Free tool

Named Storm Deductible Calculator

A named-windstorm deductible on the London-market yacht wording we quote from is 10% of the hull value written on the schedule. Not 10% of the claim. Enter a value and read that figure beside the ordinary 1% to 5% deductibles, with the money between them.

Aerial view of a white sailing yacht lying at anchor over deep blue water in a sunlit Caribbean bay

10%
Of the scheduled hull value, not the claim
1% to 5%
The ordinary hull deductible range
0
Email, account or gate to use it
NOAA
Names the storm that trips the clause

How it works

In one sentence

A named-windstorm deductible is the amount taken off a storm claim, fixed as a percentage of the hull value shown on the policy schedule. The London-market yacht wording we quote from sets it at 10%, and applies it to every claim, including a total loss.

The calculator

Enter the value that will be on the schedule

Work out the figure

Enter the agreed hull value you want written on the schedule. Every number below is that figure multiplied by a percentage, so the arithmetic can be checked on paper.

Agreed hull value

The sum insured for the hull, as it will read on the schedule.

What comes off a claim

Ordinary hull deductible, at the 1% band

1% of the scheduled hull value

$2,500

Ordinary hull deductible, at the 5% band

5% of the scheduled hull value

$12,500

Named-windstorm deductible

10% of the scheduled hull value, at 10%, with a signed hurricane plan

$25,000

What a named storm adds

$22,500 more than a deductible written at 1% ($25,000 − $2,500)
$12,500 more than a deductible written at 5% ($25,000 − $12,500)

What the 10% is taken on

The hull value shown on the schedule, not the size of the claim. A partial repair and a total loss on the same vessel carry the same named-windstorm deductible, because both are measured against the same scheduled figure.

The clause is tripped by a named or numbered windstorm as defined by the National Oceanic and Atmospheric Administration or the equivalent government agency, so the wind speed recorded at the berth is not the test.

A signed hurricane plan agreed by underwriters before cover is granted is a condition precedent to named-windstorm cover. Without one there is no named-windstorm cover at all, so the deductible question never arises.

No plan on file yet? Build one with the hurricane plan generator and send it with the proposal, rather than looking for it in August.

Read the full guide to the named-windstorm deductible

Arithmetic on the figure entered, not a quote and not financial advice. The deductibles that apply to a policy are the ones written on its own schedule and Confirmation of Cover.

The basis

Ten per cent of what, exactly

Of the hull value specified in the schedule. The wording says so in one line, and in the same line it says the figure applies to a total loss too.

Loss or damage to the vessel related to or resulting from any named or numbered windstorm or weather pattern as defined by the National Oceanic and Atmospheric Agency or any equivalent government organisation shall be subject to a 10% deductible of the hull value specified in the schedule and shall apply to all claims including actual and/or constructive and/or compromised total loss of the insured vessel.

London Marine Insurance Services yacht policy wording, hull and machinery deductible section. Held on file and quoted by clause rather than linked, because it is a policy document rather than a public page.

Two things follow. The deductible is known the day cover is written, and moves only when the agreed value moves. And it does not shrink with the claim: a partial repair is measured against the scheduled hull value exactly as a total loss is.

The ordinary hull deductible is written the same way. The wording carries alternative endorsements at 1%, 2%, 3%, 4% and 5% of the hull value, so the comparison this tool draws is between two percentages of one base, not between two different measures.

The condition

Before the deductible matters at all

Named-windstorm cover is granted against a signed hurricane plan. Without one the cover was never granted, and the 10% never comes up.

A signed and dated hurricane plan, agreed by underwriters before cover is granted, is a condition precedent to liability. The wording reserves that phrase for three things and this is one of them.
The trigger is naming, not wind speed. A system carrying a name or a number counts, as defined by the National Oceanic and Atmospheric Administration or the equivalent national agency, which is what lets the clause work outside the Atlantic.
Where the clause bites geographically is set by the Confirmation of Cover rather than by an industry map. No single box is published, and any coordinates found elsewhere belong to whoever published them.
The deductible is one line of the schedule. Navigational limits, lay-up dates and survey conditions sit beside it and are read together.

Storm names come from the National Hurricane Center, which publishes each season's name list and issues the advisories that put a system on it.

The mechanism, the total-loss consequence and the hurricane-box question are worked through in the named-windstorm deductible guide.

World Yacht Insurance is an introducer. It is not an insurer and carries no risk. Cover is arranged and placed in the London market by London Marine Insurance Services Ltd, a Lloyd's-accredited broker authorised and regulated by the UK Financial Conduct Authority under firm reference 308599, which is searchable on the FCA register. Nothing here is financial advice.

Named Storm Deductible Calculator

Enter the value that will be on the schedule

Ten per cent of what, exactly

Before the deductible matters at all

Know the number. Now write the value that sets it.

Quote request

The boat