have looked at the Legend 151 Angler on their web site. Does anybody have experience with this boat? . My uncle has one with a 25hp 4 stroke and loves it easy to tow easy to store very wide and deep boat for the length . Link to comment Share on other sites More sharing options...
alexmedic Posted September 12, 2009 Report Share Posted September 12, 2009 I knew I guy that bought the 151 and found the 25hp very under-powered. He ended up upgrading after the fact to a 50hp and it cost him big!! Apparently this year's comes with a 20hp... Link to comment Share on other sites More sharing options...
John Bacon Posted September 13, 2009 Author Report Share Posted September 13, 2009 I knew I guy that bought the 151 and found the 25hp very under-powered. He ended up upgrading after the fact to a 50hp and it cost him big!! Apparently this year's comes with a 20hp... Yes, if I ge the 151 it will be with a 50 hp. Thanks for your input. Link to comment Share on other sites More sharing options...
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