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Miami drawbridge crashes down on MY Rockstar

Discussion in 'General Yachting Discussion' started by Pascal, Dec 2, 2014.

  1. lovinlifenc

    lovinlifenc Member

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    HUH? Why would it take years to fix the boat? The owner's insurance company will do their survey/investigation, then quickly pursue having the yacht fixed. Then they will pursue suing the responsible entities, should it be determined to be someone other than the owner. That's why it is called insurance.
  2. olderboater

    olderboater Senior Member

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    I'm afraid you haven't dealt in seven figure insurance claims. It just doesn't work like that. Then the work has to be scheduled. Rybovich is one yard that could be likely. They'd have to work it into a schedule. Then once that is done you have the time actually doing the work.

    You've got fabrication of a new bridge. You have replacement of equipment. From the force you may have damage beyond the upper deck. You have a helm station destroyed.

    Look at the May 18 Northern Marine disaster. Last I knew there still hasn't been an insurance settlement. Now admittedly that was more money.

    And until the owner and the insurer agree on what is to be done and by whom and any amounts work will not start. I could see a major argument over who would do the work. What if the owner wants Trinity to do it? Who then pays for getting the boat there? I don't know how the policy read but if the coverage was for depreciated rather than replacement value then there are real issues.

    Best case scenario I'd see this boat back on the water in 15-18 months. Worse case 3 years. My guess is 18-24 months.
  3. lovinlifenc

    lovinlifenc Member

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    Sure, you are the only one who has experience insuring expensive assets. How many 7 figure yacht insurance situations have you been involved in?

    The yacht you cite as evidence of your beliefs was owned by the now bankrupt shipyard, and was not in the future owner's posession or insured by said owner.

    Do you have any actual examples?
  4. olderboater

    olderboater Senior Member

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    Actually the buyer was a named insured on the Northern yacht. Cause, extent of the damage, value of the boat are big issues though and I do admit it's not a comparable situation.

    I've never personally been involved in a 7 figure yacht insurance claim and hope never to be. In my former job, I was involved in 7 digit claims and of the three, two proceeded very slowly. Only one was an event where we owned the company. The other two came with acquisitions. I'm also familiar with three yacht claims. One was resolved quickly (and the yacht totaled). The other two took a very long time with one requiring the courts resolve it.

    I reiterated it's simply my belief that this situation this time is complex and just the type claim that normally proceeds slowly. I also do know how long it typically takes just to do work of this magnitude on a boat that size. And last I've seen just refitting on a Trinity in this size range without the structural issues take over two years.
  5. olderboater

    olderboater Senior Member

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    I hope for their sake I'm wrong. If the extent of the work is to just "fix the hardtop" then that will be less than I think. In some ways this is like predicting the winner of one of Sunday's football games. It's fair to project anything. I can't guarantee I'll be right nor can you. I imagine we'll have someone on here before long who has actually gotten a close up look at the damaged boat.
  6. Capt Ralph

    Capt Ralph Senior Member

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    Excuse me;
    How many 7 figure yacht claims have you been involved in?
    I have been in a few myself but will not mention any case history either.
    Do you have a spare top in your inventory? Can you make one quickly?

    This is not a BayLiner claim, this is a floating investment, business, livelihood for 8 to 12 people and something that your ramblings prove you know nothing about.

    Now that you have blown a bunch of hot air around (methane) take a break, relax and give us a break.
  7. Pascal

    Pascal Senior Member

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    I have two big male American Bulldogs, about 110lbs each, every time I walk them I can't help comparing their behavior to some of the users in online forums and, sadly, here on YF.

    everytime one lifts his leg to wet a palm tree trunk, the other one has to rush and use th very same spot.

