Hull & Machinery

Hull and Machinery: 

Hull and Machinery commonly referred to as “H&M” or simply “Hull” is a type of ocean marine insurance that covers physical damage to a vessel.   Several types of coverages are available:

Full conditions – For newer IACS classed vessels full hull and machinery conditions is available.   Perils covered  include all risk including engine breakdown.

Partial losses – On older vessels in good condition and in class, we can obtain cover including partial hull losses for specific named perils free of particular average except for Fire and/or Lightening and/or Explosion and/or Stranding and/or Grounding and/or Collision and/or Contact of the vessel with any external object other than water. Excluding Collision Liability absolutely. Machinery is excluded.

Total loss – and when  the cost of the  repairs to the hull  (excluding engine damage) exceeds the limit of insurance on the policy, the underwriters may pay the full amount insureds less either the salvage value  or a buy back  by the vessel owners for an amount agreed upon between the underwriters and the owners.

Absolute total loss – where the vessel is lost and cannot be raised or physically recovered policy limit is paid to insured.

The Typical P&I Policy Covers...
  • Loss of life, injury and sickness of crew, passengers and third parties, except for liabilities under statutory compensation acts such as USL&H, Jones Act or state Workers’ Compensation
  • Damage to cargo on board the vessel
  • Damage to piers, docks, jetties and other fixed floating objects
  • Wreck removal costs
  • Collision liability
Features & Benefits...
  • Coverage available for a wide range of risks, including brown water vessels
  • Limits among the highest in the industry
  • Flexible programs, tailored for client needs
  • Underwriting, claims, recovery, loss control and risk management services provided by marine specialists throughout the world Coverage
  • Hull and Machinery coverage
  • Protection and Indemnity coverage
  • War Risk, Political Risk and Builder’s Risk coverage available upon request

Contact Darlow Marine Insurance

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