Insurance is rather important for your boats and hull. Damages caused by incidents on the sea, fire, or weather disruptions are often huge and unbearable costs. If you choose a proper insurance plan for your boat prior to taking it out to sea, you will have gained financial security for most of the damages that can be caused to your vessel.
Allied’s Hull Insurance plan gives you financial coverage against most of the issues that could be caused to a vessel. It even covers the engine, GPS, Generator and other equipment that are used on the vessel.
This policy covers damages caused to the vessel by weather disruptions, or the damages caused to the vessel or its equipment due to a fire incident, or ship stranding. Along with the damages to the vessel itself, this plan also provides coverage for the damages caused to the captain and crew or the equipment used on the vessel.
There are two types of coverages under this plan, Full cover and Total Loss Cover. The plan also includes several add ons; among which you can choose to provide coverage for any damages that might be caused to the passengers travelling on the vessel.
If you take an insurance plan for your vessel, it is important that you share the actual value of the vessel with the insurance company. The coverage amount may not be reasonable if you share a smaller value than the actual value.
Allied has introduced an option where you can check the cost of insurance of your vessel online. Myallied.mv now has a ‘Smart Quote’ feature which allows you to instantly generate the premium amount needed for insuring your vessel by just entering a few details about your vessel.
This insurance plan is open for boat owners of vessels of all sizes and types. We even offer this plan through Ayady Takaful for any of you who prefers to choose the Islamic option.
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