Marine Hull / Machinery / Aviation Insurance

Insurance against risks connected with navigation to which a ship or other insurable interest in movable property may be exposed during a certain voyage or for a fixed period of time. Two types of marine hull insurance are as follows:

  1. Voyage policy - covers the vessel for a particular voyage
  2. Time policy - covers the vessel for a period of time, usually 12 months

Perils Covered:

  1. Perils of the seas, rivers, lakes, or other navigable waters
  2. Fire, explosion - "explosion" as intended by the policy covers not only explosion on-board the ship but explosions elsewhere as well
  3. Violent theft by persons from outside the vessel
  4. Jettison
  5. Piracy (similar to violent theft)
  6. Breakdown of or accident to nuclear installation or reactors - these refer to machinery installed in the ship as part of its propulsion mechanism
  7. Contact with aircraft or similar objects falling therefrom, land conveyance, deck or harbor equipment or installation
  8. Earthquake, volcanic eruption, lightning

The loss of or damage to the subject matter of this insurance caused by the following perils is likewise covered (provided that such loss or damage does not result from the lack of due diligence by the assured, owners or managers of the vessel):

  1. Accidents in loading, discharging or shifting cargo or fuel;
  2. Bursting of boilers, breakage of shafts or any latent defect in the machinery of hull;
  3. Negligence of the master, officers, crew or pilots;
  4. Negligence of repairers, provided such repairers are not an assured under the policy; and,
  5. Barratry of master, officers or crew.

The phrase "loss of or damage to" refers to total loss, constructive total loss, particular average. "Loss of" means either total loss or constructive total loss of the vessel, whilst "damage to" pertains to particular average or partial losses.


This product is being provided by BDO Insurance Brokers, Inc. (BDOI), a subsidiary of BDO Unibank, Inc. BDOI is a regulated entity supervised by the Insurance Commission, and provides insurance brokerage service to clients who wish to secure insurance products issued by a separate accredited insurance provider.

This product is not insured by the Philippine Deposit Insurance Corporation and is not guaranteed by BDO Unibank, Inc.


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