Marine Hull Insurance

This refers to insurance of ocean-going steamers and other sea vessels. “Hull” refers to the body or frame of the ship.

Hull insurance provides the cover for the ship’s body, machinery and the materials, stores and provisions for the officers and crew. In addition, the policy insures against certain liabilities which may occur.

  • The coverage of maritime perils namely fire, collision, and stranding.
  • The coverage of additional perils such as latent defect in machinery, accidents in loading / discharging cargo.
  • May also cover vessels in course of construction, which are taken by the ship builders.
  • Coverage starts from keel laying until delivery of the ship to the owners.
  • Covers loss/damage to third party property, port property and injury/death to third parties.