Marine Hull Insurance

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  • Cover damages to the hull of the vessel or ship
  • Get quotes from leading companies such as Iffco Tokio, HDFC Ergo, ICICI Lombard and Tata AIG
  • Get coverage to ship’s engines, equipment, and machinery
  • Get worldwide coverage for ocean-going vessels.
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Advantages of Marine Hull Insurance

Comprehensive Coverage
A Marine Hull insurance policy provides complete protection to the hull and machinery of your vessel from loss or damage due to a range of perils like fire, explosion, robbery, collision and other ship-damaging risks.
Flexible Plan
You have the flexibility to buy Marine Hull insurance to protect your ship or yacht either for a specific journey, or to cover your vessel for a specific period of time irrespective of its voyages, which is usually 12 months.
Inland Vessels Covered
A Marine Hull insurance policy can cover vessels that use inland waterways, against a wide range of risks such as collision or piracy, and against raising, removal or destruction of wrecks etc. The sinking of a ship can also be covered.
Easy Documentation
Buying Marine Hull insurance is quick and easy. The sum assured for Hull and Machinery insurance is as per the agreed value, which is equivalent to or approximately the cost of the vessel to be insured.

Benefits of Marine Hull Insurance

All Types of Vessels Covered

  • Marine hull insurance policy covers all types of ships and vessels like ocean-going vessels, coastal and inland vessels, port craft and sailing vessels and their machinery, from a wide range of risks.
  • The policy also covers damage to premium vessels such as yachts, cruise liners and other pleasure boats. Coverage to a vessel in dry docks is also possible.
  • Damage to other boats caused by the insured vessel is also covered under hull insurance.

All Risk Cover

  • Marine hull insurance is a comprehensive policy covering all types of vessels against various risks such as fire, burglary and theft. The policy will also pay for the loss due to the negligence of crew, pollution hazard and loss of fixtures attached, as functional parts, to the hull of the ship.
  • The total ascertained loss is covered based on actual, compromised or constructive losses.
  • This policy offers protection to your vessel during a voyage from one port or place to another or a round trip.

Financial Protection

  • As a ship or boat owner, you can reduce the risk of suffering a financial loss if your vessel is lost or damaged during a voyage, during installation of equipment at dock or harbour, or due to any maintenance activity.
  • The policy will pay for labour wages, legal expenses, maintenance and agency commission, and 75% of collision liability in case of loss.
  • Extensions like third party liability, business interruption and terrorism cover can be introduced in the policy.


Marine Hull insurance protects vessels against damage and destruction of hull, machinery, fittings and freight. The range of risks such as fire or explosion, sinking, capsizing, derailment, burglary, jettisoning, piracy, earthquake, volcanic eruption or lightning is covered by the policy. Damage due to collision with other ships, aircraft or other vehicles on land or sea is also covered.
There are many additional extensions available like coverage to terrorism, business interruption and third-party property damage or bodily injury which can be included by paying some extra premium. Removal of debris and damage due to war, strike, riot and civil commotion can also be covered as an extension.
Marine hull and machinery insurance have certain common exclusions such as wreck removal, wear and tear, malicious damage, damage due to a nuclear attack or radioactive contamination and pollution. Damage due to willful or intentional activity is also excluded from the policy.
Yes, accidental damage to vessel caused due to earthquakes, volcanic eruption and lightning are covered by marine hull policy. However, remember that damage to the fishing vessels or other sailing ships in a sea storm after the issuance of a warning is not covered under the hull insurance policy.
In case of a claim, you should intimate us and provide information on nature and extent of the loss or damage. We will further intimate this to the insurer, who will then appoint the surveyor to analyse and verify the claim. We will work with you to submit all necessary claim documents required by the insurance company and will ensure that the claim to be settled fast.
In case of any claim under hull policy, you need to present the required set of documents to the insurer in order to process the claim. These include claim intimation form, deck and engine room log book, receipt of any repairs, drydocking, estimate of cost of replacement or repair of damaged part etc. Some additional documents may also be asked for by the insurer, depending on the nature of the claim.
The Institution Time Clause FPA coverage also known as Free of Particular Average coverage protects the vessel from any physical loss or damage due to all types of risks such as fire and allied perils. But machinery damage is an exclusion under this clause. Also, this coverage is usually given to the vessels which are older than 15 years.
In order to ensure smooth claim settlement, you should provide accurate information to the insurer as this is the main cause of claim denial. It is important to intimate the insurance company or us as soon as the claim occurs for the timely appointment of the surveyor. Further, you have to make sure all the supporting documents required by the insurance company are submitted without any delay.
The premium rate of Marine Hull insurance generally depends on various factors such as type and age of vessel, valuation or cost of the insured vessel, tonnage and traditional limits, size of deductibles and ownership terms of the vessel. Past claim experience also plays a major role while determining the premium.
In order to buy the best hull and machinery insurance, you should look after the type of coverage provided by the insurer, additional extensions available, key exclusions and premium of the policy. We can help you in analysing your requirement and design the customised insurance for you as per your risk profile. In order to get the best hull insurance quotes online, you just need to fill the above form.
The basic policy does not cover loss due to terrorism. But you can include this cover as an extension by paying a marginally extra premium. It is recommended to include this cover at the time of buying the policy so as to take advantage of the price benefit. You should make sure that you include all the necessary coverages before buying the policy.
Yes, including deductible will certainly affect your premium amount. You can reduce your premium amount by opting for a higher deductible. This also means that you have to pay more from your pocket at the time of claim. Hence you should choose your deductible amount judiciously when buying the policy.
Marine hull insurance works by compensating the boat or ship owner in case the vessel gets damaged due to perils covered under the policy. This policy pays for any repairs or replacement done in the hull and machinery of the vessel due to any total or partial loss, hence offering financial protection to the boat owners.
The risks of ocean and sea travel are as high as road or air travel. Your ship could get damaged due to fire, burglary or collision with other vessel or at the port. The loss to the marine vessel can be enormous as they are very expensive. Buying Marine Hull insurance will help you by protecting your vessel from various hazards and risks.
This is one coverage offered by Hull Marine insurance that is applicable to business owners who give vessels on hire. If a vessel gets damaged due to certain covered conditions while given on charter, the policy will pay for the loss of earnings suffered by the shipowner.
As a Marine Hull policy covers various types of vessels, anyone who owns any water-faring vessel like a boat, ship, yacht, dredger, trawler, fishing boat, or cruise ship, should consider buying a Marine Hull insurance policy. Even if you are a seller or trader of marine ships, yachts or other pleasure boats, you should consider buying this policy.


What is Hull Insurance?

Hull insurance is an insurance policy especially designed for covering ship damage expenses, the ‘Hull’ refers to the main body of the ship. Hull insurance can be understood to be somewhat like a car insurance, with the difference being that it is meant for a water-faring vehicle instead being for of a land-faring vehicle.

Hull insurance also includes any fixtures attached..
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What is a constructive total loss in Marine Hull insurance policy?

A constructive total loss in marine hull insurance means that the cost of repair of a damaged ship/vessel is more than the value of the ship/vessel.

In a constructive total loss, the insured vessel is abandoned as its actual total loss appears to be unavoidable. Retrieving the ship from the place where it is abandoned...
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What is Insurable Interest for Different Parties under Marine Hull Policies?

The different parties which can take the cover under the Marine Hull Policies are as follows: Ship owners, Shipbuilders, charterers, bankers, financiers of Ships or vessels who have Insurable interest.

Ship owner’s insurable interest: The marine hull policies cover the ship’s body or her ‘Hull’, also the ship’s machinery...
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