Ship insurance

Transport companies sometimes report such heavy river traffic in some areas, so that vessels are at risk of damage as a result of a collision with other boats or fishing boats. At other times, discarded fishing net becomes entangled in the paddles of the underwater propeller, and the vessel has to dock for repairs for days.

Such incidents not only suddenly and unexpectedly increase a company's expenses, but also interrupt the operations, resulting in a number of other significant additional losses. The crews of some Merchant ships are sometimes put in a position to throw over board some of the goods halfway to save the ship, assuming the payment of all emergency repair costs at the next port, which it was not the port of destination. Given the multiple risks of working in this sector, companies prefers to assign liability for such incidents to an insurance company.

Similar to the Casco policy for motor vehicles, this one is the marine insurances, intended for every types of vessels operating in the seas, lakes or rivers, suitable for all categories of operators, from shipowners and carriers, to owners of fishing boats, cruise ships, yachts, jets and jetties. Owners can transfer the risks of damage to an insurance company, but also damage to equipment, destruction of the hull or accessories of a boat.

The insurance policy mainly covers the situation of general damage, destruction of the hull or equipment, some of the liability for collisions, eventual contributions of the ship to rescue expenses. In addition, the inventory of fixed and mobile assets can also be insured.

Hull Insurance is an insurance policy specifically designed to cover expenses incurred because of the ship damage. The hull insurance covers any accessory attached, as a functional part, to the hull of the ship.

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