(1) Class of ocean marine insurance that covers physical damage to the ship or vessel insured. Typically written on an "all-risks" basis. (2) Physical damage insurance on aircraft, similar to collision insurance in an automobile policy.
coverage for physical damage done to the aircraft. It is not liability coverage and is therefore triggered by a covered event, regardless of the reason for the damage or loss.
Insurance covering the aircraft, including the engine, propeller, and all other systems and equipment permanently attached to the aircraft (though it may be removable for maintenance), including avionics. Hull insurance is usually issued with a deductible clause ranging from $50 to $250. Hull insurance may be written for aircraft on the ground, not in motion; for aircraft on the ground and in motion (meaning under its own power), or for aircraft in flight. When specified as all-risk coverage it covers the aircraft under all circumstances, regardless of the reason for damage or loss.
Insurance on a ship, boat, hovercraft or aircraft, including its machinery and equipment. Marine hull insurance commonly includes indemnity for of collision liability.
Coverage for physical damage to a vessel or aircraft