Scope of coverThe purpose of hull insurance is to cover ship owners various insurable interests and these include:Hull & Machinery Insurance
Insurance of freight
Builders Risk policy
Loss of hire insurance
Loss of profit Insurance
Policy Details
Sum InsuredIt is an agreed value policy
PremiumThe premium will depend on the following factors:Type of vessel, trading limits, age, tonnage, technical aspects of machinery
Management and ownership considerations
Past claims experience
Valuation of vessel
Type of cover required
Size of the deductible
Back to top Significant ExclusionsThe exclusions will depend upon the type of cover availed and would be governed by Institute Time clauses and Institute Voyage clauses.
Back to top ExcessThe policy will be subject to deductibles, which will depend of the type of cover, availed.
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