Hull & Machinery Insurance
Hull & machinery (H&M) is the marine equivalent of physical-damage coverage. It protects the vessel itself — hull, engines, outriggers, and onboard systems — against grounding, collision, storm, fire, sinking, and theft on an agreed-value basis.
Hull & Machinery for Sportfishing Vessels
Your boat is your business. A center console, walkaround, or sportfisher rigged for charter work represents a major capital investment — and a single grounding, hurricane, engine casualty, or marina fire can put you out of work for a season. Hull & machinery insurance covers physical damage to the vessel and its machinery.
H&M is typically written on an agreed-value basis: you and the carrier set the insured value up front, and that is what's paid on a total loss — no depreciation argument after a sinking. The policy covers the hull, inboard or outboard engines, generators, electronics, outriggers, towers, and permanently attached fishing equipment.
Navigation Limits & Lay-Up Periods
Marine hull policies define navigation limits — the waters you're permitted to operate in (for example, "Gulf of Mexico, not more than 100 miles offshore"). Running beyond your stated limits can void coverage, so we set them to match how you actually fish. Many policies also include a lay-up period (typically winter months the boat is hauled or docked), which reduces premium and can extend coverage for named-storm haul-out.
Named-Storm & Hurricane Considerations
Coastal charter operators face real catastrophe exposure. Carriers may require a separate, higher named-windstorm deductible (often a percentage of insured value) and a written hurricane haul-out plan. We help you structure deductibles and storm-plan requirements so a named storm doesn't become an uninsured loss.
What's Covered
Frequently Asked Questions
You and the insurer agree on the vessel's insured value when the policy is written. On a total loss, that agreed amount is paid without a depreciation fight. It's the preferred basis for charter vessels versus 'actual cash value,' which depreciates the payout.
Navigation limits define the waters you're insured to operate in — distance offshore and geographic area. A claim that happens outside your stated limits can be denied, so we set limits to match how far and where you actually run charters.