Marine insurance policy is specially designed for ship damage expenses and the Hull refrences the main body of the ship. In general, Insurance covers several aspects of a ship, including interests of a ship-owner, charterer, ship builder, ship breaker, and ship repairer. Marine hull insurance focuses and limited to the Hull & Machinery part, which insures everything owned by the ship's owner, including the body of the ship, machinery, tackle, boats, fittings, equipment, bunkers, engine stores, stores and provisions for the officers and crew. The scope of the insurance policy may vary from insurer to insurer.
The concept of insurance and risk management go hand-in-hand: Insurance is complementary to risk management, but risk management is crucial to insurance.
Mainly the Marine Cargo and Hull insurance Covers the following
The Following Damages are not covered under Marine Cargo and Hull insurance
