Insurance total 1995 Skeeter 200ZX. Offered 10,800 and they get everything except trailer. Boat had stump scratches and had fairly slow leak. Motor and Minkota Ulterra trowling motor are fine. Ask for a buy back price. 1) how do they come up with a number and 2) How to negotate for a lower price

I am a former insurance adjuster. We had salvage facility that gave us a certain percentage of the ACV (Actual cash value). Its been 15 yrs but it was around 20%?? If I remember correctly.
If they want you to make offer I would start at 10/15%. Many variables here-- Electronics, trolling motor, Access. If customer had an interest in retaining salvage I would work up offer for them less salvage value..
I believe the tax title fess were not added in when customer retained salvage. Its been a while hope this helps..

Thanks. The issue was the hull but all equipment was listed on policy. Is the buy back number were givin a final number. Also I did not think about have to title the boat and motor again.

I bought a totaled motorcycle back once and I think it was around 30% of what they were going to give me. So I got to keep the motorcycle and 70% of $9,500.00. The motorcycle was going to be turned into a race bike so a salvaged title wasn't an issue. Probably not an issue with a boat either until you sell it and disclose that the title is a rebuilt title so it won't bring the same money as a clean titled boat, obviously.

Totally assuming here but I would guess they have buyers at a certain % of the value and wouldn't sell it back to you for less than that. Ask them for the number and negotiate from there until they tell you no. If they let you walk then that's the number. I don't think all insurance companies offer a buy back.

Not sure where you boat is now but if it is at a salavage storage yard be certain all electronics, trolling motor, and motor are on the boat before you close the buy back deal. I had an aquaintance of mine that had a total on his fairly new Dodge truck that he had just put $1600 worth of tires on, less than a week before. He also had a winch with a rancher bumber, neither of which was damaged in the accident. He offered a buy back that was accepted but when he went to the salavage yard the tires, winch, and bumber were not on the truck. He was able to cancel the buy back deal.

They don't want the boat. Say no each offer. Settle for $1000.

I totaled a boat in 2016. Just the boat. Motor and trailer were fine. The boat never left my possession. I had to send pics and the estimate for repairs. Adjuster called and asked if I wanted to buy it back. I told him no. He said just to keep it since they didn’t want the hassle to get rid of it. I sold the whole works because the guy wanted the motor