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Published on the 20th May 2024

Find Out How To Claim For A Boat Wreck On Insurance

Reading Time: 5 min read

Find Out How To Claim For A Boat Wreck On Insurance

Not many boat owners embark on a trip with the possibility of a boat incident or accident at the front of their minds. On the contrary, it’s likely that navigational courses, equipment checks and a relaxing sail are the topics most boat owners will want to focus on.

However, it may be an oversight if sailors and boat owners don’t prepare for the risks of sailing as well as the opportunities. According to the EMSA (European Maritime Safety Agency), there were around 2,646 annual maritime incidents between 2014-2022 in European waters.

The EMSA also reports that 45.3% of these incidents occurred within internal areas, such as ports, while 44% took place en route in midwater or in transit. These statistics highlight that even when closer to land or home, unexpected incidents can happen, demonstrating the need to secure adequate insurance coverage before setting out.


  • What are the most common boat insurance claims?
  • Find out how to claim for a boat wreck on insurance?
  • What types of boat insurance do GasanMamo offer?

What Are The Most Common Boat Insurance Claims?

In the latest IUMI (International Union of Marine Insurance) report, the data shows that the top causes of claims by value in marine insurance are:

  • Fire and explosion: 18%
  • Shipping incidents (collision, sinking): 17%
  • Damaged goods (handling, storage): 12%
  • Machinery breakdown: 12%
  • Natural catastrophes (hurricanes, storm damage etc.): 9%

Some of these incidents may only cause minor damage; however, in a few cases, a more extensive repair or replacement may be required. When it comes to fire or explosion, there may be unseen fractures to the engine, which should be checked by an approved boat repair professional.

If you experience a collision, this may happen in a number of ways. Your boat could collide with another or a harbour wall, pier or buoy. These could be the result of racing activities, a mistimed manoeuvre or during a leisure sail, and could occur more regularly in the warmer months when more boats are taking advantage of the good weather.

For those boat owners without an active and appropriate boat insurance policy, this type of incident could hit the wallet hard. Ensuring you have the right coverage to suit your boat size and type is essential in protecting both you and your boat from harm or injury.

Image to show that the top causes of claims by value in marine insurance are: Fire and explosion: 18%, Shipping incidents (collision, sinking): 17%, Damaged goods (handling, storage): 12%, Machinery breakdown: 12%, Natural catastrophes (hurricanes, storm damage etc.): 9%

for the blog post find out how to claim for a boat wreck on insurance

How To Claim For A Boat Wreck On Insurance?

In the event of a boat accident, or in the unfortunate case of a boat wreck, there are some key steps to follow that help you start the repair process so you can get your boat out on the water again:

Exchange boat insurance details

If another vessel is involved in your incident, then exchange details with the boat owner. Make sure you get their address, boat licence and details of their boat insurance coverage. This information will be necessary in order to settle any claims and arrange any repairs.

Contact your insurance provider

Get in touch with your boat insurance company as soon as you can post-incident to let them know what has happened. Try to give them all the relevant information so they can process your claim. You will need to pass on details such as policy number, date, and location of incident, as well as a clear damage description.

Get written insurer consent

Tempting as it is to get on quickly and arrange repairs through a boat repair company, it’s best to wait for written confirmation from your insurer. If you go ahead without first receiving this authorisation, you may find there are costs you have to pay yourself if they are not covered by your policy.

Be familiar with your boat insurance policy

Knowing what is covered and keeping this in mind will help you manage your expectations when it comes to making a boat wreck or accident claim. If you are aware of what is set out in your policy then you will be able to take a clearer pathway to a solution.

What Types Of Insurance Cover Do GasanMamo Offer?

We are specialists in boat insurance provision across Malta. As part of our expert services, we offer wide-ranging and flexible boat cover for an extensive variety of crafts.

We also like to simplify the boat insurance process for customer ease. Consequently, we offer:

  • Comprehensive covering loss or damage to your boat and third party property damage and/or bodily injury.
  • Third Party Only covering third party property damage and/or bodily injury.

With our policies, you have automatic access to an efficient claims service and convenient, immediate assistance from our appointed consultants to help when you need support.

Begin your own search for the right plan in Malta by looking through the attractive benefits you can access on our boat insurance page.

GasanMamo Insurance is authorised under the Insurance Business Act and regulated by the MFSA.