Hull insurance insures a ship against loss or damage through almost all risks. However, special dangers are regularly excluded. Since 2010, the use of the DTV – General German Marine Insurance Conditions 2009 (DTV-ADS 2009) is recommended. Special regulations for hull insurance can be found above all in Sections 54 to 66 DTV-ADS 2009.
What risks are covered by hull insurance?
In principle, the insurer bears all risks to which the insured ship is exposed (so-called all-risk cover). These include, for example, water ingress, ship collisions, fire, earthquakes and theft.
However, there are numerous exceptions to this general all-risk coverage. In particular, the insurer is fully or partially released from his liability for damages if:
- the policyholder is at fault (intentional or grossly negligent)
- the ship was not seaworthy or the damage was caused by dangerous cargo or bulk cargo.
- the damage was caused by wars or piracy.
The DTV-ADS 2009 also mention further cases in which the insurer is exempt from its obligation to pay benefits.
In the event of general average, the insurance contract for hull insurance includes special provisions.
What other foreign insurance conditions may be relevant in practice?
In international practice, there are two other insurance conditions in particular: the Institute Time Clauses (Hulls) and the Norwegian Marine Insurance Plan.
A decisive difference between the German and English insurance conditions is the liability in case of own fault.
Under German law, the case where the captain is responsible for the damage is not included in the insurance coverage. Under German law, the captain represents the policyholder, so that the exclusion of damage caused by his own fault is effective.
In English law, on the other hand, there is no such representative function of the captain. The insurance covers the damage even if the captain is at fault.
How is marine hull insurance different from marine hull insurance?
Hull insurance is another term for marine hull insurance, which refers to a seagoing vessel. Hull insurance refers exclusively to seagoing vessels, whereas the term hull insurance can refer to both seagoing vessels and inland vessels. However, the contents of the insurances do not differ.