What type of insurance protects against damage to a vessel's hull and machinery?

Hull insurance is specifically designed to protect against damage to a vessel's hull and machinery. This type of insurance is crucial for ship owners and operators as it covers the costs associated with repairing or replacing the physical structure of the vessel in the event of damage.

In maritime insurance, hull insurance typically encompasses various perils that a ship may encounter, including collision, grounding, weather-related incidents, and other marine risks. By having this insurance, vessel owners can ensure that they are financially protected against significant losses that could occur due to unforeseen events.

Cargo insurance, freight insurance, and protection and indemnity serve different purposes. Cargo insurance covers the goods and merchandise being transported on the vessel; freight insurance pertains to the charges for transporting cargo; and protection and indemnity insurance provides liability coverage for legal claims resulting from the vessel's operation. Each of these types of insurance plays a distinct role within the broader framework of marine insurance, but hull insurance is essential for safeguarding the integrity of the vessel itself.