boat builders insurance
Submitted by petermac on Wed, 2017-03-01 20:02
i have been thinging about getting a boat built , do boat builders need insurance , just saying if the builder goes belly up while your boat is being built (and it happens ) do they have to have insurance you can claim against so you havent done your money ? eg house building insurance
sea-kem
Posts: 15041
Date Joined: 30/11/09
Secured creditors take
Secured creditors take precendence bar the liquidator. You would need to take out a policy( if you can) for whatever you have paid. I'm not sure how that would work though.
Love the West!
Darren253
Posts: 570
Date Joined: 23/07/16
Pay the deposit on credit
Pay the deposit on credit card if you can. Even if you have to pay a 1.5% premium to the builder to cover fees ($75 on $5000) I think it's cheap insurance. I did that when we had a camper trailer built for exactly that reason.
A 20% deposit should be enough to confirm your commitment to a build. I would be questioning any business that needed more than that as a high risk.
petermac
Posts: 2946
Date Joined: 03/03/10
good advise
i had forgotten about how ansett went guts up and i had flights booked and paid with them but got my money back because i paid with a C/C
Vinesh87
Posts: 2751
Date Joined: 02/04/11
I am sure Willie won't go
I am sure Willie won't go under haha!
petermac
Posts: 2946
Date Joined: 03/03/10
willy wont go under
willy wont go under , but it is a worry , there is a second hand bullet boat (one of willys) for sale at rocky yamaha and boats very very tempted to buy it but have never had a boat built , for me with what i want so i am looking around , i was looking at razorline but had a bad expierience with them 20 years ago that has left a bad taste in my mouth , going for a drive next week to have a look at some westerburgs never had 1 but they have a quality name
Ashen
Posts: 1042
Date Joined: 22/03/13
Hopefully we'll see some
Hopefully we'll see some fishing reports soon...hopefully...
A fish in the hand is worth 10 in the water!
dodgy
Posts: 4585
Date Joined: 01/02/10
I was sure trailcraft,
I was sure trailcraft, fisher, gs marine, origin and omc weren't going to go under too.
Does anyone know where the love of god goes, when the waves turn the minutes to hours?
Vinesh87
Posts: 2751
Date Joined: 02/04/11
Yeh i really didn't see
Yeh i really didn't see Origin going !! I was going to build with them too. Another reason to buy local at least you can go and check the progress!
Luke
Posts: 167
Date Joined: 02/11/09
With moda you pay as you go
With moda you pay as you go and you own whats been built at any stage. You sign a contract at the start of the build.