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Inside this Article
Boat Insurance Policies and claims
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Policies
and claims are dealt with in-house, by our knowledgeable staff, giving
unequalled levels of service.
Quotations and cover can be provided
on-line, any time of day or night, for most classes of dinghy,
sailboard, RIB, speedboat, narrow boat, rowing boat and jet ski.
Power boats. Sail boats. Yachts. Personal
Watercraft.
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Like you, we’re passionate about the water. So
you’ll get expert service from people who understand marine
insurance Whether you are water skiing,
fishing, or soaking in the sun on your boat we know that boating
is a way of life. Time on you boat with family and friends creates
lasting memories. our focus is to make sure you have the proper insurance
coverage so you can enjoy the time on your boat creating
memories without worrying about what would happen if you had a
loss.
we dedicated solely to providing the best boat insurance
available. Our expertise is recognized throughout the boating
industry.
Many agents try to merely find you the
cheapest price. we go one step further. We try to find you the best
coverage at the cheapest price. It is important that you know what is
inside your boat insurance policy when you are looking to protect
your investment. You should know the answers to the following questions:
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Is
your policy agreed value?
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How
is depreciation calculated?
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Are
your liability coverage needs met?
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Is
the navigational territory correct for where you will be using your
boat?
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Are
there any date restrictions?
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Are
there requirements regarding the lay-up of your boat?
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Who
can operate the vessel?
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Is
there towing/medical/pollution coverage?
All
of these are important questions that will dramatically impact how a
potential loss is covered….or not covered.
Boat
Insurance - Specialist
Policies
Various types of specialist policy exist, including:
New building risks:
This covers the risk of damage to the hull whilst
it is under construction.
Boat Insurance:
There are many types of boat insurance policies
available, often split by size of craft (Navigators & General
spilt small craft up to 23'LOA and Yacht & Motorboat over that)
Cover will be based on the size, value, age, location, useage,
fuel/speed and location of the craft with no claims discount being
available up to certain value limits. Material damage for the craft
and liability protection are normally included as standard. Cover
can be arranged via insurance brokers or direct with the insurer
with policies and extensions being tailored to suit specific
requirements.
War risks:
Usual Hull insurance does not cover the
risks of a vessel sailing into a war zone. A typical example is the
risk to a tanker sailing in the Persian Gulf during the Gulf War.
War risks cover protects, at an additional premium, against the
danger of loss in a war zone. The war risks areas are established by
the London-based Joint War Committee, which has recently moved to
include the Malacca Straits as a war risks area due to piracy.
Increased Value (IV):
Increased Value cover protects the ship owner
against any difference between the insured value of the vessel and
the market value of the vessel.
Overdue insurance:
This is a form of insurance now largely
obsolete due to advances in communications. It was an early form of
reinsurance and was bought by an insurer when a ship was late at
arriving at her destination port and there was a risk that she might
have been lost (but, equally, might simply have been delayed). The
overdue insurance of the Titanic was famously underwritten on the
doorstep of Lloyd's.
Cargo insurance:
Cargo insurance is underwritten on the Institute
Cargo Clauses, with coverage on an A, B, or C
basis, A having the widest cover and C the most
restricted. Valuable cargo is known as specie.
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