Hull and machinery insurance


Produced in partnership with Andrew Leung, Mark Stiggelbout and Nichola Warrender KC of Quadrant Chambers.
Practice notes

Hull and machinery insurance


Produced in partnership with Andrew Leung, Mark Stiggelbout and Nichola Warrender KC of Quadrant Chambers.

Practice notes
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What is hull and machinery insurance?

Hull and machinery insurance (‘H&M insurance’) is a form of insurance which covers the insured against the risk of physical damage to the vessel, her machinery and equipment caused by a peril of the seas or other specified perils while she is in the water. It interacts with protection and indemnity insurance (‘P&I insurance’) in the areas of collision liability and liability for contact damage to third party property. In addition to basic H&M insurance, there is a number of sub-categories of insurance which can be taken out in order to protect the insureds' interest in the vessel as an asset, such as war risks, increased value (IV) and loss of hire (‘LOH’).

For more information concerning war risks insurance, see Practice Note: Marine war risks.

The insured

There may be more than one insured under an H&M policy. The insureds may be co-owners of the same vessel or the owner of the vessel and a mortgagee bank (in contrast to the situation in which the

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Jurisdiction(s):
United Kingdom
Related legal acts:
Key definition:
Indemnity insurance definition
What does Indemnity insurance mean?

This is insurance specifically to cover liabilities trustees may incur for breach of trust, legal expenses, and other exposures.

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