Before contacting anyone else, call 911 or whatever emergency services/law enforcement you may need. Obtain all police or fire report numbers and contact information, and notify your insurance company of the loss. The next focus should be on documenting everything connected to the damage. Take photos and videos, collect witness information, and record the registration or documentation numbers of other involved vessels. Any information you collect will help build a strong claim. Contact us to schedule a free claim consultation in which we will take a preliminary look at the vessel and your insurance policy.

Salvage is incredibly complicated. If all you need to arrive safely back to port is a tow, then do not sign a salvage contract. Suppose your vessel or the environment is in immediate peril, preventable only by a salvor. In that case, you should do whatever is necessary to save the boat and protect the environment and private property.

Do not start any repairs! You may have damage extensive enough to total the vessel, and some insurance policies will not declare a constructive total loss if a repairer begins work. It would be best if you had a full assessment and estimate first.

An ACV policy sets the coverage limit at the Actual Cash Value, a calculated valuation rate that is somewhat subjective (see below). An agreed value states the value you and the insurance company agreed to at the contract's inception. This information is on your insurance policy's Declarations Page (DEC).

This tactic for paying claims is almost a certainty. Insurance companies often use calculations with lowball values in their ACV policies. It requires a reputable valuation study conducted by a marine professional to rebut these offers and win (see below).

A vessel valuation study is a USPAP-compliant valuation utilizing paid periodical services known in the marine industry and vessel sale reporting services only available to accredited marine surveyors. In addition to for-sale listings, we use these figures to calculate a highly accurate valuation study for your vessel. These are highly specialized and are known and commonly referred to in insurance, finance, and legal proceedings and are difficult to impossible to refute.

A total loss means that the boat is destroyed or is not recoverable. A constructive total loss means that the repair costs to restore your boat exceed the boat’s value or the full policy limit with the vessel’s salvage value amount subtracted (see below).

The salvage value of a vessel is the value it retains in damaged condition. For instance, a salvage company may offer $30,000 to purchase a vessel damaged by fire. The $30,000 would be considered the salvage value.

If the vessel's salvage value is $20,000 or more, then the vessel should be considered a CTL (constructive total loss). Depending on the adjuster or carrier, less than a $20,000 salvage value can be close enough for a CTL.

Most policies state that the insurance company has all rights to the insured property if a CTL is declared. However, in all of our experience, the insurance company will refuse their rights to the property, allowing the insured to keep it, or offer a right of first refusal once they obtain a salvage value and offer the vessel to the insured for this value. For instance (referring to the example above), if the owed policy total is $100,000 for a loss, and the insurance company obtains a salvage value of $30,000, they will offer the insured $70,000 with retention of the damaged vessel. There may be provisions that the insured can retain the boat without a buyback if it is underinsured, depending on the company or policy.

The biggest problem here is that no marine professionals have inspected your boat. Creating an estimate without physically seeing a boat first is a waste of time. Still, the unfortunate reality is that this practice is effective at getting people to accept a lower repair amount without fully determining the damage's extent or the relevant repairs' actual costs. Additionally, repair facilities are not surveyors who can adequately assess all systems and damaged components—such as a mechanic may not know how to identify damage to your hull or electrical systems, and vice versa. Technicians or repair facilities can also not advise you regarding your insurance policy.

The best way (or only way, in our opinion) to proceed is to have an expert surveyor comprehensively inspect the vessel for all loss-related damage BEFORE any repairs begin. We can only find the appropriate repair facilities and obtain the best coverage using this method.

A surveyor is considered an independent expert to assess the cause, nature, and extent (cost) of damages to your vessel. Your insurance company hires this surveyor to represent their interests and for their benefit. The insurance company may share or withhold the surveyor’s report based on what is best for them. While the assignment of a surveyor is, in our opinion, the best way for an insurance company to handle a claim (dependent on the surveyor), it is best to have your representative present for that surveyor’s inspections and be directly involved in their dealings with repair facilities.

Do not sign the waiver. Call us immediately.

You must file a supplemental claim. Please call us if you have any questions about filing a supplemental claim.

No. Most of the marine policies we have comprehensively reviewed (and we have reviewed many) exclude reimbursing the insured’s time if they conduct repairs themselves. You must not consider or put forward that you will perform the repairs or try to negotiate what you will charge the insurance company for this. A professional must estimate the repairs.

No. Most of the marine policies we have comprehensively reviewed (and we have reviewed many) all exclude loss in value. However, how repairers execute repair DOES affect the boat’s value, and that directly relates to how you/we handle the claim and repair process is dealt with. Having all repairs done to A.B.Y.C. standards is crucial, and the repairs must be inspected by an accredited surveyor once complete. We directly involve ourselves in this process for our clients to get the necessary components paid for and to protect their assets with the appropriate advice and guidance.

The rights afforded to us by the State of Florida are for the relationship between the insured and their contracted insurance company. While we can help in an expert capacity, only an attorney can pursue a 3rd party insurance company and represent you. We can, however, help you file a claim with your insurance company and recover what you are owed there, as well as push for rights and reimbursement if subrogation exists if afforded by the policy.

Most of the marine policies we have comprehensively reviewed (and we have reviewed many) all exclude damage related to bad repairs. However, the repair facility may have inadequately estimated or charged for the repairs. You may be owed the difference between a bad estimate and one from a reputable repairer. We suggest calling us immediately. See the FAQ on loss of value above.