I pay just over €300 for the entire package. And they paid already a new mast some years ago. However, there is a private contribution of €500 if the damage occurs on a regatta.
I too don't have a wind-limit in my contract, like Klaus. First, it's unrealistic - what if the wind increases while you're on the water and you're unable to return immediately (long distance race)? Second, we all know that strong winds on the water usually don't damage the boat - the trouble starts when you're at the beach again.