Marine Hull Policy
Highlights
Covers any loss or damage to ships, tankers, bulk carriers, smaller vessels, fishing boats and sailing vessels.
Who can take the Policy?
Shipowners, charterers, Shipbuilders, bankers, financiers of Ships or vessels who have Insurable interest.
What is covered?
• All types of Oceangoing vessels
• All type of Coastal/Inland vessels
• Yard and pleasure Crafts
• Port Crafts
• Shipbuilding- construction of vessel
• Ship Repairers' Liabilities
• Charterers Liabilities
• Breaches of warranties / voyage cover
• Freight- at -Risks insurance for voyages
• Dredgers
• Fishing vessels / Trawlers
• Sailing Vessels
• Jetties ( with or without cranes ), fixed pontoons/Pontoons Jetties, wharves etc.
• Shipbreaking
SCOPE OF INSURANCE COVER :
All risks relating to Vessels, Floating Dry Docks, Jetties and Shipowners' Interests including Hull & Machinery (H & M), Freight, Disbursements, Increased Value, Premium Reducing, Excess Liabilities, Protection and Indemnity (P & I) Liabilities, Charterers' Liabilities, Charterers' Freight, Charterers' Hire and/or Disbursments, General Average Disbursments, Ship Repairers' Liabilities, Shipbuilding Risks, Shipbreaking Risks and other allied interests of whatsoever nature required to be insured in India.
Perils / Risks
The policy covers perils of the seas, rivers, lakes or other navigable waters loss/damage to the property insured caused by :
• Fire, explosion
• Stranding, sinking etc.
• Overturning, derailment ( of land conveyance )
• Violent theft by persons outside the vessel.
• Collision
• General average sacrifice, sacrifice, salvage charges
• Jettisons
• Piracy
• Breakdown of or accident to nuclear installations or reactors
• Contact with aircraft or similar objects, or objects falling therefrom, land conveyance , dock or harbour equipment or installation.
• Earthquake volcanic eruption or lightning.
• Crew Negligence.
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