Make sure you're covered

1. If an accident happens because a worn out part fails, is the part excluded or is the claim rejected?

2. Does the insurer need a condition survey? If not, and the boat is more than a certain age, does this mean worn parts are not covered?

3. When does ‘agreed fixed value’ apply as opposed to ‘market price at the time of loss’?

4. In cases of partial damage will your policy cover the actual cost of repair? If the words ‘reasonable cost’ or ‘average cost’ are in your policy, be clear what exactly that means.

5. What parts and/or equipment can be subject to deductions due to their age or condition when replaced following a claim?

6. If a ‘New for Old’ deduction can be applied, does it apply to parts and materials only, or to all costs including labour costs? And can the insurers elect to replace parts, or the boat itself, with those of a similar age and condition?

7. Do the insurers have the final say on where repairs are to be carried out?

8. Whose personal effects will be insured – everyone on board or just the insured?

9. Is use of the vessel restricted in any way that may affect you – single-handed sailing, night sailing, specified winter lay-up period, club racing etc?

10. Is liability covered under the same policy as damage to your own boat? Does the policy excess apply?