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All Standard plan benefits and:
*plus Workers Compensation
In addition to your fishing boat, you need to cover other vehicles you use for your business, such as trucks that haul your products to the market. Commercial Auto insurance will protect the vehicles you use for business purposes. It covers the physical damage, liability, medical expenses, the cost of repairing or replacing the vehicle up to the policy limits.
When the fish you catch become contaminated and cause someone to get sick, Product Liability insurance provides protection. Product Liability insurance will protect your business from the personal injury or property damage caused by the products you sold or supplied. It is designed so when it happens, you don’t have to pay for the legal fees.
When you work with a crew you need Workers' Compensation, especially if it meets the legal state requirements. It protects your business when a crew member becomes sick and injured on the job. The medical, rehabilitation, lost income and other expenses will be covered by the insurance. The employees are then relinquished of their rights to sue your business for negligence.
Equipment Breakdown insurance will cover the cost of losses from the mechanical or electrical breakdown of any type of equipment your business uses. The insurance will cover the cost to repair and replace the equipment, including additional property that has been damaged during the equipment breakdown.
Companies in this industry are engaged in the process of catching and processing marine animals of all types. This includes shellfish such as clams, crabs, and lobsters, or fish such as bluefish, salmon and trout. This industry does not include inland fish farming.
Whether a seasonal operator or owner of a fleet of boats, you need an insurance to protect your business from many known and unknown risks. This also prevents you from paying huge fees and expenses from your personal and business assets as the insurance will pay for these until it reaches its limits.
Fishermen could drown following a disaster. Vessel disasters could include fire, capsizing, sinking due to a severe weather, collisions, malfunctioning equipment or other related incidents.
These are some of the many risks that your business can face.
The cost of fishermen insurance varies from business to business. Insurance companies normally ask for the services you offer, the number of employees you have and the coverage your business needs. Without taking these into account, here are the common insurances fishermen buy and their average cost:
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