{"id":220272,"date":"2021-09-17T00:31:17","date_gmt":"2021-09-16T18:01:17","guid":{"rendered":"https:\/\/ayasompo.com\/elementskit-content\/dynamic-content-widget-179a148-6\/"},"modified":"2021-09-17T00:32:53","modified_gmt":"2021-09-16T18:02:53","slug":"dynamic-content-widget-179a148-6","status":"publish","type":"elementskit_content","link":"https:\/\/ayasompo.com\/en\/elementskit-content\/dynamic-content-widget-179a148-6\/","title":{"rendered":"dynamic-content-widget-179a148-6"},"content":{"rendered":"
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1. What are the types of Marine Hull Insurance?<\/strong><\/p>

Ans: There are 2 types of Hull<\/p>

(1) Steel Hull<\/p>

(2)Wooden Hull<\/p>

2. What are the premium ratings of Marine Hull Insurance?<\/strong><\/p>
Steel Hull \u2013 Premium Rating (All Risk)<\/td><\/tr>
No<\/td>Type of Vessel<\/td>Type of Cargo<\/td>Premium Rating<\/td><\/tr>
1<\/td>Inland<\/td>General Cargo<\/td>2.0%<\/td><\/tr>
Dangerous Cargo<\/td>2.4%<\/td><\/tr>
2<\/td>Coastal<\/td>General Cargo<\/td>2.4%<\/td><\/tr>
Dangerous Cargo<\/td>3.0%<\/td><\/tr><\/tbody><\/table>
Steel Hull \u2013 Premium Rating (Total Loss)<\/td><\/tr>
No<\/td>Type of Vessel<\/td>Type of Cargo<\/td>Premium Rating<\/td><\/tr>
1<\/td>Inland<\/td>General Cargo<\/td>1.0%<\/td><\/tr>
Dangerous Cargo<\/td>1.2%<\/td><\/tr>
2<\/td>Coastal<\/td>General Cargo<\/td>1.4%<\/td><\/tr>
Dangerous Cargo<\/td>1.6%<\/td><\/tr><\/tbody><\/table>
Wooden Hull \u2013 Premium Rating (Total Loss)<\/td><\/tr>
No<\/td>Type of Vessel<\/td>Type of Cargo<\/td>Premium Rating<\/td><\/tr>
1<\/td>Coastal<\/td>General Cargo<\/td>2.0%<\/td><\/tr>
Fishing<\/td>2.0%<\/td><\/tr><\/tbody><\/table>

3. Can Marine Hull Insurance be purchased for short periods? What are the ratings?<\/strong><\/p>

Ans: Marine Hull Insurance can be purchased for short periods.<\/p>
Period of Cover<\/td>Premium Rate<\/td>Policy Type<\/td><\/tr>
Under 15 days<\/td>1\/12 of one year premium<\/td>Voyage<\/td><\/tr>
1 month<\/td>2\/12 of one year premium<\/td>Time<\/td><\/tr>
2 month<\/td>3\/12 of one year premium<\/td>Time<\/td><\/tr>
3 month<\/td>4\/12 of one year premium<\/td>Time<\/td><\/tr>
4 month<\/td>5\/12 of one year premium<\/td>Time<\/td><\/tr>
5 month<\/td>6\/12 of one year premium<\/td>Time<\/td><\/tr>
6 month<\/td>7\/12 of one year premium<\/td>Time<\/td><\/tr>
Above 6 month<\/td>One year premium<\/td>Time<\/td><\/tr><\/tbody><\/table>

4. Can the Fiberglass type of hull be insured in Marine Hull Insurance?<\/strong><\/p>

Ans: Yes, Fiberglass type of hull can be insured in Marine Hull Insurance with Wooden Hull ratings.<\/p>

5. Does hull insurance give all risk cover for steel and wooden hull?<\/strong><\/p>

Ans: The policy provides all risk cover & total loss cover for steel hull and total loss only for wooden hull. (Only inland vessels can be insured)<\/p>

6. How do we define total loss in hull insurance?<\/strong><\/p>

Ans: There are two types of Total Loss; actual total loss and constructive total loss.
The Actual total loss means the insured vessel that is completely damaged or lost and irretrievable as a result of perils, under this circumstances that the insured is entitled to recover the full amount of the loss from the insurer.
Constructive total loss occurs in the case of damage to a ship that the cost of repairing for the damage is exceeded than the market value of the ship if repaired. If the expenditure of the repairs or replacement for the ship is above 90%, we will assume as a constructive total loss, and may claim for a total loss of vessel.<\/p>

7. Can a vessel under a charter be insured for Hull Insurance Policy?<\/strong><\/p>

Ans: Yes, a vessel under a charter can be insured if the charter party is provided.<\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<\/div>","protected":false},"author":0,"parent":0,"template":"elementor_canvas","class_list":["post-220272","elementskit_content","type-elementskit_content","status-publish","hentry"],"yoast_head":"\ndynamic-content-widget-179a148-6 - AYA SOMPO Insurance<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/ayasompo.com\/en\/elementskit-content\/dynamic-content-widget-179a148-6\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"dynamic-content-widget-179a148-6 - AYA SOMPO Insurance\" \/>\n<meta property=\"og:description\" content=\"1. 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