Written and edited by GabrielPowered by YouSail.com.au
Sailboat InsuranceAustralia · Independent guide

Boat Insurance Excess Calculator

Calculate a fixed or percentage boat insurance excess, including minimum amounts and an optional additional standard excess.

By GabrielLast reviewed Runs in your browser · optional saving on your device

Example: 5% of $100,000 is $5,000. If a $1,000 standard excess also applies, the combined excess is $6,000. Use the calculation basis stated in your policy.

Australian dollars. Enter 0 if none applies.
Use 0 for a fixed-only excess.
Australian dollars. Enter 0 if none applies.
Australian dollars. Enter 0 if none applies.
Australian dollars. Enter 0 if none applies.

Calculated excess

$5,000.00

Event excess = the greater of the minimum and (fixed amount + percentage × selected basis). Add the standard excess only when selected. Check any policy maximum separately; a small accepted claim may produce no payment if its excess exceeds the loss.

Inputs stay in this browser. Saving is optional; avoid saving on a shared device.

Boat insurance excess
Basis: sum insured, AUD 100000
Percentage: 5%
Fixed: 0
Minimum: 2500
Standard: 1000 (replace)
Calculated excess: $5,000.00

How to calculate the excess

Enter the percentage, the amount it applies to, any fixed event component and the minimum event excess. The model uses the larger of the minimum or fixed-plus-percentage amount. Add the standard excess only if the policy says it applies in addition. A percentage of the sum insured is different from a percentage of the claim.

Worked example

An event excess of 5% of a $100,000 sum insured is $5,000. A $2,500 minimum does not change that result. If a $1,000 standard excess applies in addition, the model total is $6,000; if the event excess replaces it, the result stays $5,000.

Check the wording first

  • What amount is the percentage based on?
  • Is the event excess additional to, or instead of, the standard excess?
  • Is the minimum applied to the event component or the combined amount?
  • Does a different excess apply to total loss, racing, named storms or unattended mooring?

Save, download or print your results

These tools run on your device. Use Save on this device to keep a draft in this browser; saving is optional. Reset removes the saved draft. Download creates a text summary, and Print / save PDF opens your browser's print options. A saved worksheet is not an insurance application or confirmation of cover.

Frequently asked questions

Is the excess the amount I will pay for any claim?

Not necessarily. A loss below the excess, an excluded loss or other policy deductions can produce a different result. This tool calculates the selected excess formula, not a claim payment.

Related guides

General information onlyThe information on sailboatinsurance.com.au is general educational information only. It may be wrong, incomplete or out of date, and you should not rely on it as a substitute for the current policy documents or professional advice. It does not take into account your objectives, financial situation or needs and is not personal financial product advice. Insurance cover depends on the actual policy wording, Product Disclosure Statement, certificate of insurance, endorsements, exclusions, limits, sub-limits and underwriting decisions that apply to your vessel. Always read the current policy documents before buying, renewing or changing cover. For legal, financial or insurance advice about your own circumstances, consider speaking with an appropriately licensed professional.