If you are a boat owner in Ireland you will have to have Commercial Fishing Vessel Insurance
If you are the owner of a commercial fishing vessel in Ireland, you will know that having insurance cover is highly important.
Accidents happen at sea regularly so it’s vital to choose solid commercial boat insurance in case you get into troubled waters.
If you are looking for insurance for your commercial fishing vessel it should cover everything but depending on what size your boat is, you should look for a policy that is tailored to your needs.
For example, a three-metre boat fishing lobster pots will need nowhere near the insurance cover a 59-metre midwater trawler.
Commercial Fishing Vessel Insurance Inshore Ireland
As a small inshore boat it may be easy to find an insurance carrier if you are simply potting and netting around bays.
A three-metre boat would need cover for an outboard motor, cover for loss, theft damage and third-party liability insurance. You may or may not need additional cover for unpaid crew (but not for employed crew), personal belongings.
Commercial Fishing Vessel Insurance Offshore Ireland
The bigger your fishing vessel, the more the complications add together. As a trawler or seine-netter you will have heavy equipment on the deck of your boat that your crew has to work with. You have tens of thousands or even hundreds of thousands work of electronic equipment in your wheelhouse. Your fishing vessel will have an engineroom with inboard main engine (or two in some cases) and auxiliary generator engines for electrics. If something goes wrong it means time delays, meaning lost fishing days, lost income for you and your crew.
Bigger fishing vessels also means working in more dangerous weather and more that likely offshore, meaning far away from land. If you breakdown out at sea, do you have the right cover that will cover tug or towing expenses. Where are you insures to go, what are you insured to fish.
All these details are highly important when you look for your commercial fishing vessel insurance.