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Boat Insurance Sales Auctions:Below is a free resource to finding boat insurance sales both locally and abroad. Insurance sales in general are difficult to find. But a reputable resource that you can work with will save you thousands compared to retail.
Boat insurance sales are typically held at auctions sites. Insurance companies almost never undertake their own sales campaigns to liquidate salvage inventory. Not only do they not have the knowledge but they lack the capacity and expertise in terms of handling, storage, and marketing boats.
Most often insurance companies will seek out a local boat dealer, brokerage or liquidation company to 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 SitesAuctionsPass offers a complete database of online and offline auction sources. Find local, state, and national held auctions offering damaged or salvaged boat insurance sales.ISRAuctions has locations in Missouri and Minnesota specializing in auto, boat, cycle, and RV insurance recovery and sales. AMS Sale offers over 100 years of experience in marine casulties. AMS assists Insurance Companies with the recovery, salvage and disposal of yachts and other vessels. Good buys come and go quickly! 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 SourceAlong 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.My most favorite quick and reputable source to locating a vast array of assets including salvaged vessels and marine equipment can be found at AuctionsPass.com. Area wide auctions as well as boat insurance sales auctions are listed state by state as well as on a regional level. They've just recently made an even better offering. I've used their database to locate and particpate in about any type of auction imaginable. A one time members fee gives you life time access to recurring auctions both online and off. I've tried other sites but Auctions Pass is know for keeping their listings fresh and updated.
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