Builders Risk Hull Insurance
Definition of "Builders risk hull insurance"
Property coverage for a builder of ships until possession passes to the owners. Protects against pre-launch and post-launch perils. Coverage can be purchased on an all risks basis subject to the exclusions of war, nuclear disaster, and inherent defects. The builder buys either insurance that covers the startup value of the property, to be adjusted upward to reflect additional construction (Reporting Form); or insurance to cover the completed value of the property (Completed Form).
Popular Insurance Terms
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Insurance company that restricts its underwriting of risks to one state. ...
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Coverage for items of property being delivered to a customer. The means of transportation covered include such common carriers as aircraft, railroads, trucks, express carrier, and other ...
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Coverage on an all risks basis for physical damage loss. Coverage applies to property damage to the insured boat or damage caused by the insured boat to a third party boat. Excluded perils ...
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