Hull & Machinery Insurance provides limited or comprehensive insurance for loss or damage to vessel against loss or physical damage. Coverage extends to all equipment that is mounted on the boat or used to operate it safely. Such equipment includes horns, lights, dinghies, boat & motor covers, signaling devices, depth finders, ship to shore radios, and boat furniture. Most policies also extend coverage to trailers that are designed for and used to transport the boat.

Collision & Legal Liabilities covers damage where an insured is legally obligated to pay arising out of the ownership or use of a covered vessel.  

Boats can be insured for an agreed value amount, or, on an actual cash value (market value) basis. Engines are usually insured for replacement cost. 

Perils covered are Losses and/or damages caused by;

• Perils of the seas, rivers, lakes or other navigable waters.
• Fire, jettison and piracy.
• Contact with dock or harbor, land conveyance.
• Explosions.
• Malicious acts.
• Theft of the entire vessel or her boat(s) or outboard motor(s).
• Latent detects in hull or machinery.
• Loss or damage to any other vessel or property.
• Loss of life, personal injury or illness.
• Removal or destruction of wreck

The following extensions can also be considered on request but, subject to additional premium and at terms and conditions agreed;

• Outboard motor dropping off or falling overboard.
• Personal effects.
• Liability to or incurred by any person engaged in water skiing or similar activities.
• War and strikes risks.
• Machinery damage.
• Inland transit risks.

Premiums are based on age, construction, navigation equipments, purpose of usage [private or commercial], passenger capacity, previous loss history etc.