Nautilus Marine pays out in four weeks

Nautilus Marine said it took only four weeks to finalise a payout when a boat that was co-owned by three separate families was badly damaged after hitting a rock wall.

The imported Malibu Wakesetter ski boat, which was purchased new in 2005, was stored at Meadowbank, north of Hobart, and used by the three families for family skiing. The incident occurred when the driver side swiped a rock wall, badly damaging the port side.

A claim was lodged with Nautilus Marine and the owners were expecting to have their boat repaired. However, when an assessor was appointed to inspect the boat in Hobart, Nautilus Marine suggested that the boat be written off rather than repaired, based on the assessor’s report (much of the serious damage is not visible in the image).

“We looked at the extent of damage to the boat, the timeframe to repair and more importantly we listened to the concerns of the repairer. After considering all these factors it was in the best interest of the owners to total loss the boat and pay out the claim,” said Mark Crockford of Nautilus Marine.

“The owners could have had the boat repaired and Nautilus Marine would gladly have done so. However, the repairer was concerned that he couldn’t put the boat back to its pre-accident condition. The owners accepted our cash settlement.”
The entire process from the accident to the payout was just four weeks. One of the boat owners (who did not wish to be named) said that the three families who owned the boat were greatly impressed with the service offered by Nautilus Marine.

“We’re pretty embarrassed by the accident,” said the owner. “Initially we would have been happy with a repair to our boat. But the offer from Nautilus Marine to write the boat off and pay us out was a very pleasant and generous offer.”
Nautilus Marine is a wholly Australian owned insurance agency that operates exclusively in the marine industry, and is underwritten by Lumley General. The company has offices throughout Australia and offers insurance through a network of authorised insurance agents.