FAQs

The questions below are designed to provide you with general information. Contact us if you need help, at anytime.

Q: What does "Agreed Value" and "Actual Cash Value Mean?
A: Agreed Value - The amount paid following a total loss is the amount shown on your policy - without depreciation. Partial loss claims are settled new-for-old without depreciation.
Actual Cash Value - Depreciation is applied on all claims. The amount you receive is the current market value of the boat or damaged equipment at the time of the loss.

Q: What is my broker code?
A: You will find your broker code on your monthly broker statements. If your office is new to PMU then you will need a broker code, please call us for setup.

Q: Where are my renewals?
A: You will find your renewals in the Policy Centre. From the home page, click on the green 'Policy/Express Centre Login'. Once you are logged in, go to My Policies. 

Q: Does Pacific Marine write vessels with jet drive?
A: Yes, we do. And fibreglass jet drives can now be written on Express as well. 

Q: Does Pacific Marine write Liability only policies?
A: No, Pacific Marine only writes "All Risk" policies. If your client is looking for liability only coverage, we recommend exploring our Express program that offers $2 million P&I (Protection & Indemnity) along with Hull & Machinery coverage at a premium that is very competitive with Liability only policies in the market. 

Q: Where will I find my Express expiry list?
A: Your Express expiry list is being uploaded to the 'Manage Policies' section. 

Q: I forgot my login password?
A: When you go to log in to the Policy Centre/Express, follow the 'Request new password' link. The system will email you further instructions to change it. 

Q: Why Are Surveys Required?
A: Surveys are very important in determining the condition and current value of boats.  They can confirm if the vessel is over or under insured.  Survey will determine if there are any safety or maintenance issues with a boat and provide peace of mind prior to purchasing a used vessel. 

Q: Which vessels require surveys?
A: Vessels that are 15 years and older require surveys every 5 years. We usually accept photos for smaller vessels (runabouts and skiboats at 23' and under). Vessels written through Express do not require photos or surveys. 

Q: How should I submit a claim?
A: You can send us your in house claims form, or you can simply email or fax us the relevant claims information: brief description of the loss, when & where the loss occured, where the vessel is now, and the insured's contact information. Also see the 'Make a Claim' section, listed under Marine Products for after hour numbers. 

Q: What is Reimbursement of Emergency Expenses?
A: Also known as emergency towing; if the boater runs out of fuel or has a mechanical breakdown that is unrelated to a covered loss, the boater will be reimbursed for the reasonable costs associated with towing the vessel to safe harbor.