Hull & Machinery Insurance: what to consider
Hull and machinery insurance focuses on the ship itself. A grounding, engine casualty or collision can leave an owner facing repairs, survey costs and operational disruption. The starting point is an agreed vessel value and a clear description of the machinery, equipment and trading activity to be insured.
Match the insured value to the vessel
An asking price, finance balance and agreed insurance value may differ. Supply a recent valuation, purchase information and details of major upgrades so the quotation can identify the insured basis. Check whether separately owned equipment, spare parts or additional interests need to be scheduled.
Repair exposure and machinery condition
Engine type, maintenance history, class recommendations, dry-docking and the availability of replacement components help explain repair exposure. Disclose known defects and overdue work. A deductible applies according to the wording; routine servicing is not the same as a recoverable machinery casualty.
Cover to discuss for Hull & Machinery
- Accidental physical loss or damage from the perils specified in the hull wording.
- Machinery damage, grounding and collision exposures, with the agreed deductible.
- Salvage, general average or related expenses where included in the contract.
Limits, exclusions and related cover
Wear, gradual deterioration and routine maintenance should not be assumed covered. Collision liabilities must be coordinated with P&I. War perils and income lost while repairs take place may require separate war-risk and loss-of-hire insurance.
Prepare your Hull & Machinery enquiry
- Vessel name, IMO, flag, class, year built and insured value.
- Machinery specification, maintenance records and latest survey recommendations.
- Ownership, management, trading limits and five-year loss record.
Start your Hull & Machinery application and save the information securely. For an existing incident, use the Claims Centre and follow the reporting requirements in your policy.
Hull & Machinery pricing and quotation
Instant indicative estimate: 1% of insured vessel value per year. No prior approval is needed to use the calculator or start an application. Final cover and premium are confirmed through underwriting.
Indicative premium estimate only. Final premium and coverage are subject to underwriting approval, vessel specifications, route, claims history, policy limits, deductibles, capacity availability and final policy terms.
Calculate Hull & Machinery PremiumRelated insurance for this exposure
- Protection & Indemnity — Marine liability enquiries for shipowners and operators, tailored to their operations.
- Loss of Hire — Consider protection for revenue interruption following an insured vessel event.
- Fleet Insurance — Coordinate multiple vessels within a marine insurance programme.
Further reading: Hull & Machinery Insurance: Complete Guide for Vessel Owners
Industry reading
These independent resources explain industry concepts; they do not establish a partnership or the terms of a MarineEnergyCover quotation.
Page updated . Specific cover is determined by the agreed policy wording and binding confirmation.