Hull & Machinery

Hull & Machinery Insurance

What is Hull & Machinery Insurance Insurance?

Marine Hull and Machinery Insurance provides insurance protection for claims for physical damage caused by a peril of the sea or other covered perils. Although the most commonly insured vessels are those operating in the ocean or at sea, Hull and Machinery Insurance can cover vessels that work in any kind of inland waterway, such as tugboats, barges, floating machinery, and even floating oil rigs which operate in coastal areas. 

Hull and Machinery Insurance can cover a proportion of physical damage claims arising from collision with other vessels known as the Running Down clause or Collision liability.   Collision Liability clause does not apply to legal liability arising out of bodily injury or death, or property damage to fixed installations such as piers, docks and marinas. Cover for this liability is usually covered by a protection and indemnity policy.  

The cover provided for by Hull and machinery policies can vary greatly and is often dependent on the type of vessel being insured. It is important to seek expert advice to ensure that both the vessel itself and the liabilities that may arise from the operation of that vessel are correctly insured.

What types of business need Hull & Machinery Insurance insurance?

Any business that owns or operates a vessel. This varies widely from workboats, fishing vessels, commercial cargo vessels, ferries as well as leisure craft and yachts. 

Is Hull & Machinery Insurance Compulsory?

Entry into ports and marinas will often require evidence that Protection and Indemnity insurance is in place and the documents such as blue cards and MLC certificates that are issued by P&I insurers. 

Where can I get a Hull & Machinery Insurance Quote?

Contact us or call 0203 432 0270 and we will talk you through the options. We have access to a wide variety of different specialist marine insurers so we can find you the right cover for your business at a competitive price