Hull and Machinery
Marine Hull and machinery Insurance covers loss or damage to hull and machinery. The hull is the structure of the vessel which can be made from wood, steel or any other type of materials and equipment such as pulley, crane and steering wheel. Machinery is the equipment that generates the power to move the vessel and control the lighting and temperature system such as boiler, engine, cooler, and electricity generator.
Protection and Indemnity (P&I) insurance is liability coverage for watercraft. It protects the insured from liabilities, from bodily injury, or property damage arising out of the use, or ownership of declared vessels. There are several commonly used protection and indemnity forms and many proprietary forms used for this insurance. Most P&I forms offer payments for loss of life, injury, illness, hospital, and medical expenses.
The typical Protection and Indemnity 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
Types of Vessels:
- Services Vessels
- Semi Submersibles
- ROV’s
- Tug & Barge Fleets
- Research Vessels
- Charter Boats
- Work Boats
- Crane and Deck Barges
- Jack Ups & Pleasure Craft
- Crew Boats
- Dredge Vessels
- Blue Water
Call Accessible Marine Insurance today for all your maritime needs.