The ship itself is a major capital asset. Hull insurance is coverage that protects the owner against physical loss or damage to the ship—its hull, machinery, and equipment—from perils of the sea and other named risks.

Policies typically cover grounding, collision, fire, heavy weather damage, and certain machinery failures. War risks and some other perils are often written separately. The insured value may be agreed in advance. Deductibles and exclusions shape the practical protection.

Claims require prompt notice, surveys, and cooperation with underwriters’ representatives. Hull insurance is distinct from protection and indemnity cover, which addresses liability to third parties. Together they form the core of a shipowner’s risk transfer program.

• Insurance against physical loss or damage to the ship
• Covers hull, machinery, and equipment
• Subject to perils, deductibles, and exclusions
• Separate from liability (P&I) insurance