A typical voyage will require many insurances. The ship's hull and machinery will need to be insured, as will the cargo being transported and the crew on board.
The vessel's hull and machinery are often insured in Lloyd's of London, or one or more of the large commercial insurance companies and is the responsibility of the shipowner. This is also the case with cargo insurance which is the responsibility of the charterer. Owners must belong to a P&I Club, which will cover the ship for its liability for cargo and will usually provide insurance for crew, death and bodily injury. Charterers will have potential liabilities to third parties including the owner, and these are often also covered via membership of a P&I Club. Other insurance includes War Risks Insurance, relevant when entering areas of high risk.