I was involved in a boating accident in WA state.
Couple weeks ago I hit my friend's boat with mine. Stupid mistake but slightly cracked his hull and bent a railing, just moderate cosmetic damage. We both thought it was no more than $1,000 in damage so I planned to give him cash.
He just received an estimate for $5,100, which sounds outrageous but either way sounds like it's going to be more than we thought.
His boat is pretty old and even with the motor and trailer, it's probably not worth more than $3,000.
What am I legally required to give him if we settle this without insurance, obviously I'm not handing over 5gs to fix a hull worth $1,500.
If we turn it over to my insurance what would they be required to give him?