2. Hull insurance
Time Policies relate to Hull insurance.
Hull insurance is an insurance policy especially designed for covering ship damage expenses.
It covers all types of vessels operating into the oceans, lakes, or rivers like bulk carriers, fishing boats, ships, tankers, cruises, yachts, jetties, and wharfs.
More about FPA:
The FPA clauses are mainly found in marine insurance policies.
It does not include liability for compensation for losses to the cargo or to the hull other than those caused by stranding, sinking, burning or collision.