Watercraft Insurance Claims

Boating is a popular sporting hobby in the US, with over 87 million people using a boat for recreational activities such as sailing, fishing, water skiing, cruising, or traveling, according to the Statista Research Department. Boating is not limited to the rich and the famous, and many affluent Americans consider it a pleasurable hobby.

As a rule, “boats” are considered to be 26 feet and smaller, and “yachts” are 27 feet and larger. However, there are various types of boats available like sailboats, utility boats, cruisers, bass boats, personal watercraft (PWC), etc. According to the National Marine Manufacturers Association, 95% of owners have boats that are less than 26 feet and cost an average of $18,000. Further, there are annual maintenance, storage, and usage costs.

Buying a boat is one of the most thrilling purchases you’ll ever make. You’ll spend a lot of time browsing- finding the right boat type and brand to suit your lifestyle is important, whether you want speed or something simpler. Apart from all the convenience, status, and recreational opportunities, owning a boat comes with a lot of responsibility. Most of it would be financial – repairs, storage costs, fuel, and most importantly, protection by purchasing suitable insurance for your vessel.

We recommend that you keep your boat insurance separate from your homeowner’s policy. Marine related risks, like pollution damage, wreck removal, etc are often not covered by many homeowners’ insurance policies. However, some insurance companies do have homeowner policies that include coverage for smaller boats. Some insurers offer coverage of physical damage to your boat by covered perils like storms, lightning, collision, fire, theft etc. This type of coverage contains coverage for the boat, including its machinery and components, and personal property.

Marine insurance can be challenging and this is where a public adjuster plays a vital role. Your public adjuster will help you understand if damage to your vessel was due to wear and tear, denting, manufacturers’ defects,  etc. and are these included in the insurance policy. They will also check if your policy covers permanent fixtures and stuff like anchors, and life jackets, etc.

Besides, protecting your boat with the right kind of insurance requires looking at the entire gamut of services involved. As licensed public adjusters we act as your representatives to ensure that your personal effects, legal costs, wreck removal, and pollution cleaning, medical payments for passengers to name a few, are included. We advocate and negotiate for you throughout the claims settlement process, thus saving your time and easing your anxiety.

It’s always useful to know your rights but having an effective public adjuster to defend you is a bonus. Trust in our expertise, call us at Experienced Public Adjusters today for a free consultation of your insurance claim.