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Marine Hull Insurance

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Marine Hull Insurance Advantage

Flexible Cover
The marine hull insurance covers damage or physical loss to your vessel, its equipment, engines and machinery. On paying additional premium you can cover the loss and damage due to terrorism, business interruption, third party liability and many more perils. The marine hull policy is highly customizable. It can cover vessels on the oceans, within rivers or operating in ports. An extension to cover the vessel in dry docks is also possible.
Inland Vessels
The marine hull insurance policy can cover inland vessels that use inland waterways. Marine policies cover perils like fire, explosion, collision, piracy and raising, removal or destruction of wrecks.
Wide Coverage
The marine hull insurance policy covers all types of ships and vessels like ocean going vessels, coastal and inland vessels, port crafts and sailing vessels. The scope of cover includes all risks related to Hull and Machinery, floating dry docks, shipbuilding and ship-breaking risk, freight and Protection and Indemnity (P & I) liabilities.
Easy Claim
The claim settlement under a marine hull insurance policy is detailed. Documentation must be done carefully. Any delay in claim settlement can be escalated to us through our mobile app or contact number. We will ensure that the claim documentation is complete and the claim process happens fast and hassle free.

Benefits Overview

List Of Vessels Covered Under Hull Insurance

  • All types of oceanic vessels & inland vessels
  • Ship buildings
  • Yachts & luxury vessels
  • Fishing boats, dredgers

Perils & Risks Covered

  • Fire & explosion
  • Stranding or sinking of vessels, loss of hire
  • Collision, jettisons & piracy
  • Overturning or derailment of inland vessels

Key Exclusions Under Marine Hull Insurance Policy

  • Willful or deliberate damage or destruction of vessels
  • Destruction of vessel by a weapon of war- atomic bomb, nuclear fission etc.
  • Radioactive contamination, exposure to chemicals & bio-chemicals, electromagnetic fields.
  • War, strikes, civil war or act of terrorism

Comprehensive Port Package

The hull and machinery insurance is taken by port authorities, port operators and private jetty owners against physical damage of vessel, third party liability, wreck removal etc.

Oil & Energy Risk Insurance

Purchased by oil and energy industries to provide cover for exploratory diggings, seismic surveys, offshore and onshore construction.

War & Strike Risk Insurance

Usually excluded under a typical marine insurance policy. However, this clause can be included by paying some additional premium and after an assessment of political risk.

Why SecureNow

Deep
Product Knowledge

We have specialized underwriters and tie-ups with international experts.

Cost-effective
Insurance

We work with all insurers to get you the best options- both in terms of price and features.

Quick Turnaround

Cover notes are issued within hours of request. This documentation is sufficient for any contractual requirement.

Strong Claim
Support

We manage all aspects of your claim - from preparing documentation to follow-up with the insurer.

Value Added
Services

We will advice you on risk management best practices.

Policy Administration
System (PAM)

See all your contracts renewal information in one place. Place service requests on PAM.

PROPOSAL FORMS
CLAIM FORMS
POLICY WORDINGS
NETWORK HOSPITAL LIST

FAQs

Owners of any kind of vessels and bankers generally go for hull insurance policy.

Marine hull insurance can be purchased online. There are various hull insurance brokers. Go for a policy that offers optimum cover at an affordable premium rate.

The premium amount is typically determined by the following factors, although not limited to these-
  • Type of vessel
  • Past claim settlement
  • Valuation of vessel
  • Nature of the policy
  • Size of the fleet etc.

Accident or damage of vessel caused by earthquakes, volcanic eruption and lightning are covered under the policy. However, damage of fishing vessels in a sea storm after the issue of warning is not covered by the policy.

This is an inclusion of hull marine insurance that is applicable to business owners who give vessels on hire. If a vessel damaged while given on charter, the policy covers loss of hire suffered by the ship owner.

Yes,all kind of damages of the vessel, machinery and equipment is covered by the marine hull insurance policy.

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