Business Interruption & Loss of Hire Insurance

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Protecting income when marine equipment failure, breakdown or damage stops operations.

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Specialist Marine & Offshore Insurers

  • Allianz
  • Aviva
  • QBE
  • RSA
  • Zurich
  • NIG

PROTECTING AGAINST OPERATIONAL DOWNTIME

Insurance for Loss of Revenue When Marine Operations Halt

Marine and offshore operations depend on continuous performance of critical equipment - from ROVs and AUVs to deck cranes, engines, navigation systems, winches and survey tools.

When equipment breaks down or is damaged, the financial impact can be severe. Business Interruption & Loss of Hire Insurance helps cover lost income, contractual penalties, additional costs and operational downtime until repairs or replacements are complete.

What Does Business Interruption & Loss of Hire Insurance Cover?

  • Loss of income due to equipment breakdown
  • Loss of hire for vessels or equipment
  • Downtime caused by ROV/AUV failure
  • Operational stoppage from damage or malfunction
  • Cover for contract penalties or non-performance
  • Additional working costs to continue operations
  • Standby crew and vessel costs during repairs
  • Cover for delayed or cancelled projects
  • Financial protection during investigation/repair
  • Extensions for offshore and high-risk operations
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Common Causes of Marine Business Interruption

  • Critical equipment breakdown
  • Power supply or generator failure
  • ROV, AUV or sonar system malfunction
  • Deck crane or winch failure
  • Damage from impact, grounding or collision
  • Storm damage to vessels or equipment
  • Dockside accidents delaying deployment
  • Supply chain issues causing delays
  • Failure of hired-in equipment
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Who Is This Cover Designed For?

Marine Operators

  • Offshore service vessels
  • ROV & AUV contractors
  • Survey & inspection companies
  • Cable lay & subsea construction firms
  • Fishing & aquaculture operators

Equipment & Technology Providers

  • Marine equipment hire companies
  • Vessel & equipment owners
  • Manufacturers & testing facilities
  • Offshore engineering firms
  • Survey electronics operators
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Why Choose Insure24?

  • Specialist cover for marine operational downtime
  • Supports offshore, subsea and vessel operations
  • Options for worldwide and high-risk regions
  • Fast, flexible underwriting for urgent cover
  • Tailored solutions for high-value equipment
  • Expert claims support & rapid response
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FREQUENTLY ASKED QUESTIONS

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What events can trigger a business interruption claim?

Claims may arise from breakdown, accidental damage, collision, storm events, power failure or failure of hired-in equipment.

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Does this insurance cover loss of hire for vessels?

Yes - vessel owners can insure daily lost revenue when the vessel cannot operate due to an insured event.

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Is cover available for ROV/AUV downtime?

Yes - breakdown or malfunction of subsea vehicles can trigger loss of revenue protection.

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Does this cover contractual penalties or delay costs?

In many cases yes - penalties, delay charges and standby costs may be included or added as an extension.

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Can hired-in equipment downtime be covered?

Yes - cover can extend to equipment not owned by the operator but hired for marine operations.

Related Covers

Keep exploring related marine-equipment pages on loss of hire, hired plant, subsea downtime, transit and claims planning.

Downtime & Financial Loss

Operational Dependencies

Cover Planning