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Partial loss
Boat insurance term, area: Settlement
A partial loss is damage that can be repaired, as opposed to a total loss where the boat is lost or destroyed. Most hull claims are partial losses: a dented section of hull, a damaged drive, a torn sail. What matters is how the policy pays them: in full, or with a deduction that grows with the age of the boat. Example: after a collision in harbour, the gelcoat at the bow has to be repaired and refinished.
What to check: Two questions for your own policy: are partial losses paid without deductions for age, or on a depreciation scale? And from which age of the boat or the part does a deduction start, and how large does it get?
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A general explanation in our own words.
What applies to you is set only by the wording of your own policy.
