Increased Value and Freight Interest Insurance

A special extension to a Hull & Machinery policy, Increased Value and Freight Interest Insurance covers ships declared a complete and total loss. It protects against a loss of income with an insured sum of about 20% of the value of the hull and machinery.

What’s covered?

Ideal when you want to insure the full value or mortgage value of a vessel, or the extra costs involved in the total loss of a ship, it covers:

• The complete and total loss of the insured vessel as declared by a Hull & Machinery insurance policy, which isn’t covered under Loss Of Hire Insurance