Marine hull insurance
Cover for a vessel itself, its hull, machinery and equipment, together with the liabilities that come with operating it on water.
What it covers
Cover varies between insurers and plans. The policy wording is what decides whether a claim is payable, so read it before you buy.
- Physical loss of or damage to the hull, machinery and equipment
- Perils of the sea: stranding, sinking, collision and heavy weather
- Fire, explosion, piracy and jettison, as the clauses provide
- Collision liability to another vessel, under the running-down clause
- General average, salvage and sue and labour charges
- War, strikes and protection and indemnity risks, where those covers are added
Cover options
- A time policy for a period, or a voyage policy for one stated passage
- Institute Time Clauses (Hulls), or the equivalent wording for the vessel type
- Port risk cover for a vessel laid up or confined to port
- Builders' risk cover while a vessel is under construction
- Protection and indemnity, crew, freight, demurrage and defence covers arranged alongside
- Deductible per claim, set against the vessel's value and trade: [DEDUCTIBLE]
How to buy it
Four steps, with an advisor you can reach at any of them.
Tell us about the risk
Tell us the vessel's particulars, age, class, flag, trading area, crew and claims record.
Underwriting details
An advisor collects the information insurers need to price the risk, and flags anything missing.
Compare quotes
We ask our partner insurers to quote, and put the cover, conditions and premium side by side.
Proposal & policy
Pick a quote, complete the proposal form and KYC, and the insurer issues the policy.
Marine hull insurance: FAQs
Does hull cover the cargo on board?
No. Cargo is insured separately under a marine cargo policy, usually by whoever owns the risk in the goods.
Is crew injury covered?
Not by the hull policy. Crew liabilities sit with protection and indemnity cover, and with employee compensation cover where that applies.
Does the vessel's class matter?
Yes. Class, age, survey status and trading limits drive both acceptance and price, and trading outside the agreed limits can suspend cover.
What is a voyage policy?
Cover for one stated passage rather than for a period of time. It suits a delivery voyage, a tow, or a vessel that sails only occasionally.