Fishing Boat Insurance For Nova Scotia And All Of Atlantic Canada
Commercial fishermen rely on their ability to locate and gather fish, which is a continuous gamble of profits versus expenditures. The potential for devastating loss is incredibly high in the marine market. However, when properly run, a commercial fishing business can be extremely profitable. The combination of an adequate policy, a ship-shape vessel and a competent captain are ideal for success in this industry.
At Fairway Insurance Services Inc. in Digby, NS, we understand that no two commercial fishing boats or captains are the same and the differences can be rather prominent and substantial. For this reason, we provide commercial Fishing Vessel Insurance packages that are tailor made to meet the needs of all types of fishing businesses.
Fishing boats are a major investment and our brokers want to help you protect the vessel that is responsible for sustaining your livelihood. We will match you and your fishing vessel with ideal coverage for all that your business entails.
The Risk Of Foregoing Commercial Fishing Insurance
While the fishing industry in Canada represents one of the greatest opportunities to thrive as a professional fisherman, a rapidly increasing number of fishing captains are taking the financial risk of foregoing adequate coverage. Unfortunately, many commercial fishing business owners are deciding to offset the costs of escalating fuel prices and catch limits by cancelling their coverage.
The cost of operating your fishing boat without a proper insurance policy in place greatly exceed the cost of purchasing the right policy. This is a fact that many fishermen have discovered the hard way, such as those who have had their boats destroyed through no act of their own like a fire spreading from another vessel, or sinking due to the unexpected ferocity of a storm. Even worse those innocent owners who's vessel has been damaged by the actions of an uninsured owner and had to turn to their own insurance to pay for what the others should have.
A Summary Of Coverage
The Nova Scotia Commercial Fishing policies from Fairway Insurance Services Inc. make certain that you are covered in the event of misfortune. We insure fishing vessels for damages and losses that result from the following:
- A total loss of the vessel or repairs associated with damages to equipment, machinery or vessel hull
- At sea perils, such as collision or stranding due to heavy weather; including expenses incurred for salvaging the vessel
- Captain or crew negligence
- Liability coverage for damage to other boats as the result of a collision
Our Fishing Vessel Insurance policies include a minimum of $2,000,000 Protection and indemnity that provides valuable liability coverage for the following:
- Illness, injury and death as a result of vessel operation
- Property damage or loss of people not on board the vessel
- Wreckage removal
- Investigation and defense costs associated with claims and lawsuits
Additional Coverage Options That You May Want To Consider Include:
- Skiffs & Tenders
- Nets & Gear
- Enhanced Loss of Fishing Time
- Commercial General Liability
- Non-Owned Automobile Liability
It does not matter if you operate a sole seasonal vessel or you maintain an entire fleet of commercial fishing boats that thrive throughout the year, you need a complete and comprehensive Commercial Fishing Insurance policy from a broker that you can trust. With all of the exposures and risks that you face each day in the course of operating your business, everything from equipment related injury to drowning or the sale of contaminated fish that leads to illness, you have to be properly protected.
Of course, you do not want to pay unreasonable premium prices for the policy that you need. You need a policy that will meet the needs of your fishing business, while falling within the limits of your operating budget.
Commercial fishing is consistently rated as the most dangerous occupations in the world and the risk of significant damage remains just as consistent. However, it is possible for you to manage your risk with an affordable Fishing Vessel Insurance policy from a reputable Nova Scotia insurance provider like Fairway Insurance Services Inc. and put your mind at ease. We offer extensive coverage for you, your boat, your equipment and your crew as a practical solution to bearing the costs of potential damage to in the event of unanticipated catastrophe.
Our goal is to assist the commercial fishermen of today in meeting the many challenges that they face by proving a Commercial Fishing Insurance policy that is specific to their unique needs. To obtain a free quote from an insurance provider that has come to the aid of many business owners just like you, all you have to do is click on the quote request button. You can see how much you could save on your insurance in as little as a day, so submit your no obligation quote request now.
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