A marine hull insurance policy provides protection to ship owners against loss or damage to ships or vessels and as well as, related financial losses. Therefore, to file a marine hull insurance policy claim, the insured needs to submit various documents to the insurance company.
Documents required for Marine Hull Insurance and the Claim Process:
- A duly filled claim form is required. The following details should be filled in carefully and completely in the claim form of a marine hull insurance policy.
- Date, time, cause, and circumstances of the loss.
- Damaged property details.
- Loss amount claimed
- The proper value of the goods at the time of loss.
- If any other insurance policy had been taken, mention the same in the form
- Certified copy of the note of protest by the master.
- Premium amount payment details.
- Report on the occurrence, to be provided by insureds.
- Survey report
- Original repair bill
- Cash memo
- Weather report by the Meteorological Department.
- Affidavits filed by rescue vessels.
- Certificate of survey for inland vessels.
- Registry certificate.
- Notarized statements of the master.
- Log Book extracts of both engine and deck.
- Crew list along with competency certificate details.
- A copy of the Claim bill. Attach the supporting documents as well.
- R.C. cancellation certificate
- Death certificate of the crew for accident claim
- Post mortem report of the crew for P.A. claim (Personal accidents claim)
- Disability Certificate from Doctor of the crew for P.A. claim
- Legal heir Certificate of the crew for P.A. claim
- Letter of Undertaking where applicable.
Additional Read: Why do You Need Marine Insurance?
Case Study:
A Turbine machinery export company, also, exported turbine parts to different companies via waterways. Because it had given the task of transportation of one of its consignments to the ‘Marina Del Rey’ Shipping Company’. The assignment was to reach its destination within 4 days. However, the owners of ‘Marina Del Rey’ had purchased a marine hull insurance policy to secure their vessel against possible perils of the sea.
During its journey, the ship was caught in a huge storm resulting in damage to one of its cylinders. The ship somehow survived the storm and reached its destination. Once the consignment was delivered, the owners of ‘Marina Del Rey’ immediately contacted their insurance company.
The Insurance company sent their team to investigate the situation and found the cylinder on the ship damaged due to the storm. The marine hull insurance policy bought by the owners of the ship came to their help in fact.
The insurance company asked the owners to file for the hull insurance claim by accordingly, submitting the required documents.
The owners got the weather report on the day of the storm from the Meteorological Department and thus, attached it to the list of the required documents.
Other documents attached by the shipowners were:
- Claim form containing information on the date, time, cause, and as well as, the circumstance of the damage to the cylinder.
- Damaged cylinder details.
- Loss amount claimed on the damaged cylinder
- Premium amount payment details for the marine insurance hull policy taken.
- Survey Report by investigators
- Affidavits filed
- Registry certificate
- List of crew members present on the ship at the time of the storm
The insurance company went through all the submitted documents and therefore, found them to be true.
As a result, passed the claim and the ship owners got the entire claim amount.
Since all the documents were properly maintained and all the premiums were paid on time, the insured could avail of the benefit of their marine insurance hull policy.
Additional Read: What is a constructive total loss in a marine hull insurance policy?
