An element that has become almost essential for safer navigation is having hull insurance coverage; this coverage is not mandatory like liability insurance.
The hull insurance policy offered by many insurance companies generally provides, based on a value determined by the surveyor, the guarantee that any damage that may occur to the boat will be compensated by the insurance company with which you have chosen to insure yourself.
Most companies, in exchange for the premium paid, establish a deductible that is deducted from the loss, or if the damage is below a certain threshold, they may not even activate the claim.
In the event of a claim, it will be necessary for the owner to promptly contact the insurance company and follow the instructions, which often require filing a report of the extraordinary event with the competent authority where the incident occurred. Once this is done, the company will request to wait for the appointment of their own trusted surveyor, who will conduct an inspection and assess the extent of the damage in order to quantify the correct method of repair and the assessment of the loss with a shipyard.
When this process encounters obstacles for any reason, the insured client can rely on a trusted surveyor to assert their technical evaluations.
Generally, in my experience, more well-known companies tend to be relatively quick in handling the aforementioned procedures, but it is also true that time can be lost, especially in more complex claims, to carry out a correct assessment of the repair and to prepare the shipyard to provide the best estimate.
When intending to take out a hull insurance policy, in addition to the cost of the premium, I strongly advise analyzing the coverage offered, as not all companies provide the same basic standards and some formulas may exclude certain essential coverages; for example: sailing regattas, rentals and leasing, certain restrictions on navigation zones, etc.
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