S3#44. INSURANCE DISASTER! The "REAL" Truth behind our Leopard 50 fire payout....

No video

S3#44. INSURANCE DISASTER! The "REAL" Truth behind our Leopard 50 fire payout....

Рет қаралды 10,468

Күн бұрын

Join our Patreon : www.patreon.com/BarefootDoctorsSailing - from $3/episode
Join us as we share the overview of the insurance payout process after the Leopard 50 catamaran fire and the struggle we had to cope with for over two years as we struggled to get paid....
We share our insurance company, the broker and intermediary broker that provided the insurance policy.....
Our Patreon option starts from only $3 per week, and will allow our supporters to enjoy live updates, join us for sailing events in Aegean Greece, May 2024. Then in Dubai Jan 2025 (aboard the new Portofino 52) join us for the launching party and test sails!!! We are also offering boat build tours with sailing off Dubai to share the progress of the P52 build and provide whatever sailing or life discussions that YOU want us to provide during all of these events..... It is a very exciting prospect and we have been requested repeatedly to give advice, take folk sailing, teach sailing techniques etc etc.... So here it is!!!
Any Patreons will have the choice to join us for these events which are usually about 5 days to be up close and personal with Eli and John and learn from their expertise... There will be sailing trips, excursions and chats during the events and the subjects will be designed to suit the participants that will be there. Patreons will receive all the sailing and talks with the Barefoot Doctors without any cost but will only have to cover their own travel, food and accomodation costs.
All Patreon proceeds go to Exqisit Life Foundation to support TUFMINDS Mental Resilience and Suicide Prevention Program worldwide.
Some come Barefoot with us on this exciting journey - now physically and in person with Patreon if you wish!!!
Binge watch and come barefoot with us as we travel and explore the planet, mostly from the water but sometimes through the minds of others as we provide aid and support where needed through the amazing TUFMINDS solutions!
WHAT IS TUFMINDS
The free TUFMINDS program is released as a smartphone program under the Exqisit Life Foundation Charity, a registered not for profit and requires financial support to fund the free program. TUFMINDS saves lives by intervening at the point of suicide and pulling everyone to higher levels of mental resilience, wellbeing and functioning. it also creates better attitudes, relationships, resilience and coping - all very important for sailors facing difficult situations at sea.
@Barefoot Doctors Sailing
DONATIONS to the charity to support Suicide Prevention with the free TUFMINDS program can be made at:
shoutforgood.c...
For more info:
www.TUFMINDS.com
www.barefootdoctorssailing.com.au
TUFMINDS app - in App Store

Пікірлер: 118

@terrykeever9422 7 ай бұрын

Thanks for sharing what you've learned thru your ordeal. Much of this is new to me. My insurance dealings have been auto and small home owners claims. I imagine a large percentage of boat owners never understand the ins and outs of their insurance until they have a claim. Then it's often a bit late. So glad you finally got your settlement. Wishing y'all a very Merry Christmas and a Happy and Safe New Year.

@barefootdoctorssailing8567 7 ай бұрын

Thanks for you comment and yes, you are so right, Terry!

@papa.mike01 7 ай бұрын

You too are an awesome couple. I enjoy and find value in your channel. I can’t wait to see your new cat complete and on the water. Merry Christmas.

@barefootdoctorssailing8567 7 ай бұрын

Thank you so much, again Prof!

@marktaylor484 7 ай бұрын

Great to here you finally have some resolution and your upcoming video about the vagaries of Marine Law will be a salient lesson for many.

@barefootdoctorssailing8567 7 ай бұрын

Thanks Mark and yes, I hope it will be very valuable...

@ianfirth-clark5975 7 ай бұрын

Thanks for sharing the process as best you could, it certainly is a bit of a wake up call for marine insurance. It's quite understandable that some owners of older vessels don't bother to insure their vessels just basic third party. Have a great Christmas where ever you are x

@barefootdoctorssailing8567 7 ай бұрын

Thanks Ian for your comments and regular support for our channel!

