Hull insurance is a type of marine insurance that covers physical damage to a ship or vessel. This insurance protects the owner from financial loss due to accidents, collisions, or other incidents that may harm the structure of the ship. It typically includes coverage for repairs, salvage, and even total loss of the vessel. In addition to covering the hull, this insurance may also extend to equipment and machinery on board. Hull insurance is essential for shipowners, as it helps ensure that they can recover from unexpected damages and continue their operations without significant financial strain.