Tim suffered greatly this year. In January a freak storm damaged his sailboat and in July Tims motorcycle was stolen from his vacation home. Tim originally paid $31,300 for the boat, but he was able to repair the damage for $12,500. Tim paid $23,900 for the motorcycle, but it was worth $24,600 before it was stolen. Insurance reimbursed $3,900 for the boat repairs and the cycle was uninsured