Marine Hull Insurance

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Marine Hull Insurance

Coverage to water vehicles like a boat, ship, yacht, fishing boat, steamer etc.

This is an insurance against accidents causing damage to the vessel or capsizing. It covers ship owners, operators and those having insurable interest in the same. A hull means the body of the vessel and that is exactly what is covered by this insurance policy.

Risks Covered

Damage to the hull of the ship or vessel, including its machinery and equipment
Damage or loss to the ship due to fire, burglary and/or theft
Accidental damage to the ship due to earthquake, lightning, etc.
Damage done to other boats by the insured vessel (third party liability)
Damage to the vessel during maintenance activity

Exclusions

Normal wear and tear of the hull and machinery
Damage done due to nuclear activity
Radioactive contamination
Damage done by the crew members under the influence of alcohol
Intentional damage to vessel
Damage done to the vessel due to terrorist activities
Involvement in dangerous activities which may lead to hull damage
Sailing the vessel in a storm after issuance of warming
Overloading of goods

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