Hull Insurance is a type of marine insurance that covers physical damage to a ship or vessel. This insurance protects the owner against losses resulting from accidents, collisions, or other incidents that may cause damage to the hull and machinery of the ship. Typically, hull insurance policies can be tailored to cover specific risks, including theft, fire, and natural disasters. It is essential for shipowners to have this coverage to safeguard their investment and ensure financial stability in case of unforeseen events that could lead to costly repairs or total loss of the vessel.