Generali Cascos Marine Hull Insurance Policy Conditions (English)
Generali's marine hull policy — perils-of-the-sea cover for the vessel itself, explained in plain English.
Cascos (“hulls”) is Generali's marine hull insurance — cover for the vessel itself: its hull, machinery, gear and equipment, against the perils of the sea (fortuna de mar). It is a marine “large risk” policy, governed by the Maritime Navigation Act (Law 14/2014) and the Commercial Code, and is used for commercial and larger vessels — fishing boats, charter and trading craft — rather than small pleasure boats.
For a plain-English overview or a quote, see our marine hull insurance in Spain page or contact our team. For a recreational boat, see the Náutico or Mar Estrella conditions instead. As an authorised exclusive Generali agent, Turner Insurance can explain any clause below.
The cover
Risks covered — the perils of the sea ↑ top
The insurer takes on the risks of the sea, rivers and ports affecting the insured vessel, namely:
- Total loss, abandonment, general-average contribution and salvage costs from shipwreck, collision, grounding or stranding, fire, storm, deliberate jettison for common safety, forced port calls or changes of course, boiler or engine explosion, and breakdown of the machinery, steering or propulsion — the accidents known as fortuna de mar.
- Particular average — partial loss or damage to the hull, machinery, rigging, gear and equipment, due to shipwreck, grounding, fortuitous collision and fire.
- Collision liability to other vessels (running-down) — where the insured vessel is found at fault, the insurer pays 75% of the indemnity (you may not insure the remaining 25% elsewhere).
Simply “touching bottom” at recognised places where vessels usually do so without danger is not treated as a grounding.
Risks excluded ↑ top
Beyond the exclusions of the Commercial Code, the policy does not cover: war (political or civil), embargo, capture, pillage, reprisals, port closure, rebellion, strikes and riots; wilful misconduct or gross negligence of the owner or their agents ashore (including loss of the vessel's class after the policy starts); inherent vice; wintering, quarantine or demurrage costs; crew wages and keep during repairs; blockade-running, contraband or clandestine trade; claims for crew or passenger death or injury; cargo-owner, charterer or passenger claims; delay, exchange differences and commercial loss of any kind; loss from lack of fuel; and fire or explosion from carrying inflammable or explosive cargo (with defined exceptions).
Navigation range ↑ top
The policy applies within defined trading limits (navigation warranties). The vessel may not, in general, navigate certain high-latitude or seasonal-ice waters — for example the North Atlantic coast of North America above 43°40′N (except Halifax), parts of the Baltic in winter, waters north of 70°N, the Bering Sea and far-eastern Asian waters above 46°N, or south of 50°S (with exceptions). The exact warranted area is in the conditions; trading outside it affects cover.
Duration of cover ↑ top
Cover can be written for a period (time policy) or for a voyage. On a time policy that ends while the vessel is at sea within the warranted area, cover is extended to arrival in port on a pro-rata premium. On a voyage policy, the risk runs from weighing anchor (or first loading cargo) to anchoring (or finishing discharge) at the destination, with rules on round voyages and intermediate calls.
Agreed value ↑ top
The vessel is insured at an agreed value (Art. 752 of the Commercial Code), taken to include the hull, machinery, apparatus, rigging, gear and equipment. Fuel, provisions and certain advances may be added by special agreement, but only up to 10% of the vessel's value. A foreign-currency clause allows the valuation to be revised if the contracted currency moves more than 10% against the euro.
Average, repairs & new-for-old ↑ top
Damage and repair estimates are assessed by experts for both sides. The repair budget covers the cost of repairs or replacement of the damaged/lost parts, with new-for-old deductions according to the vessel's age — nothing in the first 5 years, then rising bands (broadly 10–33% on hull and machinery by age). Anchors and chains take a flat 20% deduction; cables, ropes and moorings 33%. The deductions do not apply to incidental costs such as pilotage and dock dues, or to genuinely temporary repairs.
Total loss & abandonment ↑ top
The conditions set out when a total loss is payable and the rules for abandonment of the vessel to the insurer (constructive total loss), along with how the average is justified and settled and how the indemnity is paid. These follow the marine-insurance regime of the Maritime Navigation Act and the Commercial Code — ask us if you need a specific clause explained.