@WillN2Go1 7 ай бұрын

These videos are so helpful. These are the things every boat own should know. So thank you. I noticed in another friends' video they mentioned using acetone, so I reminded them what I'd knew but had forgotten, until you pointed out in your previous video that these solvents are heavier than air, settle in the bilge and are highly flammable. They thanked me, so I pass that on to you. Wish you and everyone watching, warm, happy holidays, and safety.

@barefootdoctorssailing8567 7 ай бұрын

Glad it was helpful, Will and thanks for your great support on Patreon!

@keithb2338 7 ай бұрын

I am so relieved and happy for you both! I also wish to thank you for the advice you offered regarding boxing a traumatic event. So helpful! 🙏 Enjoy the next few days and looking forward to your next videos! ❤❤

@barefootdoctorssailing8567 7 ай бұрын

Thanks very much for your support Keith and glad you liked the box technique.

@charleykanieski7242 7 ай бұрын

I am sooo glad I recommended Jess to you. He did for you the same as he did for me.

@barefootdoctorssailing8567 7 ай бұрын

Yes thanks Charley! We will be doing the next episode with Jess about what everyone needs to know do he will get lots of publicity and work out of it, we are sure!!! Also he will be able to help more people…

@heaven-is-real 7 ай бұрын

All the best.

@barefootdoctorssailing8567 7 ай бұрын

Thanks very much!

@geniexmay562 7 ай бұрын

Thank You for sharing your experiences with us. We benefit from it. Have a very Happy Christmas.

@barefootdoctorssailing8567 7 ай бұрын

Glad it's helped Genie!

@glynmatthews2156 7 ай бұрын

I am so pleased that you managed to reach an agreement. Insurance companies are renowned for trying every trick not to pay out in full and I think you did well to agree on a sum. Hopefully with this tragedy behind you, you can look forward to your new adventure with your Portofino 52. Well done, a real weight off of your minds.

@barefootdoctorssailing8567 7 ай бұрын

Well, Glyn it was not the insurance company that paid our the claim - in fact they paid less than half of the insured value but Just Catamarans agreed to make up the full value to fix us up... But whoever paid, we are happy that it is over!

@bobf4765 7 ай бұрын

Thanks for the update! You may not have made good, but you didn't do bad. You are content with the outcome? Then on to bigger & better things! Fair winds....

@barefootdoctorssailing8567 7 ай бұрын

Hi Bob, yes, considering the prospect of what we were facing during the negotiations, we are content with the level of payout and are happy to be out of the legal head battles.

@waltervanderboor 7 ай бұрын

As an insurance and investment professional who's has been sailing and living aboard for decades, I have dealt with hundreds of boat insurance policies over the last 25 years. We still offer global yacht insurance and so often we notice that clients only look for price, not for quality. Or the opposite, they presume that more expensive is better. that approach just does not work. At first it may seem so...That is until they have a damage, which is a bit late. Never underestimate the real costs of an event. Whether its lightning, sinking, fire or a small looking collision with another yacht. Another important factor is how fast an insurance can pay out, as much of the stress is coming form that simple delay. And to be honest 2 years, is way to long in my book. but anywhere from 6 weeks to 12 months should be expected.

@barefootdoctorssailing8567 7 ай бұрын

Hi Walter, thanks for the detailed comments. We would love to get more information about options for Bluewater cruising to cover the Caribbean and Pacific and the Maldives for a Portofino 52. My email address is DrJohnmcintosh@tpg.com.au. So hopefully you can let us know what other options we have because when we took out this insurance, we were not given any second choice from the broker. Glad to hear there is hope and quality insurance for the future, looking forward to hearing from you

@mariusventer853 7 ай бұрын

Excellent I am so happy for both of you!

@barefootdoctorssailing8567 7 ай бұрын

Thanks for the support, Marius!

@boatman909 7 ай бұрын

Wishing you both a wonderful and blessed Christmas and a much more prosperous New Year.

@barefootdoctorssailing8567 7 ай бұрын

Very kind of you, Boatman! Thanks!

@chasepuzon6893 7 ай бұрын

I’m very happy for you. There is no way I would’ve been calm through that experience. None of it was your fault, but they wanted to take everything from you. I’m very happy that you felt smart.

@barefootdoctorssailing8567 7 ай бұрын

Thanks Chase for your kind words and we did not stay calm al the time but we certainly worked to let it all go when it tarted to build up... We are human too!

