Where to Find Boat Insurance Sales in 2016

insurance sale

Below are several reputable resources towards finding boat insurance salvage vessels both locally and abroad for this year. We've included only a few resources below that often liquidate insurance "total loss" vessels.

Boat insurance sales are typically held at auctions sites. Insurance companies almost never undertake their own sales campaigns to liquidate salvage inventory. It's just not what they do. They don't have the capacity and expertise in terms of handling, storage, and the re-marketing.

Most often insurance companies will seek out a local boat dealer, brokerage or liquidation company to let them do what they do best. Insurance companies simply don't have the capacity to store, advertise and sell boats claimed as "total loss". They don't know how to facilitate sales auctions as well.

Brokers and liquidators however, will typically handle insurance sales through a sealed bid system. Typically the greater the popularity of the broker and/or the vessel up for auction the stronger the turn out and the higher the bids. As with most final sales auctions the buyer accepts all boat insurance sales on an "as is" basis.

Recommended Boat Insurance Sale Auction Sites

BoatAuctionsDirect.com is a site that aggregates a database of online and offline auction sources specific to the marine industry as well as atv's, rv's, cycles, and most other related power sport assets. I use it to find local, state, and national held auctions offering damaged or boat insurance sales.

ISRAuctions has locations in Missouri and Minnesota specializing in auto, boat, cycle, and RV insurance recovery and sales.

YachtSalvage.com is one of the more popular insurance sales sites. Located in Warwick, RI the company offers a large selection of distressed boat sales via. insurance companies and individual owners. Bid by completing an online bid form.

As an alternative to competing at sales auctions think about contacting insurance companies directly (those that insure boats) to put them on alert of how you can help. Ask them to notify you just prior to or upon receiving a total loss or salvaged vessel. I'd recommend contacting 5-10 companies thereby increasing your odds.

The make sense reason that insurance companies would respond favorably is that unlike a dealer or liquidation company you're able to potentially solve their problem right away by taking the boat off their hands quicker and far cheaper than they would otherwise. If they have to tow the vessel over to a dealer or some other company they waste just that much more time and money.

The key to capitalizing on boat insurance sales is to get to the insurance companies before they get to the dealers or liquidation companies.

I've contacted insurance companies and most are receptive to taking your name and number. Don't expect to be contacted any time soon if you talk to one company. You've got to get your name out there to as many as possible.

Reputable Boat Insurance Sales Source

Along with buying from a reputable sales outfit, using a marine surveyor prior to bidding is of utmost importance. The extra expense will more than pay for itself by keeping you grounded prior to bidding as well as more informed when it comes to repairs.

Share this page:
Find this helpful? Please pay it forward. Here's how...

Would you prefer to share this page with others by linking to it?

  1. Click on the HTML link code below.
  2. Copy and paste it, adding a note of your own, into your blog, a Web page, forums, a blog comment, your Facebook account, or anywhere that someone would find this page valuable.