Commercial Fishing Fleet Insurance

Our policies can cover various types of commercial fishing vessels including trawlers, crab boats, lobster boats, long-liners, purse seiners, gillnetters, charter fishing boats, aquaculture vessels, and processing ships. Coverage is tailored to each vessel type's specific risks and operations.

Premiums are calculated based on factors including vessel age and condition, fishing methods used, operating areas, crew experience, safety record, catch value, seasonal operations, and previous claims history. Larger fleets may benefit from volume discounts.

Yes, our policies can provide worldwide coverage including international waters. However, certain high-risk areas may require additional premiums or specific endorsements. We'll discuss your operating areas during the quotation process.

Our policies can include coverage for legal costs, fines, and business interruption losses resulting from regulatory detention, provided the detention is not due to deliberate illegal activities. This includes quota violations and minor regulatory breaches.

Yes, we offer flexible policies for seasonal operations including lay-up coverage during off-season periods. This can help reduce premium costs while maintaining essential protections when vessels are not actively fishing.

Emergency repairs can often be authorized within hours of notification. Full claims processing typically takes 7-14 days for straightforward cases, though complex claims may take longer. Our 24/7 claims helpline ensures immediate response for urgent situations.

Yes, our Protection and Indemnity coverage includes pollution liability for accidental fuel and oil spills. This covers cleanup costs, environmental damage, and third-party claims resulting from pollution incidents.

Yes, new vessels can be added to your fleet policy with appropriate notice. Coverage begins immediately upon notification and agreement of terms. Premium adjustments will be made on a pro-rata basis.

We typically require vessel specifications and surveys, crew details and qualifications, fishing licenses and permits, previous claims history, operating areas and fishing methods, catch records, and financial information for business interruption coverage.

Yes, our policies can cover on-board processing equipment, refrigeration systems, and catch handling machinery. This includes breakdown coverage and loss of catch due to equipment failure.

Weather-related business interruption coverage compensates for lost earnings when severe weather prevents fishing operations. Coverage typically includes a waiting period and maximum benefit period, with payments based on your average earnings.

Yes, we can provide coverage for mixed operations including commercial fishing and charter services. However, passenger liability and additional safety requirements will need to be addressed in the policy terms.

Common requirements include current safety certificates, proper maintenance schedules, crew training records, safety equipment compliance, emergency communication systems, and adherence to working time regulations.

Yes, our policies typically cover theft of catch, fuel, equipment, and personal effects while the vessel is moored or at anchor. Coverage may include specific limits and security requirements.

Fishing gear coverage typically includes nets, lines, traps, and other fishing equipment. Claims are usually settled on a depreciated value basis, though new-for-old coverage may be available for an additional premium.

While the physical loss of quota cannot be insured, we can provide coverage for the business interruption losses resulting from temporary license suspension or quota restrictions due to covered incidents.

Our crew coverage includes medical expenses, repatriation costs, and compensation for injuries occurring anywhere in your operating area, including international waters. Emergency medical evacuation is also typically covered.

Yes, modern fishing vessels rely heavily on electronic systems for navigation, fish finding, and communication. Cyber insurance protects against system failures, data breaches, and cyber attacks that could disrupt operations.

Salvage coverage pays for the costs of professional salvage services when your vessel is in distress. This includes towing, refloating, and emergency repairs necessary to bring the vessel to safety.

Yes, we can provide coverage during conversion work and for the completed modified vessel. The policy will need to reflect the changes in use, equipment, and risk profile resulting from the modifications.

Commercial fishing vessel insurance is specifically designed for the unique risks of fishing operations, including catch coverage, fishing gear, crew liability, and business interruption. Standard boat insurance typically excludes commercial fishing activities.

Policy changes can be made by contacting our team directly. Common changes include adding or removing vessels, updating crew details, changing operating areas, or adjusting coverage limits. Most changes can be processed within 24-48 hours.

We provide risk management guidance including safety training recommendations, maintenance schedules, weather monitoring advice, and regulatory compliance support to help prevent losses and keep premiums competitive.

Yes, multi-year policies are available and can provide premium stability and reduced administrative burden. Terms typically range from 2-3 years with agreed premium adjustments and coverage reviews.

Total loss claims are settled based on the agreed vessel value or current market value, whichever is lower. The settlement includes removal of wreck costs if required by authorities, and business interruption coverage helps with ongoing expenses.

Yes, we can provide coverage for innovative fishing methods and experimental operations. However, these may require special terms, additional premiums, or specific risk assessments due to the unknown risk profile.

Commercial fishing vessel insurance costs typically range from 2-8% of the vessel's value annually, depending on factors like vessel age, fishing method, operating area, and claims history. Smaller inshore boats may pay £2,000-£5,000 annually, while larger offshore trawlers can cost £15,000-£50,000+ per year.

Crab boat operations have specific risks including trap loss, seasonal fishing patterns, and shallow water navigation hazards. While standard fishing vessel insurance can cover crab boats, specialized coverage for crab traps, seasonal lay-up, and inshore navigation risks is recommended.

Lobster fishing insurance must account for expensive trap gear, seasonal fishing restrictions, territorial fishing grounds, and the high value of catch. Coverage typically includes specialized protection for lobster traps, buoy gear, and territorial fishing rights disputes.

