Boat Insurance Claims: What to Expect and How to File Them

Boat insurance is vital when mishaps occur on the water. However, chances are, you have never had to file a boat claim before. Here at Compass Insurance, providing boat insurance to residents in the greater Centennial, CO area, we want to help you understand what you should expect when filing a boat insurance claim for the first time.

Here are the steps to take after a boat accident.

  1. Safety First: In any boating incident, prioritize safety and contact emergency services if needed.

  2. Document the Incident: Collect information about the incident, take photos, gather witness statements and document injuries.

  3. Notify Your Insurer: Contact your boat insurance provider promptly with incident details, adhering to reporting timeframes.

  4. Work with an Adjuster: Your insurer will assign an adjuster to assess and estimate repair costs and provide them with documentation.

  5. Review Your Policy: Understand what your boat insurance policy covers to manage expectations.

  6. File a Police Report: For theft, vandalism, or accidents with others, file a police report and keep a copy.

  7. Keep Records: Maintain detailed records of communications with your insurer.

  8. Choose a Repair Shop: Select a reputable repair shop if your policy allows; get repair estimates.

  9. Review the Settlement: After assessment, review the settlement offer. If agreeable, your insurer will process the claim.

  10. Dispute Resolution: Engage in dispute resolution with your insurer if you disagree with the settlement.

Navigating boat insurance claims may seem complex, but being informed and prepared can ease the process. Safety is paramount, followed by prompt reporting. Boat insurance ensures peace of mind during your water adventures, providing protection when needed. If you’re looking for a new boat insurance policy in the greater Centennial, CO region, contact Compass Insurance to get started.