You're more than likely going to need to strip back some wire, to get to clean tinned copper, then make sure to shrink wrap the connection when you replace it. I would also throw a little grease, like a dallop of Mercury 2-4-c (however anything is better than nothing) on the threads of the mounting bolts. Then use either lock washers or nylon nuts. The washers or nyloc nuts will get from backing off and loosening. The grease will prevent everything from cold-forging together making the next repair/replacement easier as well.
The spot where the horn is located can take spray, if you're in salt water.........enough said.
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