Marine Hull

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.

The policy can cover vessels that use inland waterways, against a wide range of risks such as Collision or Piracy, Removal or Destruction of wrecks etc. The sinking of a ship can also be covered.

An individual has the flexibility to buy Marine Hull insurance to protect his / her ship or yacht either for a Specific journey, or for a Specific period of time irrespective of its voyages, which is usually 12 months. Further the coverage to a vessel in dry docks is also available and can also be extended to Damage to other boats caused by the insured vessel is also available under hull insurance.

Add on Cover
  • Terrorism
  • Business interruption
  • Third-party property damage or bodily injury
  • Removal of debris
  • Damage due to war, strike, riot and civil commotion
Protection and Indemnity (P&I):

Protection and Indemnity (P&I) insurance is liability coverage for watercraft. It protects the insured from Liabilities, Bodily Injury, or Property Damage arising out of the use or ownership of declared vessels.

The typical P&I policy covers:
  • Loss of life, injury and sickness of crew, passengers and third parties, except for liabilities under statutory compensation acts such as USL&H, Jones Act or state Workers' Compensation
  • Damage to cargo on board the vessel
  • Damage to piers, docks, jetties and other fixed floating objects
  • Wreck removal costs
  • Collision liability
Kidnap & Ransom for Vessel:

Marine kidnap for ransom & hijacking are the prominent threats to shipowners’ vessels and the crew who serve on them. Proper management against kidnapping or hijacking for ransom is essential to protect the life and well-being of the crew along with the assets on board.

The policy indemnifies against the Financial Loss that can arise when the crew or vessel is seized or detained for ransom. It further protects a shipowner against various costs associated that may not be covered under other insurance policy.

Key Coverages:
  • In transit loss of ransom money
  • Legal liability cost
  • Additional expenses incurred (but not limited to death and injury to crew members)