What if my boat is totaled? - Kentucky Farm Bureau

What if my boat is totaled?

A watercraft is considered a total loss if the estimated cost to repair exceeds 75% of its actual cash value (ACV). The decision whether to repair or declare a watercraft a total loss is based on the type and extent of damage, age of the boat, state law and other factors. In order to make the determination, we will have to inspect the vehicle.

If your watercraft has been determined to be a total loss, you will be paid the actual cash value of the watercraft as established by conducting a local market survey, less any applicable deductible.