Marin Hull

MARINE HULL

Protects your vessel for smooth sailing.

What is Marine Hull

It is a plan that provides you with coverage for your vessel during its operation within the specified trading limits.

Why Marine Hull Benefits us are as follows-

Institute Time Clauses (Hull) Comprehensive cover for vessel

Your vessel is covered during operation within specified trading limits.

  • Partial Loss and Total Loss of your vessel.

Institute Time Clauses (Total Loss only)

Your vessel is covered during operation within specified trading limits.

  • Total Loss (Actual Total Loss and Constructive Total Loss) of your vessel caused by:

PERILS at a glance

This insurance covers loss of or damage to the subject-matter insured caused by

  • perils of the inland rivers lakes or other navigable waters.
  • fire, explosion.
  • violent theft by persons from outside the vessel.
  • breakdown of or accident to nuclear installations or reactors.
  • contact with aircraft or similar object, or objects falling therefrom, land conveyance, dock or harbour equipment or installation.
  • earthquake volcanic eruption or lightning.
  • This insurance covers loss of or damage to the subject-matter insured caused by
  • accidents in loading discharging or shifting cargo or fuel
  • bursting of boilers breakage of shafts or any latent defect in the machinery or hull
  • negligence of Master Officers Crew or Pilots
  • negligence of repairers or charterers provided such repairers or charterers are not an Assured hereunder
  • barratry of Master Officers or Crew, provided such loss or damage has not resulted from want of due diligence by the Assured, Owners or
  • Master Officers Crew or Pilots not to be considered Owners within the meaning of this Clause 6 should they hold shares in the

How much is my premium?

Your premium may vary, depending on

  • The type of cover selected
  • Type of your vessels
  • Age of your vessels
  • Any additional cover selected
  • The sum insured
  • Our underwriting requirements

WAR EXCLUSION

In no case shall this insurance cover loss damage liability or expense caused by

  • war civil war revolution rebellion insurrection, or civil strife arising therefrom, or any hostile act by or against a belligerent
  • capture seizure arrest restraint or detainment (barratry and piracy excepted), and the consequences thereof or any attempt
  • derelict mines torpedoes bombs or other derelict weapons of

STRIKES EXCLUSION

In no case shall this insurance cover loss damage liability or expense caused by

  • strikers, locked-out workmen, or persons taking part in labour disturbances, riots or civil commotions.
  • any terrorist or any person acting from a political

MALICIOUS ACTS EXCLUSION

In no case shall this insurance cover loss damage liability or expense arising from

  • the detonation of an
  • any weapon of

and caused by any person acting maliciously or From a political motive.

NUCLEAR EXCLUSION

In no case shall this insurance cover loss damage liability or expense arising from any weapon of war employing atomic or nuclear fission and/or fusion or other like reaction or radioactive force or matter.

CANCELLATION RETURNS

Police(s) may be cancelled allowing prorate monthly return of premium for each un-mommenced month but subject to a minimum retention of 25% of the annual premium.

NOTICE OF CLAIM AND TENDERS

  • In the event of accident whereby loss or damage may result in a claim under this insurance, notice shall be given to the Underwriters prior to survey and also, if the vessel is abroad, to the nearest Lloyd’s Agent so that a surveyor may be appointed to represent the Underwriters should they so
  • The Underwriters shall be entitled to decide the port to which the vessel shall proceed for docking or repair (the actual additional expense of the voyage arising from compliance with the Underwriters’ requirements being refunded to the Assured) and shall have a right of veto concerning a place of repair or a repairing
  • The Underwriters may also take tenders or may require further tenders to be taken for the repair of the vessel. Where such a tender has been  taken  and  a  tender  is  accepted  with  the approval of the Underwriters, an allowance shall be made at the rate of 30% per annum on the insured value for time lost between the despatch of the invitations to tender required by Underwriters and the acceptance of a tender to the extent that such time is lost solely as the result of tenders having been taken and provided that the tender is accepted  without  delay  after receipt o f the Underwriters’

Due credit shall be given against the allowance as above for any amounts recovered in respect of fuel and stores and wages and maintenance of th e Master Officers and Crew or any member thereof, including amounts allowed in general average, and for any amounts recovered from third parties in respect of damages for detention and/or  loss of profit  and/or running expenses, for the period covered by the tender allowance or any part thereof.

Where a part of the cost of the repair of damage other than a fixed deductible is not recoverable from the Underwriters the allowance shall be reduced by a similar proportion.

  • In the event of failure to comply with the conditions of this Clause 10 a deduction of 15% shall be made from the amount of the ascertained