Marine Hull Insurance
Things to do in case of Marine Hull Insurance compensation
| 1. | In the event of a claim, you must notify the following telephone number immediately (if any). | ||
| Claim Hot Line – 09 940777888 | |||
| 2. | Attach the following documents along with the Marine Hull Insurance claim form
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Frequently Asked Questions
What is the sum insured for Marine Hull Insurance?
The value of vessel is defined as the sum insured for Marine Hull Insurance.
What is the insurance period for Marine Hull Insurance?
The periods for Marine Hull insurance are One Shipment (Voyage) or 1 year (Time).
How the premium for Marine Hull Insurance is calculated?
The premium for Marine Hull Insurance are calculated as follow –
(1) for Iron-Hull (Overseas/ Inland) a minimum 1% to a maximum 3% and
(2) for Wooden Hull a minimum 1.4% to a maximum 2% of the sum insured.
What kind of insurance is the Marine Hull Insurance?
This class of insurance compensates for losses of or the accidental damages on a vessel’s hull, machinery, and equipment of the inland water vessels, ocean-going vessels and the fishing vessels sailing along the inland, ocean or coast.
Who can buy Marine Hull Insurance?
Owner or Renter can buy Marine Hull Insurance.
Is the life span of the vessel limited in Marine Hull Insurance?
For vessels ageing over 20 years, 10% of premium will be charged as an additional premium.
How the premium for Iron-Hull Inland River (Overseas/ Inland) (General Cargo and Fuel) are calculated?
The premium for Iron-Hull Inland River (Overseas/ Inland) (General Cargo and Fuel) are calculated from a minimum of 1% to a maximum of 2.6% of sum insured.
How the premium for Iron-Hull Coastal (Overseas/ Inland) (General Cargo and Fuel/ Fishing) are calculated?
The premium for Iron-Hull Coastal (Overseas/ Inland) (General Cargo and Fuel/ Fishing) are calculated from a minimum of 1.4% to a maximum of 3% of sum insured.
How the premiums for Wooden Hull Coastal (General Cargo and Fishing) are calculated?
The premiums for Wooden Hull Coastal (General Cargo and Fishing) are calculated from a minimum of 1.80% to a maximum of 2% of sum insured.
What are the benefits of Marine Hull Insurance?
The benefits of Marine Hull Insurance are perils of the seas, river lakes or other navigable waters, fire, explosion, piracy, accidents in loading, discharging or shifting cargo or fuel, negligence of master, officer or crews in case of loss or damage covered.
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