@boatman909 7 ай бұрын

❤ so glad its been resolved, and you got most of your funds reimbursed 😊

@barefootdoctorssailing8567 7 ай бұрын

Yes, so are we. Thanks!

@GypzyJack 7 ай бұрын

Congratulations for getting this matter finally resolved. I must say that when I learnt that there were contractors involved who might have been directly responsible for the fire I feared the worst, subject of course to their respective insurance cover and how that may have impacted clauses in your own insurance policy. Sure, you have to wear your own legal costs and personal effects losses, the latter likely not documented nor forming part of the original policy documentation--my assumption--but at least you have the bulk of the loss reimbursed. Good on yers! On with the 'lifestyle show'. Best wishes for Christmas and the New Year. Cheers

@barefootdoctorssailing8567 7 ай бұрын

Thanks Jack! You’re right on your thoughts…

@krisnace 7 ай бұрын

I can't imagine the stress in the nightmare that you have had to endure as a couple for the past 2 years. I don't have a boat but I really appreciate both of you speaking about this to the boating community as well about their insurance policies. Hopefully because of what you have had to deal with it could possibly help others from having to go through the nightmare that you both went through. Who would ever think that you would have to have an attorney look over an insurance policy prior to signing on the dotted line. It just goes to show You just can't trust anyone these days and all these little hidden clauses that they have and all the reading you have to go through most of us would just be like I will be fine and sign it, I know I would have. So as unfortunate and horrible as this has been for you, I hope you find some comfort in the fact of knowing that you are helping a boatload of people out there. Also the technique of putting your problems in a box and forgetting about them today I'm going through a pretty difficult dark day and this really helped me. You are a beautiful couple and I pray that God will bless you both with many happy healthy and prosperous days and years to come. God bless Merry Christmas and Happy New Year stay safe out there and enjoy life God bless

@barefootdoctorssailing8567 7 ай бұрын

Thanks Kris, glad our box technique has helped you and we do really want to make sure that we help the knowledge base of cruisers out there to reduce the risk of this happening to others...

@erbrock1 7 ай бұрын

Another helpful video. Thank you. It was great to hear that Just Catamarans stepped up and helped out. Kudos to them. We've filed away the name of your lawyer - thank you for that. Look forward to your next video and then hopefully you can put this all behind you. Best wishes to you both.

@barefootdoctorssailing8567 7 ай бұрын

Glad it was helpful, Brock!

@niknigro 7 ай бұрын

You guys are an inspiration - stronger than you imagine - Nik from New Zealand

@barefootdoctorssailing8567 7 ай бұрын

Hi Nik! That's very kind of you to say and we are happy if we can help folk in different ways....

@KirkThomson 7 ай бұрын

Some very solid advice here. Thank you for sharing you hard earned wisdom.

@barefootdoctorssailing8567 7 ай бұрын

Thanks for your comment again Kirk and we will be giving a lot more info about insurance in future episodes...

@limericcntelosnet 7 ай бұрын

Having been through a similar situation I can really appreciate your long road of frustration. I admired your fortitude and grace in dealing with all this.

@barefootdoctorssailing8567 7 ай бұрын

Thanks Crystal and sorry you have been through it as well… Thanks so much for Pareons support too!

@clivestainlesssteelwomble7665 7 ай бұрын

About time ... 🎉...Merry Christmas both 🧙‍♂️🇬🇧🎅🏼 the insurance industry is becoming almost impossible in many places to the point where its becoming totally risk averse to new technologies or the realities of common activities.

@barefootdoctorssailing8567 7 ай бұрын

Yes, they want to provide insurance but don;'t want to pay for anything, Clive...

@clivestainlesssteelwomble7665 7 ай бұрын

@@barefootdoctorssailing8567 Its also a game of passing the parcel when it's different companies and jurisdictions... Just like politics.. lord help us they all have to behave like adults and play by the same rules with genuine ethical standards... 🙄 The car world seems to be going through the silly season at the moment over repairs to electric vehicles in particular but modern vehicles in general. So insurance costs are now quadrupling what they were a couple of years ago with no real changes in risk. just the dealers and repairers see 🤑 and the insurers also want to keep their cut... The paranoia over a tiny minority of Li ion battery problems and costs sits on one side and the tendency to cram more and more stuff into cars and inflate the prices is also working against allowing people to actually switch from massively more dangerous and polluting traditional ICE vehicles and alternative safer and cheaper battery chemistries.

