Marine Hull
Providing coverage for loss or damage to the hull and machinery of insured vessels navigating within Myanmar and internationally, caused by maritime risks.
Key Benefits
Comprehensive protection designed for your peace of mind.
Comprehensive Coverage
Protects the costs of damage to the vessel and the machinery and equipment inside it, when operating on water within Myanmar and Southeast Asia Region.
Simple & Efficient
Flexible coverage options available per voyage or under an annual time policy, with simple and effortless processing.
Peace of Mind
Complete reassurance on the water so you can focus entirely on growing your maritime business.
Product Features
Comprehensive coverage options tailored to your needs.
Eligibility
- Anyone who owns or leases an officially registered vessel, or any organization operating one, can get vessel hull insurance.
Policy Term
- Time Policy: Up to 1 year (renewable annually), with short-period options available for less than 12 months.
- Voyage Policy: Coverage active for the duration of a single specified voyage.
Premium Rating
- 1% to 3.5% on sum insured (based on vessel purchase/replacement value
- Subject to
- 1. Vessel condition & age
- 2. Vessel classification and use
- 3. Total sun insured
- 4. Navigational scope/area of voyage
Basic Coverage
- 1. Perils of the sea, rivers, lakes, or other navigable water
- 2. Fire, Explosion
- 3. Violent theft by persons from outside the vessel
- 4. Jettison, Piracy and barratry of master, officers, or crew
- 5. Earthquake, volcanic, eruption or lighting
- 6. Contact with land conveyance, dock/harbor equipment, or external objects
Additional Coverage
- Customer can also buy additional covers by paying additional premium separately.
- 1. War, Strike
- 2. Malicious Acts
- 3. Nuclear Exclusions
Frequently Asked Questions
Common questions about our insurance coverage.
Who should purchase Marine Hull Insurance?
It is designed for shipowners, operators, shipping companies, and businesses involved in maritime transport.
Does it cover the cargo inside the vessel?
No, cargo is typically covered under Marine Cargo Insurance, rather than Hull Insurance.
Are mechanical or electrical failures covered?
Optional coverage is available for machinery breakdown or latent defects, depending on policy terms.
What is “Total Loss” in Marine Hull Insurance?
It refers to a situation when a vessel is completely lost, destroyed, or damaged beyond economical repair.
Can policies be tailored to specific routes or waters?
Yes, coverage can be customized based on geographical regions and voyage plans.