Having decided to ship your vessel, you, of course, have already bought the insurance to be sure that in case of any damage you will get the compensation. But this is not enough. You have to think over your insurance properly and verify it before shipping process.
Begin to verify your insurance with requesting a certificate of insurance from the service provider. Every legal carrier is responsible for carrying a minimum of cargo and liability insurance. However, you will want to verify your carrier's specific coverage. You have to be sure that your provider carries enough insurance for the cargo as well if your carrier will also ship your boat parts for you.
Pay attention to the following tips when evaluating your boat or yacht transportation company's insurance policy:
1) The first thing you have to do is to double check any insurance information you are provided.
2) Your carrier must provide a Commercial Insurance Policy.
3) It is important to check that your boat transport company provides cargo insurance (NOT just liability insurance). This is the only kind of insurance that will cover your boat.
4) Valuate your boat and ensure your boat carrier's cargo policy offers coverage of equal or greater value than your boat.
5) Ask about deductibles and the process for claims. Find out how quickly claims are handled and how you should submit damages.
6) If a transporter's cargo policy is inadequate, request that they purchase short-term additional coverage for your boat. Then get a copy of the short-term policy and verify it.
Don't forget to contact your own boat insurance provider to inform them of your plans for boat or yacht shipping. It is important to check if your current boat insurance protects you against losses incurred while a company is transporting your boat. Moreover, your boat insurance company may also be able to refer you to a reliable boat transportation company.