Hulls

Our experience has led us to conclude that, in this group of insurance policies, the most common one is maritime insurance, which has led us to develop this type of insurance more extensively.

When we speak of Hull Insurance, we need to make three subdivisions, according to the type of hull:

> Maritime hull insurance: service vessels or vessels transporting goods or passengers.

> Land hull insurance: for rolling stock, either road or rail.

> Air hull insurance: service aircraft or aircraft transporting goods or passengers.

Like "Aircraft" or "Recreational vessels" this is a variation of the Transport group, with a highly specific objective:

> Coverage of the vessel: damage to own property

> Civil liability coverage: damage to third parties

In practice, the coverage is conditioned by the inclusion of special clauses intended to adapt the scope of the same to the needs of the owner of the vessel and international regulations.

To a great extent, this type of coverage adheres to the guidelines of Lloyd's, as the main traditional inspiration and expert on risks of this nature.

As basic factors to be considered when estimating risk, the particular circumstances of the vessel must be taken into account:

> The vessel itself: year of construction, business or traffic it is used for, tonnage, owner of the vessel, insurance history (insurer and claims made), hull material, type of fuel or type of motors.

> Setting: classification, home port, navigation area or routes.

With regard to the time-scale of the coverage, it must be taken into account that the guarantees of the insurance must cover both active service and stoppages, including hauling out and launching, both in and out of the water.

The terms for maritime hull coverage are similar to those for land and air hull coverage.

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