In case you get into a boating accident or suffer a personal loss while on your boat, it is important that you are familiar with your boat insurance policy coverage. By being familiar with your policy coverage, you will make the experience hassle-free and as painless as possible. Here are a few things that you should know in case a loss occurs.
Know What's Protected and What's Not Protected
If property that was covered by your insurance policy suffers damage or a covered loss, then filing a claim with the insurance company is recommended. You will likely be partially or fully compensated for the damages sustained, but this will be based on the terms and conditions of your boat insurance policy. If you are unsure what is covered and for how much, check your policy paperwork or give the underwriting department of the insurance company a phone call. If you find that your policy doesn't cover as much as you thought it did, it may be time to get a new policy. While this may not save you from the costs of the current damage, it will protect you in the future. Contact an insurance provider like Veronica's Auto Insurance to get a quote on a new policy.
Inform Your Insurance Company of the Incident
Once the loss or damage occurs, contact the insurance company at your very earliest convenience. You can either submit your report online or over the phone. You will need to let them know what happened, how it happened, specific details of the incident, if there were any injuries, the extent of the damages, and any other related information to the loss/damage. You should also provide them with the names and contact information of injured individuals and witnesses. A police report should be filed if your insured property was vandalized or stolen.
In order to strengthen your insurance claim, you should provide as much proof as possible of the damaged property. If you have them, submit photos as soon as possible. Photos can be an important part of the claim. All documentation that you submit will be added to your report so it can be reviewed—and ultimately resolved—as quickly as possible.
Cooperate with the Insurance Company
To ensure your claim goes as smoothly and quickly as possible, you will need to cooperate with whoever may get in touch with you, such as insurance adjusters and legal personnel. Keep in mind that damaged property will need to be inspected and appraised by your legal adjuster before it can be repaired.
Receive Compensation for Damages
Once you have gone through everything, you will finally receive the compensation for the damages that your property sustained. Your claim will be processed, the final report will be approved, and your payment will be processed. Depending on your boat insurance company, you can pick up the check from your adjuster or it will be mailed to you.