Hull coverage is very much like physical damage coverage for our automobiles. It indemnifies the owners of an ocean-going commercial vessel for loss due to perils of the sea, barratry of the master, pirates and similar hazards. Coverage also applies for fire and other named perils. The basic hull form covers the legal liability of the insured to others by reason of collision damage to other vessels. Protection and indemnity (liability) insurance is normally written as a companion coverage.