Marine Hull Insurance

Marine hull insurance policy taken by shipowners, charterers, Shipbuilders, bankers, financiers of Ships or vessels who have Insurable interest.

Perils/Risks covered:

 The policy covers perils of the seas, rivers, lakes or other navigable waters loss/damage to the property insured caused by:
  • Fire, explosion
  • Stranding, sinking etc.
  • Overturning, derailment ( of land conveyance )
  • Violent theft by persons outside the vessel.
  • Collision
  • General average sacrifice, sacrifice, salvage charges
  • Jettisons
  • Piracy
  • Breakdown of or accident to nuclear installations or reactors
  • Contact with aircraft or similar objects, or objects falling therefrom, land conveyance , dock or harbour equipment or installation.
  • Earthquake volcanic eruption or lightning.
  • Crew Negligence.



The policy does not cover loss/ damage due to :

  • Deliberate damage/destruction of the vessel by wrongful act of any person
  • Use of any weapon of war employing atomic / nuclear fission and or fusion.
  • Radioactive Contamination, Chemical, Biochemical, Biological, Electromagnetic Weapons.
  • Insolvency or financial default of the vessel owner /operators /charterers
  • War / civil war, Strike, Riot or Civil Commotion
  • Any terrorist or person acting with political motive

Claim Intimation:

In the event of casualty likely to give rise to a claim

  • Immediate notice to policy issuing office.
  • Giving brief details as to name of vessel, place of occurrence, date & time of casualty, circumstances leading to incident.
  • Seek appointment of surveyor to inspect and assess loss.
  • In case of theft please notify police.
  • In case of fire assistance of fire brigade to extinguish fire.
  • Appointment of adjuster in case of Oceangoing Vessels where necessary.
  • All steps to minimize loss as prudent uninsured.