Commercial Fishing & Marine Insurance
Bauld Insurance has access to exclusive Commercial Fishing Vessel and Marine Insurance through our well-earned insurance provider partnerships. We offer insurance coverages for a wide range of offshore and mid-shore fleets operating in Nova Scotia.
Insurance Tailored to Specific Marine Industries
- Commercial fishing vessel insurance
- Insurance for marinas
- Insurance for boat building & repair (shipyards)
- Cargo insurance
- Tourist boat insurance
Damages and Losses Coverage
- Loss of the vessel
- At sea perils, including being stranded due to heavy weather
- Expenses incurred for salvaging the vessel
- Repairs related to damage of machinery, equipment, machinery or boat hull
- Liability insurance due to a collision with another vessel
- Captain or crew negligence
Protection and Indemnity Liability Coverage
- Injury, Illness, or death resulting from vessel operation
- Property damage or losses incurred while not on board the vessel
- Investigation and defence costs associated with claims and lawsuits
- Vessel or wreckage removal
Additional Insurance Coverages Available
- Fishing Nets & Gear
- Boat trailers, skiffs & tenders
- Catch
- Loss of Fishing Time
- Commercial General Liability
Determining Your Fishing Vessel Insurance Coverage
Our Bauld Commerical Advisors that specialize in commercial fishing insurance will work with you to ensure your marine business is well protected. Here are some common questions our Advisors will ask to get the right coverage for your business.
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Where and what type of fish do you catch?
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Understandably, commercial fishing operators must state the type of fish they catch for insurance purposes. This will help define specific risks. Each type of catch will have unique requirements from the catching process to the season in which the fishing vessel is operating on the seas. The operating location may have navigational limits that would be outlined in your commercial fishing license conditions.
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What is the market value of your commercial fishing vessel?
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The age and weight of your fishing vessel are two key determinants of your fishing vessel’s market value. If your fishing boat is over 15 tonnes (gross) it will need to have a Canadian Steamship Inspection. It is common to require a survey if your fishing boat is over 15 years old.
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Who is the captain of your fishing boat?
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Like any other vehicle insurance, the primary driver, or in this case the captain of the fishing vessel must be declared. Does your captain have a clean sailing record? What type of master class license does the captain have? The master class license number defines the size of a ship that can be captained.
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What is your boat made of?
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As we know, fishing vessels are constructed from a range of materials. From wood to fibreglass, these materials will help determine what type of additional protection may be required.
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What are your boat's safety features?
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Not surprisingly, safety is very important and a key aspect of commercial fishing boat insurance. The safety features of your fishing vessel are another factor in determining your insurance coverage and premium.
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Do you operate tours for passengers?
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Whether you have an ongoing sea tour operation or take passengers on tours from time to time, passenger liability insurance is required. Passenger liability is defined by the Government of Canada.
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Are you ready to hit the seas?
You work hard to make your fishing business successful. Find out how our Bauld Commerical Insurance Advisors can help you better protect your business with commercial fishing insurance just right for you.
