The following information is intended for general guidance only in the event of a claim and is not intended as an exhaustive, final definition of coverage. Whether coverage is in force or not depends on the individual circumstances and facts surrounding each claim.
The policy of marine insurance that has been issued to you is known as an "all risks" form of marine insurance policy. This covers you for any loss and or damage to your vessel that is accidental, fortuitous in nature and is incidental to the use of your vessel, however, not all types of damage and or losses are covered. The policy excludes many types of damage and incident and you should take time to study these carefully and understand how each exclusion could affect your coverage.
The policy exclusions are set out within the insuring agreement wording under the heading "exclusions to coverage A, B, C, D, E and F" . The insuring agreement wording also contains general conditions and warranties that you should be familiar with, which if breached by you could affect coverage. You can obtain a copy of this form of policy from the policy wording section of this site.
If you believe that you may have a claim under your policy, above all else do not delay in the proper presentation of your claim.
Steps to be taken in the event of a loss:
Section 10 of the insuring agreement sets out what you should do in the event of loss of and or damage to your vessel (See "Your Duties in the event of a loss" ). Please follow these steps, as any failure by you to do so could delay the processing of your claim and in some cases prevent a recovery.
All that is expected of you is that you act reasonably to preserve your vessel and its equipment from further damage. Consider what steps you would take if you didn't have insurance.
Once you have told your agent, place a note in your diary and follow this up with your agent if no one has contacted you within 7 days. Do not delay in informing your agent.
Try to obtain at least two repair estimates for the damage to your vessel and send these to your agent as soon as they are available. If an adjuster has been appointed give them to the adjuster but please keep copies for your own records.
We may appoint an adjuster, who may arrange for the damage to your vessel to be surveyed and who will then send a report to us as to the extent of the damage. The appointment of an adjuster is at our discretion and not every incident will require this. You are at liberty to appoint your own representative, however the costs of such representation may be disallowed.
Not every incident will require an adjuster, therefore it is very important that you do not simply wait for one to call you.
You do not need our permission to begin repairs to your vessel all you have to do is allow us a reasonable opportunity to assess the damage to your vessel.
If you delay in telling us about the loss, or carry out repairs to the vessel without giving us the opportunity to look at them first, this may affect your coverage.
We appoint the adjuster and liability for their fees rests with us whether or not your claim is covered (except where you make a claim under the liability sections of the insuring agreement when the fees form part of your limit of cover.)
The adjuster will examine the damages to your vessel that you tell us occurred as a result of the incident in question. They will produce a written report and send that to us. Because we pay the adjuster, the report remains our property and while we may release it at our discretion, we are not obliged to. The adjuster may sometimes give you guidance and assistance on your claim. You can appoint your own adjuster/surveyor at any time to communicate with our adjuster and for agreement to be reached if at all possible but as we have noted elsewhere, the cost of such representation will not always be allowed.
Please feel free to email our claims department with any query that you might have. If you have e-mail facilities you can contact us in that manner. In many instances the adjusters themselves will have this facility.
Once the adjuster has reported to us we are usually in a position to provide a rapid decision on your claim.