Builders Risk Hull Insurance

AAA

DEFINITION of 'Builders Risk Hull Insurance'

A protection policy pertaining to when a ship is in the builders' hands. Coverage can be all-inclusive, excluding defects and destruction through war. It protects against both pre- and post-launch disasters. Builders can choose a policy which covers the total amount of the finished product (Completed Form), or a policy which is adjusted upwards as work is completed (Reporting Form).

INVESTOPEDIA EXPLAINS 'Builders Risk Hull Insurance'

The hull of a boat is the basic body of the vessel, including any vital appendages. The scope of this insurance coverage extends beyond simply basic damage to the hull, covering some business risk as well. Business Risk Hull Insurance can also be purchased when a boat is in for repairs or during transport of the vessel to and from the owner.

RELATED TERMS
  1. Bottomry

    When the owner of a ship borrows money and uses the ship itself ...
  2. Maritime Law

    A body of laws, conventions and treaties that governs international ...
  3. Insurance Claim

    A formal request to an insurance company asking for a payment ...
  4. Portfolio Insurance

    1. A method of hedging a portfolio of stocks against the market ...
  5. Premium

    1. The total cost of an option. 2. The difference between the ...
  6. Hazard Insurance

    Insurance that protects a property owner against damage caused ...
RELATED FAQS
  1. What are the restrictions for naming a given individual as my contingent beneficiary?

    Life insurance is an important part of estate planning. It allows you to ensure that you can financially take care of the ... Read Full Answer >>
  2. What debt/equity ratio is typical for companies in the insurance sector?

    The debt-to-equity ratio is calculated by dividing total liabilities by total equity, and it is used to measure leverage. ... Read Full Answer >>
  3. How does the risk of investing in the insurance sector compare to the broader market?

    Due to economic, demographic and interest rate trends, there is less risk when investing in the insurance sector compared ... Read Full Answer >>
  4. What is the main business model for insurance companies?

    Insurance companies base their business models around assuming and diversifying risk. The essential insurance model involves ... Read Full Answer >>
  5. What are the most popular mutual funds that invest primarily in the insurance sector?

    Under the purview of the financial services industry, the insurance sector is an attractive investment option for mutual ... Read Full Answer >>
  6. What economic indicators are important to monitor when investing in the insurance ...

    Inflation and interest rates are the best economic indicators to monitor when investing in the insurance sector. Unlike with ... Read Full Answer >>
Related Articles
  1. Insurance

    Understanding Your Insurance Contract

    Learn how to read one of the most important documents you own.
  2. Home & Auto

    The History Of Insurance In America

    Insurance was a latecomer to the American landscape, largely due to the country's unknown risks.
  3. Active Trading Fundamentals

    Using Logic To Examine Risk

    Know your odds before you put your money on the table.
  4. Professionals

    Indexed Universal Life Policies: Watch These Risks

    By properly vetting indexed universal life policies, advisors and savers can avoid contracts that could prove overly costly over the long run.
  5. Professionals

    Obamacare: Can it Be Repealed?

    Attempting to repeal Obamacare is a yearly ritual for House Republicans, but trying again in 2016 or beyond could create more problems than it solves.
  6. Professionals

    An Advisor's Guide to Prof. Liability Insurance

    A guide to what financial advisors need to know about professional liability insurance.
  7. Insurance

    India's Two-Child Policy

    As of 2014, 11 Indian states have passed laws to restrict Indian citizens from having no more than two children.
  8. Economics

    What Does Asymmetric Information Mean?

    Asymmetric information describes a situation where one party in a transaction knows more than the other.
  9. Fundamental Analysis

    How to Calculate a Combined Ratio

    Combined ratio is a formula used in the insurance industry to measure the performance of an insurance company.
  10. Insurance

    Understanding Activities of Daily Living

    There are six basic ADLs: eating, bathing, dressing, toileting, transferring (walking) and continence.

You May Also Like

Hot Definitions
  1. Yield Curve

    A line that plots the interest rates, at a set point in time, of bonds having equal credit quality, but differing maturity ...
  2. Productivity

    An economic measure of output per unit of input. Inputs include labor and capital, while output is typically measured in ...
  3. Variance

    The spread between numbers in a data set, measuring Variance is calculated by taking the differences between each number ...
  4. Terminal Value - TV

    The value of a bond at maturity, or of an asset at a specified, future valuation date, taking into account factors such as ...
  5. Rule Of 70

    A way to estimate the number of years it takes for a certain variable to double. The rule of 70 states that in order to estimate ...
  6. Risk Premium

    The return in excess of the risk-free rate of return that an investment is expected to yield. An asset's risk premium is ...
Trading Center