Hull & Machinery
In most of the cases policies issued by OnlyYacht are All Risk based. This means that all damages will be covered except the following:
- Damages Caused by Wear and Tear
- Damages caused by failure to perform the Maintenance
- Corrosion related damages
- Damages caused by Lack of Due Diligence or Gross Negligence
However please refer to your policy wording for specific coverages.
The below Recommendations are valid in case of any Claim.
If any damage is discovered or reported following actions to be taken (where applicable):
- Take all necessary steps to avoid or minimize further loss of or damage to the item.
- Where any Third party(s) may be liable for the damage – send letter of protest/liability holding such party(s) liable for all damages.
- Collect all possible evidence to support possible claim. Such evidence can be – witness statements, photos, log books, etc.
- Please, notify Class (if applicable) if Item damaged is under Class supervision.
As soon as practically possible, please inform OnlyYacht about such loss using following contacts:
email@example.com or firstname.lastname@example.org
+377 97 97 23 13 / + 33 6 40 614 601
Please include following details:
- Date and Place of Loss
- Description of the damage
- Circumstances of the damage
- Estimated cost of damaged item(s) (if possible)
- Contact person at the place of the damage and possible place for inspection
- Alleged Cause of the damage (if known)
Whenever possible – please accompany declaration by the following documents:
- Any damage statements
- Circumstances of the damage
- Any witness statements
- Letters of Liability Sent to Third Parties (if any)
In case of absence of response within 2-3 hours, please call +33 640 614 601, to make sure your notification was received).
LOSS MINIMIZATION / QUOTATIONS
If more than one repair/replacement option is possible – all options must be investigated, even if one of the options is preferable. The reasons for such choice, if the option chosen is not the most economical must be presented.
Despite most of the policies issued by OnlyYacht are All Risk policies, we recommend to analyze the loss and issue a review on the cause of the damage. This is particularly important for machinery damages or where cause of the loss is not evident, and ideally such cause investigation should be validated by the manufacturer of the equipment.
In case of the theft of vessel or personal belongings the following steps need to be taken:
- Declare theft to local police / authorities and make a written statement to them
- Inform OnlyYacht about the loss accompanied by following documentation:
- Police Report
- Any available proof of ownership (sales receipt, warranty documentation, pictures)
- Pictures of damaged doors/windows/locks if theft took place onboart
- Value of goods.
As your broker OnlyYacht are here to help and to advice, so don’t hesitate to contact us in case of any doubt or any question.