Marine Hull: Marine Hull Insurance Covers loss or damage to hull and machinery. The hull is the structure of the vessel. Machinery is the equipment that generates the power to move the vessel and control the lighting and temperature system such as boiler, cooler and electricity generation.
Types of Marine Hull Insurance policy:
Additional Risk Covered on payment of additional premium War and Strike
Ship Builder liability: Ship builder’s policy has 2 section.
Section 1. a) Covers the hull and machinery of the Insured ship.
Section 2. Covers machinery only at the builder’s yard within the construction port (Does not include other parts or materials to be built into the ship.)
Period of cover: Specified period of cover but terminated upon delivery to the owner.
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