The type of marine insurance which covers either damage or loss to the vessel and such as caused by it to other vessel is?

Assessment: JAMB UTME - Commerce - 2003 Subject: Commerce

Question 1 Report

The type of marine insurance which covers either damage or loss to the vessel and such as caused by it to other vessel is?
Answer Details
Hull insurance is the type of marine insurance that covers damage or loss to the vessel and such as caused by it to other vessels. In simple terms, it provides coverage for physical damage to the ship or vessel itself, as well as any liability that may arise from damage caused by the ship to other vessels or property. This coverage can include damage from accidents, natural disasters, and even intentional acts of sabotage or piracy.
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