Hull and Machinery insurance covers the cost of repairing loss or damage to a vessel, compensation for the loss, expenses to prevent loss, collision liability, and claim expenses. It can also include cover for war and strikes.
What’s covered?
Usually arranged separately from the ship’s Hull & Machinery insurance, this cover can be extended to include War Protection and Indemnity Risks:
- Can include trade to Lloyd’s of London’s ‘excluded’ areas via a special agreement
- Covers loss or damage caused by an act of war
- Includes civil war, revolution, rebellion, riot, hijacking or detention, all usually excluded from standard Hull & Machinery cover
- Includes loss or damage caused by strikes, labour unrest, and disturbances related to or connected with them