This refers to insurance of vessels including ships, boats, yachts, and other sea going vessels. “Hull” refers to the body or frame of the ship and this cover protects against loss and physical damages to the hull and attendant liabilities. Get a free quote today.
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 and until delivery of the ship to the owners.