Hull means the insurance of ship. The ship is always at the risk of the perils of the seas and therefore, the ship-owner can insure it against probable losses as such. The subject matter of hull insurance is usually:
Fire, theft, jettison, collision, contact, heavy weather, stranding/ foundering, sinking, General average, Sue and labor charges. The Marine Hull policy may include liability hazards such as collision or running down.
War & Strike Riot Civil Commotion (SRCC)
Premium being determined on a rating subject to age and class of construction of Hull
According to the law the insured is required to pay the Stamp duty of this policy.