The hull deductible is the amount you will pay in the event of loss to the hull, machinery and equipment.
Some boat insurance companies will use flat deductible amounts like $250, $500, $750 or $1000. Others will
use a percentage of the boat value. 1% of the boat value or $250 is generally the minimum deductible available.
Insurance companies give a discount in premium if you agree to a deductible higher than the minimum. The
savings in premium varies per company. Normally the largest percentage of savings comes between the $250 and
$500 (1% and 2%) deductibles. So if you have a $40,000 boat and the minimum hull deductible is 1%, your
deductible would be $400. Most insurance companies will require a higher minimum deductible as the boat ages.
The minimum hull deductible may go from $250 to $500 or 1% to 2%.
Trailers, tenders and personal effects are not generally included in the hull deductible. These items have
flat deductible amounts of $100, $250 or $500 and generally can not be changed.
Note of interest. Most boat insurance policies do not apply the hull deductible in the event of a total loss.
Review our in-depth Boat Insurance Guide.
See our side by side comparison of the programs represented
by United Marine.