Question 1

What is Marine Hull Insurance?

Accepted Answer

Marine Hull Insurance protects the physical structure of a vessel in its entirety — hull, main and auxiliary engines, navigation systems, and on-board equipment — against risks such as collision, grounding, fire, explosion, and sinking.

Question 2

What types of vessels can be covered under Marine Hull?

Accepted Answer

Almost all vessel types are insurable: cargo ships, tankers, passenger vessels, ferries, tugboats, barges, commercial fishing vessels, speedboats, and tourist boats.

Question 3

Does Marine Hull only cover engine damage?

Accepted Answer

No. Marine Hull covers the entire vessel as an integrated unit — hull, engines, electrical systems, navigation equipment, and fixed fittings on board. If you require standalone machinery protection, a Machinery Breakdown extension is also available.

Question 4

How is the insured value of a vessel determined?

Accepted Answer

The insured value is typically set on an Agreed Value basis (a value agreed between the owner and the insurer) or Market Value. An independent marine survey is generally required for larger vessels.

Question 5

Does Marine Hull already include P&I?

Accepted Answer

No. Marine Hull protects your own vessel and usually includes part of the collision liability to other ships. Liability to crew, passengers, cargo owners, piers, and pollution sits in a separate P&I (Protection & Indemnity) policy.

Question 6

Does Marine Hull cover damage caused by crew negligence?

Accepted Answer

Yes. Under the Institute Time Clauses – Hull (ITC), crew, master, or pilot negligence resulting in physical damage to the vessel is generally covered, provided there is no wilful misconduct on the part of the vessel owner.

Marine Hull Insurance

What Does Marine Hull Insurance Cover?

Marine Hull Coverage Basis

Institute Time Clauses – Hull (ITC)

Institute Voyage Clauses – Hull (IVC)

Institute Fishing Vessel Clauses

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