Marine Hull Insurance
Hull & Machinery on Institute Time Clauses, for Maldives-based vessels. One launch or a working fleet.
Cover for the vessel and her machinery
Marine Hull covers physical loss of or damage to a vessel, her engines and her machinery, under the internationally recognised Institute Time Clauses. You choose between comprehensive cover and total loss only.
What can be insured
- Hull
- Engines
- Other machinery and equipment
Types of cover
Total loss only
Pays only if the vessel is an actual or constructive total loss. Narrower cover, at a lower cost.
Comprehensive
Pays for partial damage that can be repaired, above the deductible, and for total loss.
The two types compared
| Cover | Total loss only | Comprehensive |
|---|---|---|
| Total loss, actual or constructive | Covered | Covered |
| Partial loss or damage that can be repaired | Not covered | Covered |
| Salvage, salvage charges and sue and labour | Covered | Covered |
Incidents covered
- Grounding, heavy weather, sinking, capsizing
- Fire, explosion, collision and contact damage
- Machinery breakdown and latent defect
- Crew negligence, and barratry by the master
- Violent theft by persons from outside the vessel
- Piracy
- Jettison
- Earthquake, volcanic eruption or lightning
- Accidents in loading, discharging or shifting cargo or fuel
Optional extensions
- Passenger liability
What is not covered
- War and acts of war
- Nuclear radiation or radioactive contamination
Other exclusions apply, as set out in the policy terms and conditions.
Marine claims are won and lost on the warranties.
Seaworthiness maintained all year, approved tickets for every master, a watchkeeper through the night. We read yours with you before you sign, and again at renewal.
Three things this policy will not do.
- Maintenance, overhaul and wear stay with you
- Crew and passenger injury needs cover of its own
- A vessel under repair earns nothing, and that is your loss
For a quote
Send us seven things.
- A copy of the vessel’s registry
- Separate values for hull, engine, machinery
- Where she is based, and what work she does
- The load line certificate
- The passenger carrying certificate
- The safety certificate
- Recent pictures of the hull
Common questions
- What does marine hull insurance cover?
- Physical loss of or damage to the vessel, her engines and her machinery, under the Institute Time Clauses. Incidents include grounding, heavy weather, sinking, fire, collision, machinery breakdown, crew negligence, piracy and theft by persons from outside the vessel.
- What is the difference between total loss only and comprehensive hull cover?
- Total loss only pays if the vessel is an actual or constructive total loss, and costs less. Comprehensive also pays for partial damage that can be repaired, above the deductible. Both include salvage charges and sue and labour.
- What do I need to insure a boat in the Maldives?
- Seven things: a copy of the vessel’s registry; separate values for hull, engine and machinery; where she is based and what work she does; the load line certificate; the passenger carrying certificate; the safety certificate; and recent pictures of the hull. Crew and passenger injury needs cover of its own.
How to claim
Tell us
Contact our Claims Hotline or email us as soon as a claim arises.
We guide you
We advise you on documentation and communicate with the insurer.
We follow it through
We monitor the claim’s progress and check the settlement is in line with your policy entitlements.
This page is a summary. Cover is subject to the terms, conditions and exclusions of the insurer’s wording, which prevails. Seguro is a broker and arranges cover with the insurer.
