Yacht insurance that makes life easier

When you need to make a claim, the last thing you need is an insurance policy that creates more problems. Our market-leading insurance expedites payments to facilitate the repair process following a claim.  

Andrew Pearson, Head of Claims at Burgess Yachting Financial Services (BYFS), outlines the benefits to you that set our policies apart from the rest.

‘When a hull claim arises, often the first question raised is “When we will get paid for the repair work which is required?” Given that superyacht repair costs are often very expensive, that is a very valid question.  

‘While many insurers will provide a Payment on Account to cover estimated initial repair costs and assist the owner with their case flow, the insurance collection process often does not match the financial demands made by shipyards. 

Insurance that fits the bill - and fast

‘To circumvent that problem, BYFS has implemented a new Major Claims Funding Process, whereby once insurers agree on an initial Payment on Account, Burgess can have large claims funded and paid to the owner - often within 48 hours - to expedite cash flow. 

‘This is a market-leading development that is unique to Burgess, and there is no additional charge for this service. It has been designed with the sole aim of assisting the owner to ensure they get their yacht back on the water and ready to be enjoyed again as soon as possible.’