@MK-gr9qz 7 ай бұрын

Thanks a lot, look forward to the next one❤️🏅❤️

@barefootdoctorssailing8567 7 ай бұрын

You're welcome 😊MK - glad you're liking them!

@russellotto2791 7 ай бұрын

Merry Christmas.

@barefootdoctorssailing8567 7 ай бұрын

Thanks Russell!

@jlb9074 7 ай бұрын

You two are so remarkably gracious. And I appreciate that you want to put all this behind you. I really struggle with suggesting that Just Cats was a stand up company when they burned down your boat and still allowed this to drag on for years. A stand up company would have handled this years ago by making you whole and then dealing with their own insurance company to get compensation (if it’s even merited) for their negligence. I hope they appreciate how kind the two of you are. I’m not sure that I would have exercised the same level of restraint and compromise. This was 110% their fault. I know I’ll never use them.

@barefootdoctorssailing8567 7 ай бұрын

I understand the logic of your thoughts but we could not claim anything from JC until we knew what we would get from our insurance. We had to try and get a payout from them and then go to JC to make up our losses.

@AllanStyles88 Ай бұрын

This is what the insurance do, string you along long enough so you are happy with a lesser offer. I don’t know anyone that been made fully good.

@barefootdoctorssailing8567 Ай бұрын

Yes, depressing stuff but certainly the regulations in the USA are much more favourable to be being "made good". The Leopard 45 owners were certainly made remarkably good under US law....

@greatpix 7 ай бұрын

I'm sure these videos of your experience will help others when they are looking for insurance and if they ever have to file a claim.

@barefootdoctorssailing8567 7 ай бұрын

Thanks for the comment and yes, we hope so too! The good info about what to do will be in the next episode, we hope!

@johnrynbout9080 7 ай бұрын

As a new boat owner, I have watched your journey through this carefully. Thankyou so much for showing it all, it helps me to learn and hopefully I will never have to go through this , but at least I am better prepared now if I do.

@barefootdoctorssailing8567 7 ай бұрын

Our pleasure, John ! Glad it is helpful and we will share lots more guidance for things to watch out for and to protect yourselves...

@patrickloring6914 7 ай бұрын

Much Love!

@barefootdoctorssailing8567 7 ай бұрын

Thanks Patrick!

@juergenzenner4219 7 ай бұрын

Sometimes is less…. MORE…. Congratulations and everyone can go ahead! Reasonable deal. Start of a new chapter. Thanks for charging all of this.i wish you both peaceful Merry Christmas

@barefootdoctorssailing8567 7 ай бұрын

Yes! Thank you Juergen! Happy to be letting the baggage of the past go...

@gbsailing9436 7 ай бұрын

Congratulations! That's fantastic news!!! Whoo Hoo! I'm so happy for the two of you! I hope you are both enjoying your holidays in Australia now in QLD. I wish you both a MERRY CHRISTMAS and a Happy New Year. I also hope that 2024 bring you all the happiness and good tidings that you deserve. Now let me watch the episode...🤣 P.S. Who are Just Cats? Were they the group carrying out some work on the boat at the time? I think you said the two different workers cause the fire through no direct action, but through contributive action, right? Till next week... Fair 💨's and following 🌊's!

@barefootdoctorssailing8567 7 ай бұрын

Hi Garth, Merry Christmas to you too. Just Catamarans are a large fit out company in Fort Lauderdale and both workers were from them... They did not argue their responsibility of the fire so there was no fight there.

