Marine Hull insurance
A marine vessel is usually insured under a marine hull policy as per the Institute Time clauses Hulls. Under this clause, hull and machinery are insured against a wide range of perils which include:

• Perils of the seas or other navigable waters
• Fire, explosion
• Violent theft by persons from outside the vessel
• Jettison
• Piracy
• Collision
• Earthquake, volcanic eruption or lightning

In addition, collision liability is also covered.