Loss-of-hire insurance
Essential for modern shipping companies
Loss-of-hire insurance is an insurance against loss of earnings to which a special motto fits particularly well: Blessing in disguise. In the event of a shipping accident or any other damage, it is the insurance that can avoid the economic risk for the shipowner or shipping company. Anyone who is insured for the event of loss of hire has done a lot to ensure that in the event of a loss the insurance company has insurance cover for loss of earnings that provides precise coverage.
As a highly qualified underwriting agent in Germany, the HKVA is also an experienced partner for solid and appropriate loss-of-hire insurance. In cooperation with established insurance companies and professional brokers, we arrange solid loss-of-hire insurances for companies in the commercial shipping sector, which provides an optimized protection concept for all contingencies. The most important facts about loss-of-hire insurance are outlined in this overview. Do you have any questions? We are here for you.
What does the insurance cover for Loss of Hire?
Things always seem to happen when you least expect them. Even a minor accident or engine damage to a ship has unpleasant consequences for the company concerned - the planned cruise cannot start on time or has to be stopped in the middle of the sea. In concrete terms, this means that the order for the customer cannot be completed according to plan. This leads to a loss of earnings and annoys the customer, who may choose another business partner. If the ship even breaks down for weeks or months, shipping companies or ship owners suffer considerable damage. This is because missing charter income is usually not covered by a classic marine hull insurance. Loss-of-hire insurance provides cover in precisely such cases.
Who benefits from loss of earnings insurance?
Everyone who earns money from commercial shipping and wants to insure the risk of engine damage etc. benefits from this insurance. It does not matter whether it is a ship owner with one ship or a shipping company with an extensive fleet. Those who have taken out insurance against loss of earnings have a significant advantage.
What is the advantage of loss-of-hire insurance through the HKVA?
In the case of loss of hire, it is advisable to rely on insurance cover from the HKVA. Our aim is to provide a customisedd insurance concept that meets high standards and can offer comprehensive protection. We design this protection with expertise and commitment: we carefully examine the daily rate and requirements - the basis on which we develop an insurance policy that meets your needs. We are able to do this because we operate as independent underwriting agents and have access to numerous offers from around 30 insurance companies with proven credit ratings. With an insurance as protection against loss of earnings, we cover the economic risk along the agreed liability route. As a reputable underwriting agent in Germany, we can thus efficiently prevent business from getting out of hand in the event of a shipping accident. With loss-of-hire insurance, policyholders benefit from planning security that gives them peace of mind.
Our service around loss-of-hire insurance
Expertise and service distinguish the Hanseatische Kasko Versicherungsagentur. We design insurance solutions in which the shipping industry is financially soundly secured. We generate the reduction of risk in cooperation with leading insurance companies, from whose offers we can independently and thus objectively generate the optimum. In this way we offer ideal insurance protection that convinces.
Contact us to take advantage of our non-binding initial consultation on loss-of-hire insurance.
How to reach us:
Underwriting
Phone:+49 (0) 421 436 00 -34
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Claims
Phone: +49 (0) 421 436 00 - 35
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Our Claims-Hotline are at your side 24/7 on 365 days:
- on weekdays, 8 a.m. to 5 p.m.: Phone: +49 (0) 421 436 00 - 35
- from 5 p.m. / at weekend: Bluewater and Brownwater: Phone: +49 (0) 160 717 80 80 (VHT Claimshotline)
