Marine Hull & Machinery Insurance
Perhaps there is no owner who would send his vessel on a voyage without being sure that the risks of loss of or damage to his vessel are covered. Hull and machinery (H&M) insurance provides the protection for the vessel and its machinery. A vessel on the water is an object of a variety situations which can result damage or complete loss of the vessel and its machinery.
The risks which can be insured may be caused by heavy weather (storm, hurricane, etc.) or crew error, or by the third parties. The last ones may not have malicious intent, for example, navigation mistakes by another vessels’ crew or port’ authority.
In other cases damage caused by the third party may be connected with deliberate acts of vandalism, piracy attacks or hostilities.
We offer the insurance for merchant fleet of any type, including special purpose vessels such as tugs, dredgers, etc. Our target group is small and medium vessels.
H&M policy covers loss of or damage incurred by the Assured up to the sum insured in respect of the following:
- Hull, machinery, equipment, appurtenances and intstallations
- Salvage and Salvage charges;
- General average contribution;
- Sue and labour;
- Proportion of Liability for collision;
- Loss of Hire
What do we offer?
We offer H&M coverage similar to ITC Cl.280 and based on the principle of “named perils” which are well known to shipowners.
There are three sets of basic conditions:
- Loss and damage
- Total Loss and General Average
- Total loss only
А shipowner may ask for additional coverage such as:
- Collision Liability
- War risks
- Strikes risks
- Small General Average
- Loss of hire
We have wide experience in H&M insurance and offer reliable solutions for minimizing possible hull and machinery damage risks. We have strong relationships with major insurance companies to reinsure our customer’s risks. Good prices, fast decisions and maximum attention to each of our customers’ request are guaranteed.
Please fill our Marine Hull Application form to get quotes or contact us email@example.com