What to do in the event of damage/ loss
The following information will help you and us to process a loss as fast as possible - so that your yacht is quickly back out on the water or your charter trip comes to a good end!
- You have the duty to minimise the loss as much as possible. Please act in the same manner as you would if you were not insured.
Tell us as quickly as possible - e.g. by telephone, fax or e-mail about the cause, nature and extent (cost estimate) of the damage / loss and for collision damage please state the name and contact details of the other party. Please tell us how we can contact you to inform you of the appropiate rules of action. Important for charter crews: any claim has to be reported to us immediately by telephone or in written form. Please note that claims reported to us with first notice later than 30 days following the end of charter will not be handled.
- Please return to us (carefully filled in) the Damage claim hull or the Damage claim third party or, in case of a charter claim the following documents Skipper's Liability, Travel Cancellation, Charter Deposit. Please also hand in photos of the damage when possible. Please detail all important facts even where these are not specifically asked about (inebriation, revocation of sailing license - suspicions - high or unjustified claims).
- Please return to us the Notification of loss - water sports carefully filled in - along with nautical charts and logbook extracts.
- You are obliged to give information completely and truthfully. Imtentionelly untrue or uncomplete information on a claim might result in rejecting the claim even if there is no disadvantage to the insurer.
- Where damage / loss is caused by fire, explosion, theft or malicious damage, file a criminal complaint immediately with the police.
- In the General Terms and Conditions of Insurance in your agreement, further instructions are to be found under "Duties of the Policy Holder in the case of a loss event / insured event".
- If the insurer appoints an adjuster to assess the damage, you will take part at the inspection and you should use this opportunity to consult with the repair workshop / boatyard and / or the appraiser to demarcate the amount of the damage / loss and to achieve agreement in all respects.
- If you are unable to agree with the decision of the adjuster, you have the option of an out-of-court clarification with the Adjuster Procedure. You nominate a second adjuster of your choice. Both adjusters will then appoint an arbitrator, who will examine the case and make a decision.
- Special information for water damage: a) For salvage during distress at sea do not negotiate fixed costs with the salvage company. The usual international method is the open contract "no cure - no pay". Let your insurer conduct the remaining negotiations. Please do not make any statements with respect to the value of your yacht. Hand out only our telephone number and your policy number to the salvage company (not the policy itself or a copy of it). In German waters the NGOs DGrZS or the DLRG have a fair treatment with towing assistance or salvages. Also, fisherboats might help you for a small amount to come free from a sandbank. Private salvage companies are often very expensive for their invoices are not taken out by the actual costs of salvage but by the value of the boat. Therefore please make sure to talk about towing assistence instead of salvage. b) Damage sustained while in the custody of a third party (shipping contractor, winter quarter company or similar) or through a third party (collision) is to be documented jointly with that party (cause, course of events, scope and value of the damage). Collision damage and strandings must, moreover, be reported at the next port to the harbour police or harbour master by producing the logbook extract. If a third party is reliable for the damage please make them liable by written notice.
- In case of death following an accident a notice to us by telephone has to be made in the course of 48 hours, even if a notice of accident to another party has taken place.
- In case of third liability claims do not accept any liability before a decision of the insurer has taken place. Do not negotiate with the claimant without the consent of the insurer, this might result in losing insurance cover.