    What is it called... A p-i-s-s-i-n-g contest?
  8. Kevin

    Kevin YF Moderator

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    Gentlemen... please.... I don't really want to spend my morning editing this thread to remove all the snide remarks and one-upmanship. :rolleyes:
  9. NYCAP123

    NYCAP123 Senior Member

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    After having left YF because of the tone it's taken of late I've come back after hearing that YF is attempting to get back to a more constructive tone. The good this site does is immeasurable, and it needs to attract boaters, not drive them away.
    Yes there will always be opinions and speculation stated. There'll also be some politics interjected as well as some social issues. But it's important that we try to avoid these things as much as possible. We also need to take out the challenging tone given some posts. You can have an opinion, and I can have a different opinion. We'll find out which is correct when the dust settles and opinion turns to fact. Until then how about we make a real effort to lose the sniping and arguments. Even when someone states something that's wrong we can still learn by it if the conversation takes the right direction.

    Most of you know me as a person with passionate beliefs and opinions, and not being one to back off when challenged. In fact my two most prevelent sayings these days are "Sounds like a personal problem" (which ticks my wife off to the max), and FU. I'm a cantankerous old goat, not inclined to put up with BS. lol. I'm going to give it my best effort. How about we all do?
  10. Capt J

    Capt J Senior Member

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    Let's say the repair is strictly the hardtop and nothing below the Flybridge deck. It would take every bit of 9 months to fix the boat if the yard started right now. BUT, now the insurance company is going to say the bridge is at fault, contact their insurer, then back and forth. NOW, the owner gets involved, he wants money for his time lost, expenses still going on, wants his boat fixed at a specific yard, perhaps he doesn't even want the boat back if it's fixed. This whole, who's at risk, who's paying, how much they're paying......takes time......lots of it.
  11. NEO56

    NEO56 Member

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    O.K. NYCAP123, I'm going to make a New Year's resolution. I agree with you, and to that end, I will "try" not to be such a smart a*s, and go around kicking a hornet's nest every time I see an opening. It won't be easy you know...it's a 57 year old habit of not being able to pass up a straight line! Unlike you and the other Senior members here, I feel like a 6th grader here sometimes, so what I can't contribute in terms of knowledge, I try to add a bit of humor (my version) to put a smile on some peoples faces. Although this can be a very tough room at times. I have learned a lot during my time here, and hope to learn so much more over the years as a member. So. Welcome back, and I wish you and yours, along with all the Members here at YF, including the incredible staff of YF and Jet Forums, a very Happy Christmas season, and to all of you, a Happy, Healthy, Prosperous New Year.
  12. NYCAP123

    NYCAP123 Senior Member

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    We have a lot of very pasionate personalities here, with very definite opinions about a lot of thing. We also have different ways of expressing ourselves, and can sometimes sound one way when we're trying to say another. So yeah, it takes real effort. But the rewards (a site that attracts people to it and the industry) are worth it. If we want to argue, there's always Craigslist and political blogs.
    Now of course there are also times when it's right to take someone to task. Just watch what happens when someone joins to promote their business.

    I think there's always room for humor, but as you said it's a tough room. :)

    Here's to a stress-free Holiday Season for all. (Heah, we can wish.:confused:)
  13. Kevin

    Kevin YF Moderator

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    I feel the warm fuzzies...

    If you all are too nice I'm going to be out of a job.
  14. Capt J

    Capt J Senior Member

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    Don't worry, it's only because it's the holiday season and we're giving you a break!!! It won't last! :eek:
  15. Kevin

    Kevin YF Moderator

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    :rolleyes:
  16. NEO56

    NEO56 Member

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    C'mon Kevin, You know how people are with New Year resolutions...they don't last long...your job security is fully intact! Enjoy it while you can. Oh and Happy Holidays to you and your Family.
  17. Riverdance

    Riverdance Member

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    Hello... Draw bridges, damaged yacht... Remember :)
  18. NEO56

    NEO56 Member

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    Hello...Beating a dead horse...blah, blah, blah, since you're on your 47th post...we do get off topic every once and awhile. Especially during the Holidays...Cheers!
  19. Riverdance

    Riverdance Member

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    Quality Grasshopper not quantity.
    Besides when YF reinvented itself my password became my username and all tricks in cyberspace could not get me signed in. So although I may be wearing L/Cpl rank now ...
    Oh yea... And I hate cranky bridge operators. Now I see why many bridges lock down when winds average 25 kts
  20. captainwjm

    captainwjm Senior member

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    Have the bridge restrictions been lifted yet?