I keep hoping there's some error but there's not much hope there.
He and his family put a ton of effort into the boat. It really was a basketcase to start. And he had to round up parts and systems that the boat didn't even have. I was amazed how he(they) stuck to it and brought it to the finish. He just launched not long ago.
No matter what it was insured for, it isn't enough when you've put so much of yourself into it.