anyone experienced with insurance claims please

[needsomehelp]

Hi, relatives of ours have just had their yacht involved in a collision, which will result in a significant bill to be claimed from one or other insurance company- unqualified guesstimate as don’t really know full details £35K+.-thankfully no one injured

There was a experienced professional paid skipper in command of the vessel at the time who had never been involved in anyform of incident previously ( who was named on their insurance policy ) – the owners were not onboard or anywhere on the water at the time.
My relatives have a completely clean marine insurance history with no claims ever and are not only mortified their vessel has been involved in an accident and currently dealing damage to their vessel-
But worried sick if the claim is found against them what will happen to their previously low insurance premiums.. and therefore whether or not through no fault of their own they will be able to afford to run the vessel next insurance period-

Do any one have experience of the uplift in premiums after a significant claim?...or any other relevant information that might be of use.. please
Many thanks

 

[Scillypete]

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Do any one have experience of the uplift in premiums after a significant claim?...

[/ QUOTE ]

We had a recent claim for total loss, insurance paid out without problem. Since then have now bought another yacht and like your relly's was a bit concerned that the premium might be hiked because of our claim. It turned out to be an unfounded worry as the only difference being that we start again without the no-claim discount.
I would think that if it was not your relly's fault they should argue to keep their noclaim discount.

 

[jellyellie]

I'm with GJW and AFAIK they let you have two claims within a year before you lose your no-claims bonus.

 

[silver-fox]

Why don't they ring up the insurance company and ask? Better than worrying surely. /forums/images/graemlins/grin.gif

 

[ebbtide]

Re: E xperience with insurance claims

Your peepss could consider direct civil action through the courts, but why not let the insurers deal with that by processing a claim? It depends on how convincing the evidence is about responsibility - an admission of guilt would help! -but IMHO the NCB is unlikely to be affected unless it's the umpteenth claim in a row! Besides, it's only peanuts anyway.
Good luck.

 

[amadeus]

Hi I'm insured with Pantaenius. I had a claim two years ago for an incident when my boat got damaged in a grounding. Nobody else involved. The repairs came to £3500 and I was nervous about the following years premium but it was virtually unchanged. Lovely company to deal with would recommend them!

 

[Richard10002]

I'm also with Pantaenius and believe that I get one claim per year without the NCB being affected.

 

[wooslehunter]

Had a collision claim with N&G a couple of years ago, not in the £35k league though. N&G paid up with no problem & the premium has not gone up significantly.

If, you claim lots then quite rightly, the insurance company will view you as a higher risk & increase the premium. The cost of reasonable claims should be built in to the premium. Isn't this how insurance is supposed to work?

 

[needsomehelp]

thank you all- i've heard the prospective bill could be higher than originally thought, i know they are talking to the insurers currently - thanks again

 

[geoffcollins]

What on earth did you hit? A glass cargo ship carrying a hold full of faberge eggs?

 

[gardenshed]

Pantaenius: Quick and easy to deal with, even if defects are found relating to an earlier claim. They will appoint a surveyor to work for them and you should ensure that the surveyor gets all the pertinent details from e.g. the skipper and coastguard or others involved, to validate their version of events.
Impact of a claim on the premium is not a significant issue.