FAQS About Maritime & Marine Insurance Claims
Below are some frequently asked questions about Maritime & Marine Insurance Claims:
What are the main policies I need for my boaters or commercial marine insurance?
Whether you’re a private vessel owner or a commercial marine business owner, your insurance should consist of three main parts:
- Hull insurance. These policies cover physical damage to your vessel, either on an “all-risk” or “named perils” basis. Common perils include storms, theft, fires, collisions, and other accidents.
- Cargo insurance. These policies cover losses to physical goods in transit on a ship and can cover an individual shipment of goods or any shipment during the policy period.
- Protection and indemnity (P&I). Protection and indemnity insurance covers specific damages and liability associated with owning or operating a vessel not covered by workers' compensation, cargo insurance, or hull insurance.
Other policies you should consider as a private boat owner include uninsured boaters’ insurance. If you’re a commercial vessel business owner, you need workers’ compensation coverage, pollution liability coverage, crew coverage (especially in commercial fishing), and commercial fishing nets and gear coverage.
What are common exclusions in maritime policies?
Your maritime and marine insurance claims attorney from McLaurin Law can help you understand your policy and what damages qualify for a claim. However, not all damages or injuries will qualify. Most boaters’ insurance and commercial marine insurance policies exclude the following:
- Owner insolvency
- Normal leaks not caused by collisions or other damage
- Willful misconduct
- War, riots, or civil commotion
- Improper packing of cargo
- Radioactive exposure or contamination
- Other exclusions
How can a boat insurance lawyer help me file and manage a boaters insurance claim?
Our maritime insurance lawyer can review your policy to determine what steps you need to file your claim. We can also help you learn whether you can claim the replacement cost for repair or replacement, the actual cash value of the current value of the vessel, or the agreed amount value up to the policy limit.
How can a maritime insurance lawyer help me with a commercial marine claim?
An insurance claim denial can be a crushing blow when your business is on the line after damage or loss of a ship or cargo. A maritime and marine insurance claims attorney with McLaurin Law in Houston, TX, can help represent you during the insurance company’s investigation and file suit against the insurance company if they deny your claim in bad faith. Call us at (713) 461-6500 when you need more than luck!
