Marine Hull Insurance

Marine Hull Insurance provides protection for marine and ocean-going vessels such as ships, boats, barges, ferries, and passenger vessels against loss of or physical damage while operating at sea, in ports, or inland waterways.

This cover is designed to safeguard vessel owners against financial losses arising from maritime risks and liabilities encountered during normal marine operations.

Scope of Cover

Marine Hull Insurance covers:

• Loss of or damage to the vessel’s hull, machinery, engines, and equipment.

• Accidents occurring at sea, in harbours, or during transit.

• Maritime perils such as storms, heavy seas, collision, grounding, sinking, fire, and explosion.

• Damage caused by contact with fixed or floating objects.

• General Average contributions and salvage charges (where applicable).

Liability Cover

The policy may also extend to cover legal liabilities arising from:

• Collision with other vessels (Running Down Clause).

• Damage to third-party property.

• Certain legal and defense costs related to insured maritime incidents.