Guides
Percentage excesses after a named storm
A schedule shows a normal excess and a separate percentage for cyclone damage. You need to know whether that percentage applies to insured value, loss amount or another basis. Two identical percentages can produce different amounts when the underlying definitions differ.
Recording storm excesses and insured value
- The schedule showing every applicable excess
- The policy definition of cyclone, storm or named event
- Any geographical or seasonal endorsement
- The insurer’s worked explanation for your vessel value
Keep the original documents as well as a readable summary. Use filenames that identify the vessel, date and subject so another owner, skipper or assessor can follow the record. Store an offline copy of the current certificate and emergency contact details for use when connectivity is poor.
Confirming combined cyclone deductions
Start with the related detailed guide, then describe your actual scenario to the insurer or broker. Ask them to identify the applicable wording and any action required before you proceed. Keep the question and response together; a general product brochure cannot resolve a vessel-specific condition.
Frequently asked questions
Can more than one excess apply to the same incident?
That depends on the wording governing multiple excesses. Ask which excesses would apply to the specific scenario and whether they are cumulative or whether only one is deducted. A sample calculation should identify the clauses used.
Which documents should I read together?
Read the current Product Disclosure Statement with the policy schedule, certificate and any endorsements. Check that you have the version applying to your cover period. Your own document set is the starting point for a specific coverage question; this guide supplies a preparation method rather than a promise of cover.
Related guides
- Cyclone Boat Insurance Australia
- Yacht Insurance Guides: Buying, Renewals and Claims
- Boat Insurance Excess Calculator
- Boat Insurance Cost Comparison Calculator