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Calculating your deductible, when the higher one starts to pay off
Calculating it takes one division: the additional deductible by the annual premium saving;
the result is the number of claim-free years before it starts to break even.
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A higher deductible lowers the premium. Whether that pays off comes down to one simple division: another five hundred euros of deductible against sixty euros saved a year means more than eight claim-free years until you break even. A single claim before then wipes out the whole calculation.
So the more important question is not how high the deductible is, but when it applies at all. Some tariffs waive it in the event of total loss, theft and burglary, and for damage to personal effects and to the boat trailer, in other words, in exactly the cases where the sums are largest.
Some policies also reduce the deductible after several claim-free years. Put the two together and you will often find that the lower deductible with full cover is the better choice.
Frequently asked questions
When is the deductible waived?
In some tariffs in the event of total loss, theft and burglary,
and for damage to personal effects and to the boat trailer; the policy schedule says which apply.
Does the deductible fall over time?
Some policies halve it for the first claim after a number of claim-free years; check your wording.
Worked out for your type of boat
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