Jump to content
Chip

Insurance Deductible

Recommended Posts

Having some work done on the boat from a mishap this weekend and turned it in on insurance,couldn't remember what the deductible was and found out it was 1000 deer.

Was curious what others were running.

Share this post


Link to post
Share on other sites

Deductibles are USUALLY 1% of insured Hull Value - so ours is $1,000

Standard is $500 on vessels $50,000 & less - depending on age.

You can buy down your deductible

Some companies have a declining decductible (every yr claim free - deductible reduces by 10% up to Half of original)

(If Stailess & Counter Rotating (Dual prop) min. $1,000 on lower unit - with some companies)

Share this post


Link to post
Share on other sites

250 here, but my boat isn't worth nearly as much as many of yours. It was only 35 deer more to have a 250 as opposed to the 500 deductible. I have a Bravo-III which is what I'm really insuring, since they are so many deer needed to repair or replace.

Share this post


Link to post
Share on other sites

One other insurance taboo that you may want to check on is your home owner’s insurance umbrella policy on liability. Most have switched to $500,000 minimum primary coverage from you boat policy before they will kick in. My company (State Farm) has a $300,000 minimum, which my boat policy covers. Don’t get caught in the donut hole for a lousy 30/year additional premium. Check your boat coverage, and then call your home owner’s policy agent.

W

Share this post


Link to post
Share on other sites

We carry 1000 deer deductable, for 300K of coverage. We also carry 1M umbrella, to me this should be a must if you own a boat...very cheap 120 deer per year. If someone gets hurt or killed in a accident whether you are at fault, there will be litigation.

Protect you’re a$$ets

Dave

Share this post


Link to post
Share on other sites

Join the conversation

You can post now and register later. If you have an account, sign in now to post with your account.

Guest
Reply to this topic...

×   Pasted as rich text.   Paste as plain text instead

  Only 75 emoji are allowed.

×   Your link has been automatically embedded.   Display as a link instead

×   Your previous content has been restored.   Clear editor

×   You cannot paste images directly. Upload or insert images from URL.

Loading...

×
×
  • Create New...