Excess
Boat insurance term, area: Contract
The excess, called a deductible in some wordings, is the part of each claim you pay yourself. Choosing a higher excess lowers the premium. Check whether it doubles in certain situations, for example theft when the boat or outboard is not kept in a locked building, and whether different sections of the policy carry different excesses.
What to check: What is the standard excess, and is it higher for theft, storm damage, or sails and rigging? Is it waived for a total loss, or when the damage was caused by a third party who was at fault?
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More terms
A general explanation in our own words.
What applies to you is set only by the wording of your own policy.
