Increased Value (IV)
Please note: The information is a general description. For full conditions, premiums, subjects, and warranties, please contact your team Underwriter.
Increased Value (IV) Insurance or Hull Interest Insurance
Increased Value (IV) Insurance or Hull Interest Insurance is a property insurance that insures the full value, or mortgage value, of a vessel and/or the additional costs of replacing a vessel if it is a total loss.
Who can be covered?
Shipowners
Limits
Standard limit up to USD 50 million per event (higher limits on request)
Deductibles
None
Important exclusions
- War – War Hull Interest can be purchased separately.
- Claims not covered under H&M.
Freight Interest Insurance
Freight Interest Insurance is property cover which is used to ensure that the full value, or mortgage value, of a vessel and/or the additional costs of replacing a vessel are covered if it is a total loss.
Who can be covered?
Shipowners
Limits
Standard limit up to USD 50 million per event (higher limits on request)
Deductibles
None
Important exclusions
- War – War Freight Interest can be purchased separately.
- Claims not covered under H&M.
Freight All Risk Cover
A loss of earnings insurance, Freight All Risk Cover will protect the shipowner or charterer against loss of freight payment.
Who can be covered?
- Shipowners
- Charterers
Limits
Standard limit up to USD 40 million per event (higher limits on request)
Deductibles
No deductibles
Important exclusions
- War – separate War Insurance is available.