TowBoat US Cape Coral, Towing Service Florida, Cape Coral Towing Services

Towboat US, Cape Coral Towing Services, Cape Coral Towboats

Salvage

Salvage, historically and legally, is any voluntary and successful rescue of a boat, its cargo and/or it’s passengers from peril at sea. TowBoatUS, On-The-Water Towing plans do not cover the member for salvage or pollution clean up costs. Many boat insurance policies do, however, cover these costs. Check with your insurance agent to determine if these costs are covered by your policy. If your boat insurance policy is underwritten by BoatUS and you need salvage services, TowBoatUS Cape Coral will work directly with BoatUS Marine Insurance underwriters and send all invoices related to the salvage of your boat directly to them for payment. If, however, you are insured by another insurance underwriter, you may have to pay for the salvage costs upfront and seek reimbursement from your boat insurance company.

Salvage operations are billed on the basis of the length of the boat to be salvaged, the complexity of the salvage operation, the kinds of equipment needed and the number of personnel involved. Salvage fees range from a simple price per foot multiplied by the length of the vessel being salvaged to a percentage of the full insured value of the vessel. Pollution clean up is billed on the basis of the time, materials, and personnel required.

The accompanying box below illustrates the range of possible charges.

Salvage:	Fees range from $25 per foot of vessel length to a percentage of the insured value of the vessel depending on the equipment needed and complexity of the salvage. Additional hourly charges for any vessel(s) involved in the salvage may also apply.
Oil spill/fuel pollution clean up:	Billed on the basis of personnel time, cleanup equipment, and materials used, and disposal charges for contaminated materials. Personnel charges are $75 - $150 per hour per person. Materials costs are dependent on materials required.

As you can see, salvage costs can mount quickly. Your best protection against incurring a huge salvage bill is to carry adequate insurance on your boat. To further protect your investment, it is a good idea to perform regular and routine maintenance to ensure trouble-free boating. Boaters should make sure their insurance policy provides for the full value of their boat, not a percentage of its value, and that there is no deductible for salvage costs. The BoatUS Marine Insurance program offers this level of service.

5828 Cape Harbor Drive #207 • Cape Coral, FL 33914 • PH: (239) 945-1664 • FAX: (239) 945-2046
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