Husbands welcome aboard steamship (5)
I believe the answer is:
saves
'husbands' is the definition.
(saving is a kind of husbanding)
'welcome aboard steamship' is the wordplay.
'welcome' becomes 'ave' ('ave' is a Latin greeting).
'aboard' means one lot of letters goes inside another.
'steamship' becomes 'ss' (nautical abbreviation).
'ave' put within 'ss' is 'SAVES'.
(Other definitions for saves that I've seen before include "Rescues" , "Redeems or hoards" , "Preserves" .)