Marine hull insurance
Marine hull and liability insurance covers damage or loss to the vessel, including its machinery and equipment.
Ensure smooth
sailing
Marine hull and liability insurance covers damage or loss to the vessel, including its machinery and equipment. Types of hull insurance that we provide are:
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Institute Time Clauses – Hulls
Covers loss or damage to the Hull or/and Machinery which can evident physically.
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Institute Time Clauses – Hulls Total Loss Only
Covers the Total Loss or damage to the Hull or/and Machinery which can evident physically. Total Loss refers to the situation where the position is clear and a Constructive Total Loss refers to the situation where a loss is inferred. In practice, a Constructive Total Loss might also be used to describe a loss where the cost of repair is not economic.
Perils
Covered
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Fire explosion, Jettison, Lightning windstorm, Hail, Piracy Tornado, Earthquake
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Collision or contact with other vessel or floating object / fixed object
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Theft committed by persons other than ship’s crew
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Contact with aircraft, helicopters or similar objects, or objects falling there from, land conveyance, dock or harbor equipment or installation
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Mistake made by master, officers or crew being on duty.
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Volcanic eruption, Heavy weather, Sinking, or/and Capsize, Grounding
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Bursting of boilers breakage of shafts or any latent defect in the machinery or hull
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Accident in loading, discharging or shifting cargo or fuel
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Negligence of repairers.
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General Exclusions
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Loss of life, personal injury or illness
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Pollution (except other vessels with which the insured vessel is in collision or property on such other vessel)
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Engine overhauling e and Maintenance and Repair
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Depreciation
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Deductible
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SRCC
