Outboard theft in the USA?

Bigtalljv · 31 March 2014, 19:37

Hi,

I was curious how common outboard theft is in the USA? It doesn't seem to be as prevalent as the UK. I'm not sure if I'm just not hearing about it or if the black market is different here? I don't think we have an equivalent to Eastern Europe to sell them in. Just thinking about the boat and the bits I can't afford to replace. not sure if I should get or can afford that kind of insurance on my boat.

Thanks,
Jason

4str · 31 March 2014, 19:44

It surprised me when it happened, I thought it more likely that the whole boat and trailer would be stolen. I'm pretty sure I was cased before it happened during a previous break in. When they stole the engine that is all they went after and evidence indicated that they had used a large truck when they stole it. Since it was a 150 Yamaha I suspect they had a truck mounted crane as well.

And the thing that really didn't make sense to me was that it was a 13 year old engine. Not like that won't be seriously discounted when fenced. To me the risk/benefit doesn't make sense in that line of work.

The insurance was weird too. The engine was honestly worth about $3,000 to $4,000 The insurance company insisted that the boat (now minus the motor) should be totaled, although there had been no real damage to the boat. However I could "buy back" the boat if I wanted. In the end I got about 75% of the cost of a new engine and replacement controls. Steering, throttle and electrical were destroyed when they were cut to remove the engine. I would have been happy if they had cut a check for $3,000. Oh, and my insurance was canceled by taking the settlement, which was understandable since I had only purchased it 2 months before!

I live in Washington State.

Tim&Linda · 31 March 2014, 19:45

Have you heard of liverpool

captnjack · 31 March 2014, 20:11

I hear about little ones getting stolen all the time (6hp etc). They are light and easy to sell used on craigslist etc.

When my 25hp was stolen from my driveway I was rather surprised. I claimed it on my homeowners insurance which helped.

I now have a 60hp and added dedicated declared value (non-depreciating) insurance to my annual costs. It has a locking bolt on the transom but I have occasionally heard of transoms being sawed (hard for them to do in my garage).

Even if you are in a state which titles outboards, like Wisconsin I think, I would make sure the whole boat is insured. Wherever there's something of value there's someone willing to try to steal it.

Deekus · 31 March 2014, 20:17

Quote:

Originally Posted by Tim&Linda

Have you heard of liverpool

BOOOOOO

Out of order

ncp · 31 March 2014, 20:48

Quote:

Originally Posted by captnjack

added dedicated declared value (non-depreciating) insurance to my annual costs.

My policy, non-depreciating, is for about what I have into my Willard in hard costs. I believe that they're called yacht policies.

Bigtalljv · 31 March 2014, 20:53

Quote:

Originally Posted by ncp

My policy, non-depreciating, is for about what I have into my Willard in hard costs. I believe that they're called yacht policies.

Through BoatUS, I just submitted the app. My problem is I'm not into it for as much as it would cost to replace it. Not sure if they will do that.

jyasaki · 31 March 2014, 22:51

Need to talk to the BoatUS insurance rep, and come up on a "agreed upon hull value". If they think the value is set too high, you pay up front (in rates), at least to the point where they no longer play ball.

As far as outboard theft, I think (with bigger motors, anyway) it's more prevalent in the southeast US. Heard lots of stories of boats being stolen, and recovered with consoles and transoms chainsawed.

jky

Steve Zodiac · 31 March 2014, 22:51

Quote:

Originally Posted by Tim&Linda

Have you heard of liverpool

What can you tell us about one of the finest cities in the UK!

Bigtalljv · 31 March 2014, 23:14

Liverpool - that's the Oakland of the UK? sorry jky ;-)

captnjack · 31 March 2014, 23:29

Quote:

Originally Posted by Bigtalljv

Through BoatUS, I just submitted the app. My problem is I'm not into it for as much as it would cost to replace it. Not sure if they will do that.

You mean your own labor costs? Or just finding another hull in comparable condition?

Just put down what you think the value is (what you paid is mostly irrelevant), they will give you a price based on that value. If its just way out of wack with their perceptions of the value you might need to get it surveyed to demonstrate that your value is legit and not an effort to defraud the insurance (e.g. if it were to conveniently go missing next month).

Knowing insurance's propensity to nickel and dime customers at claim time, I padded my value a few thousand (~10%) over what I paid as a cushion and nobody has ever questioned it. I also haven't had a claim FWIW.

You might need to find a broker if you are having a hard time finding a company willing to insure you.

telcowilliam · 01 April 2014, 01:04

Quote:

Originally Posted by Tim&Linda

Have you heard of liverpool

Obviously never been there?

Peter_C · 01 April 2014, 04:38

Most of the people who have thefts that I know, were of their high end stereo systems. None of my friends have had their outboards stolen, but I don't know that many people with outboards. Our theft rate is far less than Europe that is for sure!