Large Vessel Insurance Claims Experts

We are helping Solitude and other U.S. Virgin Island condominium associations, business owners, and property managers with Hurricane, Wind, Roof, and Mold damage insurance claims.

Please contact us immediately for a Free Claims Evaluation for large vessel. Call 800-654-3041 or fill out the form.

When owners of mega yachts in Florida work with public insurance adjusters like Global Patriot Adjusters, who specialize in vessel claims, there are several key aspects to consider:

1. Specialized Expertise in Marine Claims: Mega yachts are complex assets with specific insurance needs, so it’s essential to work with adjusters who have deep knowledge of marine insurance policies, vessel repair costs, and the maritime environment. Public adjusters like Global Patriot Adjusters understand the nuances of yacht policies and how to maximize claim settlements based on those details.

2. Understanding Policy Coverage: Mega yacht owners must ensure that their insurance coverage includes all potential risks, such as damage from hurricanes, storms, theft, or mechanical failures. A public adjuster will help clarify any vague language in the policy and identify coverage that applies to the specific loss.

3. Accurate Damage Assessment: Vessel claims require thorough and accurate damage assessments. Experts like Global Patriot Adjusters bring in marine surveyors and other specialists to document every aspect of damage, ensuring that the claim reflects the full scope of necessary repairs, which can include expensive parts or services specific to mega yachts.

4. Negotiating Complex Claims: Yacht insurance claims can involve large sums and intricate details. Working with an experienced public adjuster helps owners navigate the insurer's potential pushback on payouts. A professional adjuster will negotiate on the owner’s behalf to ensure a fair and comprehensive settlement.

5. Fast Response for Urgent Situations: Time is critical when dealing with yacht damage, especially after natural disasters like hurricanes. Mega yacht owners should seek public adjusters who offer fast, 24/7 support, like Global Patriot Adjusters, to ensure claims are processed swiftly and repairs can begin as soon as possible.

6. Protecting Financial Interests: Mega yachts represent significant investments, and any delays or mismanagement of insurance claims can have financial repercussions. A skilled public adjuster ensures the yacht owner’s financial interests are protected by minimizing out-of-pocket costs and maximizing the claim payout.

Global Patriot Adjusters is a company built on the single goal of bringing every dollar deserved to clients from an insurance claim. We maintain the best reputation in the Public Insurance Adjuster business because we take every claim for every client as a project with personal ownership and accountability. In cases where hurricanes and tropical storms appear out of nowhere and a bad accident happens, someone needs to be in your corner fighting for YOU!

We specialize in wind and hurricane damage, water damage, structural damage, mold and asbestos damage, business interruption, and more. Please contact us with any inquiries about our services 800-654-3041 or fill out the form.

Please contact us immediately for a Free Claims Evaluation for large vessel. Call 800-654-3041 or fill out the form.

The insurance claims process for yacht owners can be complex, particularly for large and valuable vessels like mega yachts. Here’s a step-by-step guide to the process:

1. Review the Insurance Policy

• Before any incident, yacht owners should carefully review their insurance policy to understand coverage, exclusions, and limits. It's important to know what types of damage (e.g., storms, theft, or accidents) are covered and if specific marine risks are included.

• Yacht owners should also ensure that their policy is up-to-date, especially if they’ve made any significant upgrades to the vessel.

2. Report the Incident

• Immediately after an event like a storm, accident, or theft, the yacht owner must notify their insurance company. Most policies have a specific timeframe within which claims must be reported. Delays in reporting could result in denial of the claim.

• Provide initial details of the incident, including the date, location, and nature of the damage or loss.

3. Document the Damage

• Thorough documentation is essential for a successful claim. Take detailed photographs and videos of the damage from multiple angles. If the damage is extensive, consider hiring a marine surveyor to provide a professional assessment.

• Keep records of any temporary repairs or actions taken to prevent further damage, as insurers typically require owners to mitigate additional losses.

4. Hire a Public Insurance Adjuster

• While insurers will assign their own adjuster, yacht owners can hire a public insurance adjuster like Global Patriot Adjusters, who specializes in yacht and marine claims. They work on behalf of the yacht owner to assess damage, document losses, and negotiate the best possible settlement.

• Public adjusters offer expert advice, helping yacht owners understand their policy and ensuring that the full extent of the damage is included in the claim.

5. Damage Assessment and Survey

• A thorough damage assessment is key in the claims process. Both the insurer’s adjuster and the public adjuster (if hired) will conduct inspections. They’ll evaluate the yacht’s structural integrity, mechanical systems, electrical components, and aesthetic damage.

• Yacht owners should be present or available during these assessments to provide additional details and ensure all damage is accounted for.

6. Submit the Claim

• After gathering the required documentation and assessments, the formal claim is submitted to the insurer. The claim should include photos, damage reports, repair estimates, and any additional evidence supporting the extent of the loss.

• If a public adjuster is involved, they will handle this submission and ensure all necessary documentation is provided.

7. Claim Negotiation

• Insurance companies may try to minimize payouts, so having a public adjuster negotiate on the yacht owner’s behalf can help maximize the settlement. They will challenge any low-ball offers and clarify disputed claims based on their knowledge of marine insurance.

• This process can take time, especially for complex or high-value claims like those for mega yachts.

8. Settlement and Payout

• Once the claim is approved, the insurance company will issue a payout to cover repair or replacement costs as outlined in the policy. This may be a lump sum or phased payments, depending on the scale of repairs needed.

• The public adjuster ensures that the settlement is fair and covers all necessary repairs, including hidden damages that may not have been immediately visible.

9. Repairs and Restoration

• After the settlement, the yacht owner can begin repairs. It’s crucial to choose experienced marine repair specialists who are familiar with luxury vessels.

• Keep all invoices and receipts related to repairs, as these may be required by the insurer for final claim adjustments.

10. Close the Claim

• Once the repairs are completed and the yacht is restored, the claim is officially closed. The owner should review the final repair work and ensure the vessel is back to its pre-damage condition.

Additional Considerations:

• Legal Assistance: In some cases, yacht owners may need legal representation, especially if the insurer disputes significant portions of the claim.

• Salvage and Wreck Removal: If the yacht is severely damaged, salvage or wreck removal may be necessary, and the insurance policy should address who bears these costs.

By working with experts like Global Patriot Adjusters, yacht owners can navigate the claims process more smoothly, ensuring that their investment is protected and the vessel is restored to optimal condition.

Please call us at 800-654-3041 or fill out the form.