Today while my boat was in the marina it got hit by lightening. There were about 10 witnesses and the were a lot of lightening strike nearby. It missed all the other boats, despite them having bigger masts.
It hit mine and from there was so strong it spread out and re-hit other parts
of the boat and even buildings in the marina.
The sail and sail bag caught fire. The harbour master put it out with a fire extinguisher.
I arrived about an hour later. Sections of the stainless on the cockpit
were still very very hot, while just a foot away was cold as usual. Both charge controllers were still very hot. Most of my electronics
are toast, and so is the sail and bag.
I have insurance
, but now Im reading and it says for example:
The Scheduled Vessel shall be valued at the agreed valuation shown on the declaration page on any endorsement thereto issued by us. However the following items are subject to payment on the basis of depreciated cash value less the applicable deductible. Depreciated cash value
means replacement cost less the annual percentage factor of depreciation shown as follows;
, standing and running rigging
- 12.5% per annum.
However in no event shall the depreciated value be less than 20% of the replacement cost.
were original (2001) but in very good shape and not in need of any replacement any time soon. So does this mean they will pay only 20% for the sail and even remove the deductible from that? So I'm likely to get reimbursed $0 for my sail?