Friday, July 18, 2008

Boat/US Press Release on Salvage

Well, those who have known me for a while know that I've bitched and moaned about the way salvage is portrayed in the press, and in particular I've singled out some Boat/US literature as guilty of too much hyperbole with phrases like "be warned", or "avoid salvage" and "avoid the high fees".

It was always my view that the Boat/US position could be boiled down to "salvage: BAD - towing: GOOD".

Yesterday's press release on this subject was a refreshing relief from past notices on the subject. [click here to read it all]

I think this piece is, as they say, "fair and balanced". Here is a quote:

Salvage cases are usually covered by insurance – or out-of-pocket if self-insured – and are much more expensive than a tow. Salvage continues to be the way to award a rescuer who maintains a 24-hour state of readiness to risk life, limb and vessel for others, and often results in a charge based on the length of the vessel saved or a request for a percentage of the boat's post-casualty value. While it’s a reward for extraordinary service, the dollar amount awarded factors in the degree of peril as well as the risk to the salvor and their crew. (emphasis mine)

That is the first time I've seen Boat/US express the concept that a salvor is rewarded for the service, rather than leaving the impression that a salvage is just a really high fee to be avoided.

The other thing I'm glad to see expressed is that it's the insurance company that will pay a salvage reward. Previous literature would always imply that the boater would be "hit with a huge bill", but of course nothing could be further from the truth. The truth is it's the insurance company that will be hit with a bill, and it's great to see that misconception finally corrected by one of the county's largest boat insurers, Boat/US.

Thanks Boat/US for presenting a well informed press release about towing verses salvage.