Hull And Machinery
Hull and Machinery (H&M) is a type of marine insurance policy that provides coverage for physical damage to a vessel's hull and machinery. This includes damage caused by accidents, weather events, and other perils. The policy typically covers the cost of repairs or replacement of damaged or lost equipment, as well as any associated costs such as salvage and towing. H&M insurance is important for ship owners and operators, as it helps to mitigate the financial risks associated with vessel damage and loss. It is often required by lenders and other stakeholders as a condition of financing or operating a vessel.
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