Fishing Boat Insurance
| Insurer | Outstanding Policy Features | Quote |
|---|---|---|
| Cover on underwater gear without any increase in excess. Personal accident cover up to £100,000. |  |
|
| Insurance for non-commercial boats only, 12 months in commission use, cover for theft, accidental damage and third party liability. 25% No claims discount available. | |
In 2008, the UK fishing industry had 6,573 fishing vessels and there were 12,761 fishermen. These fishing boats landed 588,000 tonnes of sea fish with a value of £629million. It is a huge industry, and with over six thousand fishing vessels working in the UK, the requirement for fishing boat insurance is as important as ever.
Fishing boats come in all sorts of shapes and sizes and there are countless different uses. From dredging to netting, there are many different types of fishing vessels and ways in which these boats are used. It is therefore vital that you get the right fishing boat insurance for your needs.
Insurance for fishing boats is determined by various factors. Firstly, an insurer will take into account the size and type of boat you own, including factors such as the material of the hull and the length of the boat. The maximum speed of the boat in knots is also likely to be an important factor.
Secondly, an insurer will want to know the specific type of fishing that you intend to undertake. This can be anything from netting and potting, right through to more recreational activities such as charter angling or rod and line fishing.
Thirdly, the insurance company will need to know what your intended travelling range will be. Your premium will be affected by how far offshore you intend to take the vessel and, generally speaking, the higher the cruising range, the higher your insurance premiums will be. They insurer will also want to know where the vessel is based.
Fourthly, the size of the crew will also be an important factor to the cost of your boat insurance. This is if you want to include crew liability insurance with your policy, which is strongly recommended if you have a number of crewmen on your fishing boat.
Finally, your existing claims record is likely to be important. No claims discounts are generally available if you have a good previous claims history.
Fishing boat insurance covers a wide range of risks. Typically, you will find that a policy will include cover for:
• Underwater damage to hull and engines
• Accidental loss and damage to boat and property
• Personal accident
• Crew liability
• Loss of use
• Liability for the navigator
• Damage or loss of outboard motors
• Salvage and removal of wreck charges