Types of vessels
There are various type of vessel operating in the global trade, be it a single vessel or a fleet, we provide coverage for both the physical loss and damage to Hull & Machinery and Collision Liability arising out of the ownership and/or operation of vessels and our coverage are based on Institute Hull Clauses of London.
- Pleasure Craft / Yacht
- Ocean going Container Vessels
- Ro-Ro Vessel / Automobile Carriers
- Coastal Trading Vessels
- Work Boats
A standard set of "Institute Time Clauses-Hull" is normally used to cover commercial vessels.
Coverage can range from 'Hull & Machinery' and Total Loss as per institute time clauses depending upon your insurance requirement and risk evaluation. Coverage is on an Agreed Value basis.
- Physical damage to the vessel’s hull, machinery and installed equipment
- Sue and Labour expenses i.e. expenses incurred to avert or minimize a loss
- Vessel’s proportion of general average and salvage charges
- Primary Collision Liability and legal expenses
- Increased value (I.V.)
- War, Strikes and Related Insurances
- Protection & Indemnity Cover
NB:- The above details are for the brief illustration only.
For full information on terms and conditions of insurance, please refer to the policy wording or contact with our technical team by email email@example.com