Anyone here able to provide professional valuations on RIBS?

rowancarver · 02 February 2016, 21:22

Hi, our insurance company have advised us to get a professional valuation on our Atlantic 21 RIB, as it is unlikely we will get what she is worth (being a 1989 build) if a total loss.

http://www.rib.net/forum/f8/atlantic...ild-66342.html

We had the RIB totally rebuilt this time last year by Henshaws, and we would like to get an agreed valuation policy on her.

Can anyone here recommend someone who could provide such a service?

Thank you

Rowan

Poly · 02 February 2016, 22:13

Duncan (known as Searider here) is the usual person people get pointed to for survey work. Not exactly local to you though.

Daniel · 03 February 2016, 07:11

He will travel, and did an insurance valuation for us once.

Contact here: http://www.saundersmorganharris.com/co/18586

Dry Run · 03 February 2016, 07:30

It seems an awful lot of work to go through (and I'm guessing expense) just to get an insurance policy. Are you getting some sort of "commercial policy" or is this for private use?

As a broker, we have given lots of valuations (for free) for our clients at the Dry Stack, when their insurers have asked and that seems to have been quite sufficient.

Of course, if they are asking for a "survey" that would be a different thing.

Regards

Steve

Pikey Dave · 03 February 2016, 07:42

Afaik, if it's for an agreed value policy ( I have one) then as long as you're happy to pay the premium, the value can be whatever you like within reason. Obviously if you start insuring for hundreds of thousands, eyebrows will be raised, but if you wanted to put the top end of a reasonable amount, you pays your money & takes your choice. I have always insured my boats for the full new replacement costs, the insurance company is aware of this & I pay a suitable premium. I have had a substantial claim in the past & it was paid out eventually. I had problems with the claims management company, but that was down to them being lazy & sloppy. The insurers have now dropped the claims managers & handle things differently. I use Mercia Marine.

rowancarver · 03 February 2016, 10:34

Thanks for your replies chaps.

The reason for the independent valuation is on the advice of our broker, just belts and braces really so in the case of a total loss we have a leg to stand on in getting a sensible pay out. After all it is a RIB approaching 30 years old, which in many peoples eyes has little value, whereas she is actually like a new RIB, with a fairly significant replacement value.

Daibheid · 03 February 2016, 10:38

You should be able to arrive at an agreed value on it yourself by providing copies of invoices from Henshaws etc. If your broker or insurer won't accept that you probably wouldn't want to have to deal with them in the event of a claim anyway. You're paying for the value at risk anyway so not in your interest to inflate it. <ahem>

Searider · 03 February 2016, 12:37

Hi,

I assume the boat is back in Greece?

I'd love to come out for a bit of winter sun but fear that we'd need to charge a lot due to the time to get there!

Perhaps someone like Kevan Whittle in Levkas would be able to assist?
His contact details are on the YDSA website: Find a YDSA surveyor
The Williams and Smithells office there would be able to assist in recommending a surveyor also.

Duncan

rowancarver · 03 February 2016, 12:58

Quote:

Originally Posted by Searider

Hi,

I assume the boat is back in Greece?

I'd love to come out for a bit of winter sun but fear that we'd need to charge a lot due to the time to get there!

Perhaps someone like Kevan Whittle in Levkas would be able to assist?
His contact details are on the YDSA website: Find a YDSA surveyor
The Williams and Smithells office there would be able to assist in recommending a surveyor also.

Duncan

Hi Duncan, yes she is in Lefkas, Greece now. We know Kevan and will see he can assist, we also know Steve at W&S and see if he can give us a market valuation from his perspective. The problem is the lack of Atlantic 21's on the market - and the complete lack of refurbished ones!

Thank you!

Rowan

Searider · 03 February 2016, 16:24

Looks like I've talked myself out of a job again!

Poly · 03 February 2016, 18:01

Quote:

Originally Posted by Searider

Hi,

I assume the boat is back in Greece?

I'd love to come out for a bit of winter sun but fear that we'd need to charge a lot due to the time to get there!

Perhaps someone like Kevan Whittle in Levkas would be able to assist?
His contact details are on the YDSA website: Find a YDSA surveyor
The Williams and Smithells office there would be able to assist in recommending a surveyor also.

Duncan

Woops, and I thought Ross on Wye might be too far away! I assume the broker is in Greece too?

gtflash · 03 February 2016, 19:31

I have just arranged an agreed value policy. The broker has agreed when she is finished I can prove value from receipts or a professional such as the tubers written value. Yet to do it though

tris1331 · 19 June 2022, 11:01

Quote:

Originally Posted by Poly

Duncan (known as Searider here) is the usual person people get pointed to for survey work. Not exactly local to you though.

Hi Poly,

I'm having a similar problem with my recently rebuilt SR4. IS Duncan still around or do you know if anyone else that can help? I'm on the south coast near Lymington.

Tris

GuyC · 19 June 2022, 11:41

I use GJW for my 1991 Pacific 22 and there were happy that I paid a premium that reflected the value of the vessel.

tris1331 · 19 June 2022, 12:08

Thanks GuyC. I'll add them to my list.

I have receipts for the rebuild and engine to fallback on if all else fails but I would rather get it all agreed upfront to avoid any hassle later.

Lemonbonbon · 20 June 2022, 08:30

This thread is from 2016

Poly · 20 June 2022, 08:33

Quote:

Originally Posted by tris1331

Hi Poly,

I'm having a similar problem with my recently rebuilt SR4. IS Duncan still around or do you know if anyone else that can help? I'm on the south coast near Lymington.

Tris

Tris, you can try sending him a private message - I've seen him pop up in the last couple of years at least. He is somewhere on the south coast although I don't recall exactly where. To be honest though, unless your SR4 is something very special I'm not sure its going to cost more for a survey than the insurance.

tris1331 · 26 June 2022, 12:48

It effectively brand new - total rebuild - so it has to be worth something, hopefully what I paid to have it rebuilt and fit a new engine to it.

tris1331 · 26 June 2022, 12:49

...forgot to say, I'll try sending him a private message.

tris1331 · 28 June 2022, 15:54

Thanks for the tip GuyC. GJW were spot on. Agreed value and paid an acceptable premium just as you said