Yacht insurance doesn’t seem to be very important for many yacht buyers, however it’s one of the most significant aspects they should pay attention to when realizing their purchase. The next not less important thing for yacht owners is to know what they should do in the case of accidents, or in other words, how to deal with the yacht insurance system in the event of an accident. Yacht accident can cause property damage, total yacht loss, injury or death of person(s). You should be aware of some general steps you have to follow after the accident. These steps may differ depending on the variety of the accidents in any particular situation.
First steps after the accident.
First of all you must never admit your being at fault or your liability for the accident. You mustn't discuss the situation with the other party engaged or give any promises.
You must inform local authorities.
Report the accident to your yacht insurance company.
Allow your insurance company to estimate the damage.
Boat Insurance Claims.
Now let's take a closer look at the process of making your claim. You can make your claim anytime after the accident, the earlier the better.
When filling a claim you should have your policy information, incomes and stocktaking lists, and photos.
It would be expedient if you take pictures after the accident as soon as possible. It's important to get as much information as possible. Then you should approximately estimate the costs you will need to have your yacht repaired and write them down. After that you should call a claims agent from your yacht insurance company to make your claim. He (she) will help you to fill in the claims form. The agent will also collect information needed for your claim by taking pictures, asking questions to the witnesses and any other parties engaged in the accident.
If your claim is accepted by your yacht insurance company, you'll get your cheque from them. You may wait for your cheque from several weeks to a few months. The insurance company will most likely determine the amount of your cheque by the minimal repair costs needed for your yacht.
You can also claim a yacht insurance cheque to cover medical expenses if someone has been injured by the accident on your yacht. Yacht insurance sistem will also remain active if you file a claim during the off season.