H&M (Hull & Machinery insurance)

Advertisements

Hull & Machinery insurance is fundamental protection of a vessel against damage. The vessel, including her machinery and equipment, is insured to her full value and, depending on the chosen cover, the following risks may be indemnified:

Total loss (actual or constructive) or expenses that might be incurred in repairing / replacing damaged parts of hull, machinery and other equipment.

Expenses paid for prevention, minimizing of damages or calculation of loss, in case such expenses are caused by an insured peril.

Vessel gone missing

General Average contribution

Salvage expenses

Apart from the risks abobe Hull & Machinery policy may also include additinal cover, such as:

  1. Increased Value Insurance
  2. Loss of Hire
  3. War Risks
  4. Fuel and Stores onboard
  5. Cash onboard
  6. Running Down Clause
  7. Fixed and Floating Objects