JAMB - Commerce (2025 - No. 45)
An insurance policy that covers the body of the ship only is called
Voyage insurance
Haulage insurance
Hull insurance
Cargo insurance
Explication
Hull insurance is a type of marine insurance that covers the hull and machinery of a ship. It provides indemnity for loss of or
damage to the ship itself, as opposed to the cargo (which would be covered by cargo insurance) or potential liabilities from
accidents (covered by P&I clubs).
damage to the ship itself, as opposed to the cargo (which would be covered by cargo insurance) or potential liabilities from
accidents (covered by P&I clubs).