Loss of Hire
This cover enables the assured to recover their loss of income as a result of the vessel being unable to operate due to damage or being prevented from trading due to a blockage of the port.
Loss of Hire
This cover enables the assured to recover their loss of income as a result of the vessel being unable to operate due to damage or being prevented from trading due to a blockage of the port.
The cover is based on a daily amount reflecting the vessels earning capacity declared and accepted by Underwriters. The policy normally has a maximum of 90 days and a deductible of 14 days.