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 happens if my insurance claim falls below the deductible level?

    Though the ins and outs of health insurance are often confusing, the concept of the insurance deductible is relatively straightforward. ... Read Full Answer >>
  2. How is the deductible I paid for my insurance claim treated for tax purposes?

    The deductible you pay on your health insurance policy may be tax-deductible if you meet certain conditions. However, whether ... Read Full Answer >>
  3. What level of reserve ratios is typical for an insurance company to protect against ...

    In the United States, and most developed nations, regulators impose required statutory capital reserve ratios on insurance ... Read Full Answer >>
  4. What risks do I face when investing in the insurance sector?

    Like all equity investments, insurance companies present investors with market risk. Insurance companies, like banks, also ... Read Full Answer >>
  5. What are the main factors that impact share prices in the insurance sector?

    The main factors that impact share prices in the insurance sector are interest rates, earnings and actuarial risk. In the ... Read Full Answer >>
  6. Why do insurance policies have deductibles?

    Insurance policies have deductibles for behavioral and financial reasons. Moral Hazards Deductibles mitigate the behavioral ... 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. Insurance

    The Importance of Healthcare Risk Management

    Risk management is especially important in healthcare because human lives might be on the line. Here are some strategies to map out a plan.
  5. Insurance

    Tips for Insuring Your Salary

    Those with high incomes really can’t afford to be without disability insurance. Here's why.
  6. Insurance

    Medicaid and Nursing Homes: A Quick Guide to the Rules

    Medicaid can cover the costs of a long-term healthcare facility, if you qualify. But that's a big if.
  7. Professionals

    IRS Sets 2016 HSA Deduction Limits

    Contribution limits for HSA plans have increased slightly for 2016. Here's a breakdown of what they are and how they work.
  8. Insurance

    The Best Way to Insure Your Jewelry

    What you need to know to keep those baubles, bangles and beads safe.
  9. Insurance

    Did Obamacare Make Premiums Go Up?

    A careful look at data from nonpartisan sources suggests that any increases have actually been modest by historical standards.
  10. Insurance

    Who Needs Extortion Insurance?

    Insurance can help mitigate the financial damage of an extortion plot, but it’s important to read the fine print before taking out one of these policies.

You May Also Like

Hot Definitions
  1. OsMA

    An abbreviation for Oscillator - Moving Average. OsMA is used in technical analysis to represent the variance between an ...
  2. Investopedia

    One of the best-known sources of financial information on the internet. Investopedia is a resource for investors, consumers ...
  3. Unfair Claims Practice

    The improper avoidance of a claim by an insurer or an attempt to reduce the size of the claim. By engaging in unfair claims ...
  4. Killer Bees

    An individual or firm that helps a company fend off a takeover attempt. A killer bee uses defensive strategies to keep an ...
  5. Sin Tax

    A state-sponsored tax that is added to products or services that are seen as vices, such as alcohol, tobacco and gambling. ...
  6. Grandfathered Activities

    Nonbank activities, some of which would normally not be permissible for bank holding companies and foreign banks in the United ...
Trading Center
×

You are using adblocking software

Want access to all of Investopedia? Add us to your “whitelist”
so you'll never miss a feature!