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- Deductible (or excess)
- When making a boat insurance claim, the deductible is the first part of the claim (the excess) to be paid out by the claimant.
NB: As general rule the higher the considered risk the higher the deductible tends to be to reduce the cost of your boat insurance.
- Depreciation is the process through which the boat insurance company measures and accounts for the reduction in value of a boat and associated equipment due to age (i.e. likely wear) and condition.
- Disclosure of circumstance
- Disclosure of circumstance is to declare in full all material facts so that the boat insurance company can accurately assess potential risk. This is a mandatory obligation of any intended boat insurance customer.
- The draft is the measurement in distance to which a hull is immersed under the water surface. the measurement needs to be taken from the deepest hull/ keel point.