The standard deductible in the Boiler and Machinery coverage form is:

The standard deductible in the Boiler and Machinery coverage form is indeed $500. This deductible applies when a policyholder files a claim related to equipment breakdowns, including boilers and machinery. The purpose of a deductible is to share the risk between the insurer and the insured, meaning that the policyholder is responsible for the first $500 of any claim before the insurance coverage kicks in.

In many insurance policies, the deductible amount can influence the premium cost; generally, a lower deductible may result in a higher premium, while a higher deductible can lead to reduced premium costs. Understanding the specific deductible amount associated with Boiler and Machinery coverage is essential for clients and agents to effectively manage risks and costs in insuring industrial machinery and systems.