Marine Hull insurance

Marine risk scenarios can be incredibly complex. 

Talking to specialist marine risk consultants gives you the confidence to be bold, innovative and responsive to change in the business environment. 

Our philosophy is simple. We are here to serve you, and that means powering your ambitions. 

Howden brokers take the time to get to know individual businesses, vessels, and fleets; taking a hands-on personal approach means we can arrange quality cover at a cost-effective price. 

If you’re building, owning, consulting or operating at sea or on the move, you need an insurance partner with an in-depth understanding of the issues you face, to help you streamline and save.

What is Marine Hull and Machinery Insurance?

Marine Hull and Machinery Insurance protects the insured vessel or fleet against physical damage caused by a peril of the sea or other covered perils while the vessel is in transit over water. Although the most commonly insured vessels are those operating in the ocean or at sea, Hull and Machinery Insurance can cover vessels that work in any kind of waterway, such as tugboats, barges, floating machinery, and even oil rigs which operate in coastal areas. 

Hull and Machinery Insurance policies can be written to cover a single vessel or the whole fleet of a shipowner.  

A very important provision of Hull and Machinery Insurance is the Running Down clause, also referred to as “the Collision Liability” provision. As the name suggests, it protects the vessel owner against legal liability arising from the owner’s vessel colliding with another ship and damaging its property or cargo.  

It is very important to note that the Collision Liability clause does not apply to legal liability arising out of bodily injury or death, or property damage to fixed installations such as piers. If you wish to get insurance against this kind of liability, you will need to purchase Protection and Indemnity coverage.  

Coverage variations and extensions include:

• Limited Terms or Total Loss Only 
• Actual Total Loss to the Vessel 
• Constructive Total Loss to the Vessel 
• General Average Contribution 
• Salvage Award 
• Salvage Charges 
• 3/4th Collision Liability 
• Sue & Labour Charges 

Marine Liability Insurance

There is a range of Marine Liability policy forms, which are designed to cover third-party exposures associated with different marine-related occupations and activities. 

Marine Protection and Indemnity

In basic terms, Protection & Indemnity insurance, or P&I as it is usually known, is a ship operators’ (owner, manager or charterer) insurance cover for legal liabilities to third parties. Third-party risks include a carrier’s liability to a cargo-owner for damage to cargo, a ship’s liability after a collision, environmental pollution and war risk insurance. Find out more about our P&I cover.

In addition to Marine Protection & Indemnity (P&I) Insurance, Howden can arrange for you, on a “specific cover basis”, other Marine Liability insurances such as: 

• Cargo Owners Legal Liability 
• Carriers Legal Liability 
• Charterer’s Legal Liability 
• Marina Operators’ Legal Liability 
• Port & Terminal Operators Legal Liability 
• Ship Repairers’ Legal Liability 
• Stevedores’ Legal Liability 
• Container Liability 
• Marine Contractors Liability 
• Marine Pollution Liability 
• Maritime Employers’ Liability (MEL) 

Quality cover at a cost-effective price

We believe that our role is more than just protecting our clients from risk. As your risk consultants, we exist to empower you to grow your business by removing risk obstacles - the emphasis is always on the quality of cover, ready to stand strong when you need it most. 

Broad global market access

The Howden team has the market knowledge, relationships and broking expertise to cover any marine risk, regardless of size or complexity.

Global programmes

Streamlining your insurance into one global policy can save time, effort and money. Eliminate gaps and contention between contracts and providers by having one clear global view of your risk. 

Skillfully designing insurance wordings

Responsive insurance that helps when you need it most takes careful planning and attention to detail. This is where we excel, keeping all wordings firmly in your favour.

We work with companies ranging from global energy companies to independent contractors.

We create bespoke solutions for:

• Upstream Supply Vessels & Workboats
• Port Authorities & Terminals
• Ocean Going Vessel Operations
• Inland River Tug & Barge Operations
• Dredging / Wet Construction Companies
• Commercial Fishing Operations
• Vessel & Upstream Structure Shipyard Construction
• Commercial and Sport Diving

Contractors we support: 

• Freight Forwarders
• Transporters
• Oilfield Services
• Subsea Services
• Upstream Drilling
• Liftboat Operators
• Diving Operations

Hull & Marine Liabilities for all types of tonnage and exposures

• Hull and machinery 
• Disbursements (increased value, freight etc.)
• Loss of hire
• Charterers’ liability
• Charterers’ default
• Machinery deductible
• Protection and indemnity
• Towage risks

Ports & Terminals a broad range of risks whether liability or physical loss

• Loss of, or damage to, cargo under your care, custody or control
• Third-party liability
• Professional indemnity
• Fines and penalties
• Physical loss of, or damage to, equipment
• Port property
• Business interruption

Mortgagee interests, financial institutions, ship mortgage insurance and financing insurance

• Mortgagees’ interest
• Innocent owners’ insurance
• Lessors’ interest insurance
• Political risks insurance
• Shipyard & Related Risks
• Shipyard and building risks
• Construction liability
• Ship repairers’ liability
• Worldwide delay in delivery

War, Kidnap & Ransom and Political Risks 

• War risks
• Kidnap and ransom
• Confiscation, expropriation and nationalisation
• Credit insurance