Hull Inte­rest Insurance

Hull Inte­rest Insu­rance / Increased Value Insurance

The economic inte­rest of an ocean-going vessel is highly subject to constantly chan­ging market condi­tions. This has an impact on the capital value and the long-term freight inte­rest of the respec­tive vessel.

The event of a total loss or cons­truc­tive total loss may place the shipowner in a posi­tion where the insured hull value is insuf­fi­cient to cover the costs and expenses neces­sary to adequa­tely replace the lost vessel. Secon­dary inte­rest insu­rance closes this gap and enables the shipowner to recover the status quo, taking into account the total ship value or mortgage lending value. This total loss insu­rance also indem­ni­fies if, for example, the contri­bu­tions for general average exceed the hull tax or provide an excess in the event of a colli­sion. In addi­tion, the value of equip­ment or freight can be covered by a secon­dary inte­rest insurance.

We offer cover based on all inter­na­tional custo­mary insu­rance conditions.