Hull - Increased Value

Additional indemnity is provided to that provided for under the insured’s hull and machinery policy following total loss of the vessel.

What we offer

Value over and above that covered under the hull and machinery policy in the event of total loss. Coverage would not usually exceed 25% of the value stated in the hull and machinery policy. All subject to the terms and conditions of the actual policy.

Up to US $50,000,000

How can we help

Additional amounts covered following total loss of a vessel.

The Beazley Difference

Integrated risk protection package that combines several coverages in just one policy
Affirmative coverage for claims made against an insured which results in bodily injury
Deep product knowledge since we pioneered Virtual Care in 2009
Knowledgeable Underwriters, Wordings Lawyers, and Claims Managers with expertise in all key areas of coverage
Dedicated Beazley Breach Response Services, including breach response management, information security insurance solutions, and risk management services

Examples or Scenarios

A ship’s hull is damaged while being towed in poor weather, triggering a claim for physical damage. Our marine claims team is available around the clock to respond and immediately notifies our in-house marine engineer. Our highly experienced engineer makes contact with the ship owner and assesses the risk remotely and works with the Beazley claims manager to organise a tug to get the damaged ship to safety. Having in-house resources to assess and manage the claim enables us to act swiftly in identifying the cause of loss and managing claims costs and ultimately resolving the client’s claim.