Five Things Progressive Ins Co Wants You to Know about Named Storm Deductibles for Boat Policies.
With boats on the water and hurricane season upon us, we compiled a list of The Top Five Things You Need to Know about Named Storm Deductibles for Progressive Boat customers:
- It only applies to losses that occur in a county that was under an official Tropical Storm or Hurricane Watch or Warning at the time of loss.
- While Disappearing Deductibles will not apply to a named storm loss, all Disappearing Deductible benefits will continue to accrue.
- The Named Storm deductible is either two times the original Comprehensive deductible, or five percent of the watercraft value — whichever is larger.
- Both the Application and Declarations pages show the Named Storm deductible amount.
- You can encourage your customers to reduce their risk by having a hurricane plan and following these steps for preparing for major storms.