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Old 31-10-2012, 18:35   #1
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Join Date: Mar 2011
Posts: 253
Insurance coverage/Salvage rules

I was wondering if anybody had knowledge around salvage rules and how recovery works after hurricane damage.

My boat along with about 25 others are scattered around the yacht club's yard in piles and we need to bring in equipment to pick them up and put back on jack stands.

There are a few insurance policies involved: each owner's, the club's liability, and the club's flood insurance. This was caused by an unprecedented tidal surge in NY.

The club is managed largely by the members and we're in uncharted waters here.

Who covers what and how do we negotiate hiring help to pick the boats back up?

Also, would the club's insurance cover any vessel damage?
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Old 31-10-2012, 18:49   #2
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Join Date: May 2011
Location: Toronto
Boat: Sandpiper 565
Posts: 2,597
Re: Insurance coverage/Salvage rules

I'm pretty sure that clubs and marinas generally don't bear any responsibility for a freak act of nature. That's why boat-owners have their own insurance.

Just guessing, but I believe the one essential call you have to make is to your insurer (for both the boat and the club), then it's in their court to manage, since they will be footing the bill. They will want to act in whatever way minimizes their payout, which isn't a bad thing because they will benefit by preventing as much damage as possible to the insured items, and anything that the boat itself might damage (eg crushes someone's house). I wouldn't at all be surprised if the insurers all get together and collectively hire the contractors necessary to clean up the damage and start to sort out the insured boats.

Just a guess. Start making those phone calls, and good luck.
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Old 31-10-2012, 18:55   #3
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Posts: 253
Here is the response from my insurance company:

I will need the following information to process your claim:

Your signed statement: providing a brief description of what happened, the name, address and phone numbers of the driver, as well as the date, time and place it occurred (body of water or roadway, zip code of the nearest town). Please submit a copy of any government report (police/sheriff/fish & wildlife, etc.) that has been or will be filed. Lastly, please confirm your Lien Holder for the boat if there is one.

A written bill from the towing/salvage company.

Please feel free to contact me with any questions that you have and I will let you know of any additional information that we need after the above items are reviewed and keep in mind that any storage charges are not covered by your policy (Part E item 2g).
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