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Master's Note of Protest 

"Master's Note of Protest" is  simply your statement of the events surrounding the accident.

The Note of Protest (NOP) should be completed with as much detail as possible. This includes, but is not limited to, date, location, names and contact information of all persons on board the vessel  at the time of the accident - including the person at the helm at the time of  the loss, weather contitions and all specific details relevant to the loss.

Why do I have to submit estimates for repair?

Insurance policies generally require that you submit 2 estimates for repair.  This is because the cost to repair certain equipment varies with the type, age and model of the equipment and can be greatly different from region to region and repair yard to repair yard.

In most insurance contracts, depreciation will apply to the cost of certain replacement components. 

Different types of components are depreciated at different rates. 

Depreciation is based on the age of the component replaced.  Please see your insurance policy for specific depreciation terms and conditions. 

Will my insurance company pay me directly or will they pay the repair yard?

Your insurance policy is a contract between you and the insurance company.  Therefore, your insurance company will pay you directly.  The charges incurred from the repair yard will be your responsibility.

 

Will I get my check before my boat is repaired?

Insurance policies are "indemnity policies."  This means that the insurance company will reimburse you for the reasonable cost of repairs and replacements for damages (subject to specific policy terms and conditions) incurred as the result of a covered loss.  Some insurance companies will extend partial payments to assist with approved repair costs.  See your insurance policy for the terms and conditions specific to your situation.