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The Claims Process - What to Expect
Take a read of the below information that might be of use to you if you have a claim to process. We will take you through each step from start to finish so you will not need to worry, you will be in safe hands.
Speedy & Reasonable Claim Solutions
We are a Lloyds approved Marine Underwriting Agency with one of the largest Marine Syndicate in London. We can offer you the most suitable cover available at very competitive prices. Not only that but we offer an excellent claims handling service to help you feel safe and secure when choosing Yachtsman as your marine insurance providers.
Take a look at our Claims FAQ page for some quick answers about simple questions you might have.
Call Us Today if you want to talk about your claim - FREEFONE 1800 30 4000
Mitigate your loss. Take all reasonable steps to prevent further loss/ damage from occurring. This is a condition of your policy. Obtain written quotations for repairs from the repairer you propose to carry out the work. This should be a reputable marine repairer, capable of doing the job. We require these to proceed.
Only loss or damage caused by the specific incident for which you are claiming can be covered by your contract of insurance. It is essential that you do not.
- Do Not:
Commence repairs without the written consent of your insurers. If you do not have the agreement of insurers, you risk prejudicing your claim.
Falsify any information concerning the cause of the incident or extent of damage caused in the incident, overestimate your claim or try to include in your claim any items that were not lost or damaged in the incident for which you are claiming
Do understand that attempting to mislead your insurers over any small part of your claim can result in a complete loss of all entitlements under the policy.
Delay unnecessarily in reporting the loss to Yachtsman Euromarine.
- Please Note
You may also be required to provide proof of ownership and such other documentation (i.e. registration papers, survey papers etc.) to establish the bona fides of your claim.
The amount approved for the repairs (if applicable) will form the basis of settlement subject to the terms and conditions of your policy. Neither, Yachtsman, underwriters, nor surveyor/ assessors appointed by them will instruct repairers directly. If the repairs proposed are in order, then the instruction to proceed, based on a quantified amount, will go to you. It is then up to you to instruct the repairers of your choice as you see fit.
You can at any time appoint your own loss assessor/ surveyor to handle your claim, but the cost of this will be at your own expense.
If you have suffered a loss that you wish to make a claim for under your policy, you will need to notify Yachtsman Euromarine immediately. You can do this via email to firstname.lastname@example.org or by contacting us on our telephone number.
The Claims Dept will then issue you with a claims form. It is also available here: Marine Claim Form.pdf
Please fill out the claim form clearly, answering all questions as this will avoid delays later.
Regarding estimates, it is important to note that there are a number of requirements they must fulfil in order to be considered. They must be official written quotations, on letter headed paper, itemised into materials and labour, containing VAT details (if applicable) and from a professional marine repairer capable of undertaking the work.
If your vessel or engine is considered as being beyond economic repair, where the value of repairing it would likely exceed the cost of replacement then the advices of your boat yard or repairer advising this is usually required. If possible, the cost of the like for like replacement should also be submitted.
In most cases a claims handler with Yachtsman Euromarine will appointed to the file, they will contact you at the earliest opportunity. They will look to verify the cause, nature and extent of the damage and the most effective method of repair.
On certain claims, attendance may be necessary. Should this be the case we will contact you with a view to attending the vessel and arrange to visit at a time convenient for you. We recommend that you attend, as your presence at first inspection can prevent misunderstanding later on. We do, however realise that this is not always possible and there is no obligation on you to attend. Following this the claims handler will submit their advices in the form of a report within 5 days of the attendance.
Clarifying the Loss
In certain claims a marine surveyor may be appointed, either by insurers or by Yachtsman Euromarine acting on behalf of insurers.
You will be advised of their appointment and they will they be in contact, attend if necessary and report on the loss.
At all times, we aim to keep you informed and aware of what is happening with your claim. Following submission of the report we will contact you regarding its progress. However , if you have any queries or wish to speak urgently about your claim, please direct them to the Claims Dept in office and we can advise the current position.
In the majority of cases, we can deal with your claim directly, applying the terms and conditions of your policy to the circumstances and details of the loss - but we can only settle claims that are covered under the policy.
In all other instances, where we cannot settle directly, we will refer to your insurers for their decision and communicate that decision to you in writing.
Authorisation of Repairs
The most common scenario following further investigation is that we approve a repair cost. It is not the quotation itself that is approved but the amount on it forms the basis of settlement.
You can instruct any competent repairer you wish to carry out the work but your settlement will be based on the specified amount in the repairs letter.
Neither, Yachtsman, underwriters, nor surveyor/ assessors appointed by them will instruct repairers directly. Your policy concerns your financial loss. The repairs are a matter between you and the company you have instructed.
Application of your policy excess, the amount you have to pay on each claim, will be detailed here.
Once repairs are completed to your satisfaction, please forward your final invoice to us and we can proceed with settlement.
Settlement of your Claim
Once repairs have been completed or a specified amount in settlement agreed upon, then we will issue you with a discharge to sign and return. This is simply a document to say you accept the agreed amount in settlement.
Following its submission we will make a payment to you within a maximum 10 working days. In most instances, this will be much sooner.
Help us to Help you!
We welcome and encourage feedback that will help us meet your expectations.
Failure to Reach an Agreement
It is not insurers wish to apply fault or reduce your claim without good cause to do so. They simply apply the policy to the claim. We always encourage an open and transparent exchange of views.
If you are unsatisfied with the handling of the claim or believe that the policy was incorrectly applied, then you can make a complaint. Any complaint relating to the handling of your insurance/claim should in the first instance be forwarded to: The General Manager, Yachtsman Euromarine, College Road, Clane, Co. Kildare. and following this if necessary bring the matter to the attention of the Financial Ombudsman. We can assist you in this. Please refer to your policy booklet for details.