Deductible cover for Hull & Machinery
Up to 80 % of all claims fall within the deductible of your hull policy. We take on exactly that part, so your liquidity stays in your company.
The expensive claims are insured. The frequent ones are not.
Machinery damage is by far the most frequent cause of loss in commercial shipping, and repair costs for propeller and machinery have roughly doubled since the pandemic. Damage that used to count as minor now lands squarely in the 30,000 to 100,000 euro range, and therefore entirely within your deductible. The rare million-dollar casualty shapes the public picture. Your accounts are shaped by the many small ones.
Three layers, one closed gap.
The deductible cover sits exclusively in the deductible corridor of your hull and machinery policy. It is an addition, never a replacement.
Your excess
You keep a small excess of your own. Everything above it is taken over.
The deductible cover
It pays the corridor between your small excess and the original deductible of your hull policy.
Your hull policy
It responds unchanged above the original deductible. Nothing about your main cover is touched.
A 40,000 euro machinery claim, with a 50,000 euro deductible.
Without deductible cover: your hull underwriter pays nothing. The full 40,000 euros leave your account, in a single payment, at a moment you did not choose.
With deductible cover: the claim is settled within the corridor. Your liquidity stays where it is needed, in the operation of your fleet.
Building blocks we combine as needed.
Every fleet carries a different exposure. These modules are added where they earn their place, not by default.
Electronics
Navigation and communication equipment, from ECDIS to radar, insured at replacement value.
Equipment and spares
Gear, spare parts and equipment on board and ashore, including transport.
First loss cover
A defined sum insured for the losses that do not fit any standard clause.
Third party liability
Liability exposure around the vessel, coordinated with your existing programme.
Let us talk about your deductible gap.
A non-binding fleet review shows how much uncovered deductible your fleet really carries. Personal, discreet, from Hamburg.