Marine Hull & Machinery

Hull and machinery insurance is a type of ocean marine insurance, which protects the insured vessel or fleet against physical damage caused by a peril of the sea or other covered perils while the vessel is in transit over water.

Although the most commonly insured vessels are those operating in the ocean or the sea, hull and machinery insurance can cover vessels that work in any kind of waterway, such as tugboats, barges, floating machinery, and even oil rigs which operate in coastal areas. Besides that, hull underwriters will not hesitate to insure non-propelled objects, which may occasionally move such as floating docks, buoys, transshipment barges. Hull and machinery insurance policies can be written to cover a single vessel or the whole fleet of a ship owner.