GlossaryEN1 min readUpdated: Jun 24, 2026

Hull and Machinery Insurance

When a vessel grounds, collides, or suffers machinery failure, Hull and Machinery Insurance (H&M) is the policy that responds.

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Last updated: 24 June 2026Published: 19 June 2025

Source: https://en.wikipedia.org/wiki/Marine_insurance

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Definition & Explanation

When a vessel grounds, collides, or suffers machinery failure, Hull and Machinery Insurance (H&M) is the policy that responds. It covers physical loss or damage to the ship's hull, propulsion systems, and all permanently installed technical equipment, making it one of the core marine insurance products for shipowners and operators. Policies are typically written on an annual basis and include agreed deductibles. War risks, sabotage, and certain operational perils are generally excluded and can be arranged under separate cover. H&M insurance is distinct from Protection and Indemnity (P&I) insurance, which addresses third-party liability, and from cargo insurance, which covers the goods carried.

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