Commercial trawling requires comprehensive hull and machinery coverage, net and trawl gear insurance, catch spoilage protection, and enhanced crew liability coverage due to the physical demands. Pollution liability is essential given the larger fuel capacity of trawling vessels.

While basic hull insurance isn't legally mandatory, third-party liability insurance is required for commercial fishing vessels. Additionally, employers liability insurance is mandatory if you employ crew members, and many ports require proof of insurance before allowing vessel entry.

Older fishing vessels require specialist insurers familiar with vintage boat construction and maintenance challenges. Coverage may require recent marine surveys, proof of ongoing maintenance, and potentially higher premiums. Some insurers specialize in heritage and classic fishing vessels.

Fishing net insurance covers replacement costs for nets lost due to snagging, collision, weather damage, or theft. Coverage typically includes trawl nets, gill nets, purse seines, and associated gear like doors, warps, and floats. Claims are usually settled on a depreciated value basis.

Converted fishing vessels can be insured, but coverage depends on the conversion type and new use. Conversions to pleasure craft, research vessels, or aquaculture support boats require specialized policies reflecting the changed risk profile and operational requirements.

Protection and Indemnity (P&I) insurance covers third-party liabilities including crew injury, collision damage to other vessels, pollution cleanup, cargo claims, and legal defense costs. P&I is essential for commercial fishing operations and often required by port authorities.

Hull insurance typically costs 1-4% of the vessel's insured value annually. A £100,000 fishing boat might cost £1,000-£4,000 per year for hull coverage, depending on age, condition, operating area, and claims history. Newer vessels in safer waters pay lower rates.

Yes, fishing in Scottish waters requires appropriate marine insurance including third-party liability coverage. Scottish fishing grounds can be challenging with strong currents and rocky seabeds, making comprehensive hull and gear coverage particularly important.

Machinery breakdown insurance covers engine and mechanical failures, including repair costs, emergency towing, and business interruption losses. This coverage is separate from hull insurance and is essential given the harsh marine environment's impact on engines.

Catch insurance covers the value of fish lost due to vessel breakdown, spoilage, contamination, or refrigeration failure. Coverage is typically based on average catch values and includes compensation for lost fishing time during repairs or emergencies.

Charter fishing boats require passenger liability insurance, commercial vessel coverage, crew protection, and often higher liability limits than pure commercial fishing operations. Additional coverage may be needed for fishing equipment provided to passengers.

Yes, North Sea fishing operations can be insured, though the challenging conditions may result in higher premiums. Coverage must account for severe weather, long distances from shore, international waters, and the increased risks of offshore fishing.

War risk insurance covers losses from war, terrorism, piracy, and political violence. While not typically required for UK coastal fishing, vessels operating in international waters or conflict zones may need this specialized coverage.

Equipment theft claims require immediate notification to police and insurers, detailed inventory of stolen items, proof of ownership, and security evidence. Most policies cover theft from vessels and shore-based storage, subject to security requirements and policy limits.

Hull and machinery insurance covers fire damage to the vessel structure and equipment. Additional coverage may be needed for catch spoilage, business interruption, and pollution cleanup resulting from fires. Engine room fires are common risks requiring specific attention.

Aquaculture operations require specialized insurance covering fish stock mortality, equipment damage, environmental liability, and business interruption. This differs significantly from fishing vessel insurance and requires expertise in fish farming risks.

The best insurer depends on your specific vessel type, operations, and requirements. Specialist marine insurers often provide better coverage and understanding than general insurers. Working with an experienced marine insurance broker ensures access to the most suitable markets.

Vessels operating in severe weather areas or during storm seasons may face higher premiums. Seasonal operations that avoid winter storms can benefit from reduced rates. Weather routing and forecasting systems may qualify for premium discounts.

Hull insurance covers collision damage to your vessel, while P&I insurance covers damage to other vessels you collide with. Both coverages are essential as fishing vessels face collision risks from other boats, fixed objects, and underwater obstacles.

Vessels with poor claims history can still obtain insurance, though premiums will be higher and coverage may be restricted. Some insurers specialize in higher-risk accounts, and demonstrating improved safety measures can help reduce costs over time.

Crew insurance includes employers liability (mandatory), personal accident coverage, medical expenses, repatriation costs, and crew personal effects protection. Enhanced coverage may be needed for foreign crew members or extended offshore operations.

Cost reduction strategies include maintaining good safety records, installing approved safety equipment, completing crew training courses, choosing higher deductibles, seasonal lay-up coverage, and working with specialist marine insurance brokers who understand fishing operations.

Hull insurance covers grounding damage to the vessel, while salvage coverage pays for refloating costs. Environmental liability coverage may be needed for pollution resulting from groundings. Grounding is a common risk in inshore fishing operations.

Modern fishing vessels rely heavily on expensive electronics including GPS, fish finders, radar, and communication equipment. While basic coverage is included in hull insurance, additional electronics coverage may be needed for full replacement value protection.

Total loss coverage pays the agreed or market value when a vessel is completely destroyed or damaged beyond economic repair. This includes actual total loss (vessel destroyed) and constructive total loss (repair costs exceed vessel value).

Fishing quotas don't directly affect hull insurance but impact business interruption coverage calculations. Vessels with valuable quota allocations may need higher business interruption limits to cover potential earnings during repair periods.

Fuel insurance can cover fuel contamination, theft, and spillage. Business interruption coverage may include additional fuel costs incurred during emergency operations or when using alternative vessels during repairs.