@gbsailing9436 7 ай бұрын

Excellent news! It's great they owned up to that. All the best for '24.@@barefootdoctorssailing8567

@walterhiegel3020 7 ай бұрын

Congratulations on your settlement. Cheers! I am not sure if you could have done any better. Settlement is the best scenario because if not it could have been held up in the courts for many more years and time is money. It may seem unfair but if you see it from the insurance company's point of view...they paid out for clean up (satisfying EPA and other regulatory agencies), injuries, lawyers fees and then they had to pay for the boat. Did I miss anything? How could they know the personal belongings that were on the boat unless they were properly documented (photographs which would be filed with the insurance company and their underwriters). Additionally boat insurance for blue water sailboats typically ends up being international is scope which introduces more complexity and regulation.

@barefootdoctorssailing8567 7 ай бұрын

Thanks for your understanding, Walter! And we think that is correct.

@markbernier8434 7 ай бұрын

I'm looking forward to the next episode. You haven't said, but I would be very interested to know if any government departments were involved?

@barefootdoctorssailing8567 7 ай бұрын

Hi Mark, the only govt dept that were involved was at the start with the Sheriffs and the Coastguard. Once the debris was sorted, there was no more govt input...

@markbernier8434 7 ай бұрын

Consider yourselves very very lucky.@@barefootdoctorssailing8567

@barefootdoctorssailing8567 7 ай бұрын

Thanks for the reminder!

@johnkosowski3321 7 ай бұрын

You mention that Just Cats stood behind the whole thing. Why did you have to have any problems or stress at all? The loss happened in their care with their agents, so why didn't their insurance just take care of everything immediately?

@barefootdoctorssailing8567 7 ай бұрын

HI John and thanks for the question! We asked the same question repeatedly but they just did not respond to us and never communicated directly with us or our lawyers for about 4 months (to my knowledge).... They certainly never gave any legal explanation for their lack of money in the offer of payout which gave us serious concerns about their background (Russian CEO), solvency and competence. Many Caribbean insurers just close down when they get a big claim....They did not even answer us when we called by phone after the fire!

@ahminmabed5166 7 ай бұрын

See you next week

@barefootdoctorssailing8567 7 ай бұрын

Look forward to it, Ahmin!

@SaltyDraws 7 ай бұрын

The way insurance is run is such a scam.

@barefootdoctorssailing8567 7 ай бұрын

We agree, Woody!!!!

@johnmajewski1065 7 ай бұрын

Good to know you guys received your claim pay out. Your advice to contract a Maine lawyer though adds to the cost it’s double protection as you rightly advise. Thanks for sharing your stressful lessons! SV SKOIERN IV

@barefootdoctorssailing8567 7 ай бұрын

Thanks for your support and glad it's useful, John!

@BRADH-xw8sw 7 ай бұрын

We do need hard specifics not just contract verbage. Who tried to stiff you and why ?

@barefootdoctorssailing8567 7 ай бұрын

Hi Brad, the next episode will share more about the lessons we learnt and as you are so insightful, we are sure you can work the answers to your questions for yourself! Having just spent 2 years in court, we have no desire to go back there and we found the processes are not fair or reasonable and VERY expensive. So we are remaining diplomatic but sharing the really important stuff cruisers will need to be aware so they do not have the same trouble...

@fountainvalley100 7 ай бұрын

A few comments. I’ve worked with some large companies and they won’t take on a contract unless they have access to United States courts. Second is having a lawyer well versed in marine insurance is invaluable. Finally you get what you pay for. Don’t skimp on insurance. Finally your disaster was caused by lack of oversight via job hazards analysis. This is not uncommon in industrial situations.

@barefootdoctorssailing8567 7 ай бұрын

Thanks for the comments, Fountain Valley! Getting marine insurance is difficult enough but getting it for the Caribbean is even harder and they will not usually change their court of service - as they want to be in the area best for themselves, obviously! We were not offered any other policies from Bluewater but have learnt our lesson and will go elsewhere next time. I have heard the price is close to double but we will wait and see...

@jeffsallus8406 7 ай бұрын

Great video always great to learn something

@barefootdoctorssailing8567 7 ай бұрын

Great to hear Jeff!

@jeffsallus8406 7 ай бұрын

@@barefootdoctorssailing8567 I’m planning on buying a catamaran in the next few years looking at a lagoon 62 this is great information to have my son an attorney look at the policy before signing

@barefootdoctorssailing8567 7 ай бұрын

Also check out the next episode where we hope to share a lot of the unwritten implications of policies and some guidance about what clauses should be added to your policy to clarify some issues... Have fun with your new cat!!!

