The First Schedule (rule 15) of the Marine Insurance Act 1906 states that the term ‘includes the hull, materials and outfit, stores and provisions for the officers and crew, and in the case of vessels in a special trade, the ordinary fittings requisite for the trade, and also, in the case of a steamship, the machinery, boilers, and coals and engine stores, if owned by the assured’.
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Ship includes the hull, materials and outfit, stores and provisions for the officers and crew and in the case of vessels engaged in a special trade, the ordinary fittings requisite for the trade, and also, in the case of a steamship, the machinery, boilers and coals and engine stores, of owned by the insured.