Marine Hull Insurance
We write a portfolio comprising of H&M and P&I war, builders risks, increased value, port property, mortgagees interest and yachts.
In addition to ports and terminals, we can also provide cover for piers, jetties, wharves and marinas. We provide cover for both physical loss / damage and business interruption. These can be written as packages together with the liability. Cover can also be provided for certain non-marine facilities such as port buildings, warehouses, shipyard facilities and the like. We can also provide cover for handling equipment and business interruption.
Furthermore, we have a dedicated in-house binder team to facilitate leading binders.
The team writes marine hull and machinery across a wide range of vessel operations, including but not limited to:
APAC
Capacity $27.5m USD
What we do
- Ocean-going vessels
- Coastal trading vessels
- Offshore vessels
- Builders’ all risks and ship repairer’s liability
- Yachts above USD$5M
- Port property, including piers, jetties, wharves, marinas, port buildings, warehouses and shipyard facilities
UK
Capacity $22m USD
What we do
- Brown-water tonnage
- Offshore supply vessels
- Builders risks
- Tow and voyages
- Mortgagees interest
- Yachts
- Piers, jetties, wharves and marinas
- Port buildings, warehouses, shipyard facilities
US & Bermuda
Capacity $10m USD
What we do
- Commercial fishing
- Tug and barge – coastal, river and green water vessels involved in every kind of cargo movement
- Blue water vessels – tankers, freighters, bulkers and cruise liners
- Dredges
- Dry docks
- Passenger-carrying vessels
- Builders risk insurance
Speak to one of our specialist underwriters – select from the regions below
FAQs
What is Marine Hull Insurance?
Marine Hull Insurance is a specialised type of insurance that covers physical damage to the hull, machinery, and equipment of a ship or boat.
It’s similar to car insurance but tailored for maritime vessels. This insurance protects against risks like collisions, sinking, fire, and natural disasters.
Why do I need Marine Hull insurance?
Marine Hull Insurance is essential for protecting your investment in marine vessels against physical loss or damage, as well as business interruption.
This type of insurance is crucial for mitigating financial risks associated with damage to the vessel’s structure and machinery, which can be substantial.
What is the difference between Marine Insurance and Hull Insurance?
While Marine Insurance is a broad category covering various aspects of maritime activities, including cargo, liability, and hull risks, Marine Hull Insurance specifically focuses on the vessel itself.
It covers the hull and machinery of the ship, offering protection against physical damage and related risks.
What is covered under Marine Hull Insurance?
Canopius’ Marine Hull Insurance covers physical loss or damage to the vessel, including its hull and machinery. It also extends to cover business interruption, builders’ risks, increased value, and mortgagees interest.
Additionally, we provide coverage for non-marine facilities related to marine operations, such as port buildings, warehouses, shipyard facilities, handling equipment, and more.