@Lucky_Red_Fish 7 ай бұрын

Your story does not make sense, if Just Catamarans was responsible for the incident, then Just Catamarans insurance should have made you whole, your insurance should have paid you out if you were claiming on the insurance as Just Catamarans were insured. Then your insurance would have recovered their losses from Just Catamarans or the Just Catamarans insurance.

@barefootdoctorssailing8567 7 ай бұрын

The law requires our insurance to payout first and then we claim against others. Also our insurance can’t claim against anyone until they have paid us out so we could not do anything until our insurance paid out…

@davidolson7575 7 ай бұрын

I am so so sorry that you guys were not made whole. It’s one of those things are just not right. The one thing I have to say is that it appears that Just Catamarans actually A standup company. Please take care and be safe, really looking forward to your new boat. Merry Christmas and a happy new year

@barefootdoctorssailing8567 7 ай бұрын

Thanks for your support David and the trouble that we had was with the insurance company paying us only a fraction of the hull value.

@sealsix6 7 ай бұрын

Was it ever made clear why the actual insurance company did not want to pay the full claim? Like what was their actual issue with the claim? And why did just cats feel they had to step up? What was their card at the table with this whole story?

@barefootdoctorssailing8567 7 ай бұрын

Thanks for the interest Seal. The insurance company did not explain why they interpreted the policy the way they did but they offset the salvage and other expenses for the towing and salvage against the hull value, claiming that is how they read it. Quite unusual as we have never heard of that before... WRT Just Cats, they were in the discussions from the beginning but we had to be paid out by our insurers first and then get the rest of the costs from JC but nothing could happen till we knew what we would get from the insurer. When our insurer was fixed at their amount, JC stepped in and paid the rest to end the legal battle that was costing us all money...

@williambunting803 7 ай бұрын

I wonder if I shared a consequence from your disaster. Mid this year my insurance company in Scotland cancelled my insurance with 4 paid up months left to go and after 5 no claim years. They claimed policy changes that meant they could not insure non British Citizens before then trying that they could not insure people living on their boats, but your 2 boat disaster may have put the frighteners into the underwriters. I’m now happily insured with Pantaenius.

@barefootdoctorssailing8567 7 ай бұрын

Hi William, glad yo are now insured and we are with Pantaenius in the Med but they don;t cover the Caribbean or USA...

@222INFINITY 7 ай бұрын

Thought the delay was caused by the insurance company believing you had left your boat moored in a vulnerable location. Looked to have very easy access by anyone who wanted to board, but since there was no vandalism, that was taken off the table. 2+ years waiting for a claim to be settled when there was zero fault on your part is absolutely ridiculous. You should have your lawyer run this by the marine association, trust me top marine insurers will not be impressed with how your claim was settled, bottom line, it makes the entire industry look bad. All the delays were caused by your insurer and you should be made whole + at least 50%. So yes, the insurance company owes you at least another $750K.

@barefootdoctorssailing8567 7 ай бұрын

Thanks Infinity - we would accept that with pleasure! However to put it in perspective, our offer was only 1/3 of our hull value so for some time, there was a significant risk that that was the only amount we would get from from them... We were locked in this legal battle for two years and the insurance company was wanting to use UK law and not US law to interpret their policy. It also seems that in the UK, they do not have "bad faith" and strict time limits on claims and several other different interpretations that we will discuss in the nest episode with the lawyers.

@Coleen_West 7 ай бұрын

So glad this is oer for you -- QUESTION -- Can I be so bold as to ask, if not too upsetting, how much more would be needed to make you whole ie how much did you loose in the the end? Also, did you actually have coverage that would have paid, theoretically, for all your losses for contents and cameras and travel etc.? Finally, would love to know what your lawyer charged for all that work over the two years - if you can't say can you ball park it? More than 20k or more than 50k etc?

