loss-adjusters, surveys and investigations
Specialists in the fields of SHIPPING and WATER SPORTS
There is no such thing as a 'standard' pleasure craft. In no
other branch of insurance is there such a great variety in
construction methods, versions, equipment and motorization as characterizes
the pleasure boat sector. The general lack of rules and
regulations is partly due to this situation. A significant
part of the Dutch pleasure fleet consists of amateur-built
boats, and even a yard-built boat may constitute – due to
amateuristic conversions – a completely different risk than
it appears to be on paper.
Frequently, the owner also proves to know too little about the
value or the technical details of his vessel. This means that
the information stated on the application form may deviate
from the truth. In the event of damage, this can lead to
disappointments or even disputes because there was no clear
picture of the insured object beforehand.
In many cases, therefore, it is advisable to have a risk that
is presented for insurance inspected before final acceptance.
Preliminary inspection is not only laudable from the point of
view of prevention; it also assures the insurer and the
insured party that the premium is proportionate to the risk.
It goes without saying that we, in addition to assessing the
value, also make recommendations on safety and any identified
technical faults. We are fully equipped to carry out this
work, which is performed at a pre-agreed rate. This rate is
the same for any inspection location within the Netherlands.
Valuation (Article 7:960 (22.214.171.124) BW of the Commercial
In practice, the 'current market value' arrangement - in
general use since the early 'eighties - has frequently been
found to give rise to disputes in total loss cases, i.e. when
the object is rendered (virtually) unrecognizable by damage or
is missing entirely.
Particularly in the case of exclusive vessels in the higher
price class, the applicant will want clarity in advance:
especially when the object is accepted without preliminary
inspection. For this category of vessels, periodic inspection
(e.g. every 24 or 36 months) is also desirable during the
lifetime of a policy.
A possible fringe benefit for the insurer is that he no longer
has to bear the cost of a preliminary inspection; a '7:960
valuation' is normally carried out at the expense of the
The desire for regular valuation usually emanates from a
target group that is interesting to insurers: the owners of
more expensive and well maintained vessels. We provide these
'7:960 valuations' for a fixed fee.