@barefootdoctorssailing8567 7 ай бұрын

Hi Coleen, thanks for the questions - our losses of all our personal goods were around $200K although if we went to court we would have been claiming everything else (travel, accommodation, lost flights, hardship etc) which was around $500K more... Legals $150K (Us lawyers in Florida, NY, Seattle and UK lawyers, mediation and actually successfully sueing the underwriter to Arbitrate in NY). If our underwriter paid out as they should have and given us our hull value, Just Cats would have made us whole. If the error was ours (or JC was not liable) all we would have been paid out from the underwriters would have been around $420 instead of the hull value of $1.15M! Needless to say, we will not be using them again....

@Coleen_West 7 ай бұрын

@@barefootdoctorssailing8567 ..nightmare! Two issues 1) did you have enough insurance coverage to cover all your stated loses or was it capped at 1 million?, and 2) if you used an insurance broker, you may have a claim against him (really against his E&O insurance) for negligence in not drawing your attention to these issues and for recommending that company - this type of lawsuit has been increasingly successful. You could still file a claim as you were out bg money. It would not be precluded by your prior settlement unless the broker was party to it (very unlikely).

@barefootdoctorssailing8567 6 ай бұрын

HI Colleen, the boat (H+M) was insured at $1.2M and about $30K for personal and dinghy / engine. So we were looking for a payout around that number and have the extras and exclusions covered by Just Cats (Computers, jewellery, cameras etc). But Selecta only paid out less than 1/2 of the value of the brand new boat. Yes we were given the option of trying to sue the broker but we had had enough and just wanted to walk away with a reasonable payout and live our lives to the full without that dragging us back into the dirt...

@trentspencer7991 7 ай бұрын

"Funny how you become a bit of an expert when you go through a tragedy" 🤣🤣🤯🤦‍♂

@barefootdoctorssailing8567 7 ай бұрын

Ironic really!

@trentspencer7991 7 ай бұрын

@@barefootdoctorssailing8567 Not many people will understand this and will just think I'm mean for laughing. 😅

@trentspencer7991 7 ай бұрын

Congrats again, I have to ask though, if JCs presumably supplied the tradesman and were responsible for your boat/or not? Why isn't it reasonably expected that they have full insurance to cover the total destruction of what they are working on? I mean the guys here working on my boat apparently have very expensive insurance in case something like this were to happen, it is one of the biggest single expenses they have. If I am misreading it maybe other people are? Well if Just Cats came to the table for you, maybe those solar frames are going to be getting a little more expensive in future.😉

@barefootdoctorssailing8567 7 ай бұрын

Hi Trent, yes JC and their insurance would be ultimately responsible but we had the trouble getting a payout from our insurance and in our view they did not honour their insurance to us. That meant that we were locked in the legal battle with our insurance before we could go elsewhere. If our insurance paid out like the L45 guys, we could have been made whole too, I believe...

@trentspencer7991 7 ай бұрын

@@barefootdoctorssailing8567 Maybe post who the Leopard 45 was insured by in the next video as they seemed to do the right thing so maybe they deserve a shout out? Just an idea but I don't have enough details to comment. :)

@barefootdoctorssailing8567 7 ай бұрын

@@trentspencer7991 They we’re insured through a US company who are under much tighter legal requirements for early settlement, bad faith and appropriate payout processes… I can go back and find their name though…

@gulfstream-tvstudios9546 7 ай бұрын

....insured at lloyds in london , high risk , full coverage of everything , incl. loss of engines we lost one day , crossing the gulfstream, both engines while sucking in jelly fish...overheating and 2 totals on detroit diesel engines , with 800 hours each...150tsd us dollars damages ... no money from lloyds, london underwriters, with the excuses: lack of maintanace

@barefootdoctorssailing8567 7 ай бұрын

So sorry for your experience and that is something that we will cover in the next episode. We also heard of a case where a lightning strike claim was not paid cause the fire extinguishers were not serviced, despite there being no fire or need to use the extinguishers. They just use those clauses to avoid paying gate claims!!!

@ross82 7 ай бұрын

Your box solution is the age old “dig a hole and bury it”

@barefootdoctorssailing8567 7 ай бұрын

Hi Ross, similar except with the box you have more control to open it and close it multiple times as you need or bury/ burn / throw it into the ocean forever… Most problems need some management at some time so this is a nice easy concept, we have found…