Fishing Boat Insurance UK: Commercial and Angling Cover

Commercial fishing or charter angling?

A commercial fishing vessel earns from the catch. Cover centres on hull and machinery, gear, catch, crew and protection and indemnity style liabilities, and underwriters look closely at the fishery, the grounds worked and the vessel's licence and quota arrangements.

A charter angling boat earns from passengers. That makes it a small commercial passenger vessel: MCA coded, with passenger liability at the front of the policy and rod, reel and tackle cover added. Our commercial boat insurance guide covers the coding framework in more detail.

Gear, pots, nets and catch

Gear is often the most frequently claimed item and the most commonly under-insured. Pots, nets, lines and dredges are lost to weather, tide and other vessels' movements, and standard hull cover does not automatically include gear in the water.

Ask specifically how gear is rated: whether it is covered while deployed as well as aboard, whether there is a per-item or per-string limit, and how catch aboard is valued if refrigeration fails or the vessel is damaged.

• Set a realistic sum insured for gear both aboard and deployed.
• Check whether gear lost to weather alone is covered or excluded.
• Confirm how catch is valued and whether refrigeration breakdown is included.
• Keep an up-to-date gear inventory with purchase records.

Crew, skipper and share fishermen

Crew injury is the exposure that most often produces a large claim. Employed crew need employers' liability; share fishermen and self-employed crew occupy a grey area where liability can still fall on the vessel owner, so the policy should name the arrangement explicitly.

Insurers also want to see certification, safety training, man-overboard equipment and a working safety management system. Personal accident cover for the skipper is worth pricing separately, because an injured owner-skipper stops the vessel earning entirely.

Lay-up, moorings and loss of earnings

Most inshore boats have a quieter season, and declaring a lay-up period reduces premium. Conditions usually attach: where the vessel lies, whether engines are winterised, and whether gear comes ashore.

Loss of earnings cover pays an agreed daily amount while insured damage is repaired. For a single-vessel operation it is often the most valuable section of the policy, since a two-month repair without it can end the business.

What tends to affect the cost

Cover will depend on the insurer, the policy and your circumstances. Fishing is a specialist market with relatively few underwriters, so early renewal discussions matter more here than in leisure marine.

• Vessel length, age, hull material and engine power.
• Fishery, method and distance from port worked.
• Number of crew and their certification.
• Gear and catch sums insured.
• Coding category for charter angling boats and passenger numbers.
• Claims history, lay-up arrangements and mooring location.

Frequently asked questions

Is fishing boat insurance a legal requirement?

Third-party liability is required in practice by harbour authorities, licensing conditions and lenders, and employers' liability is a legal requirement where you employ crew. Hull cover itself is not compulsory but is usually required by finance agreements.

Does the policy cover pots and nets lost at sea?

Only if gear cover is included and extends to gear in the water. Many policies limit or exclude loss to weather alone, so check the wording and the per-string limits carefully.

Can I take paying anglers on my commercial fishing boat?

Not without the right coding and passenger liability cover. Carrying paying passengers is a different regulated activity and needs to be declared to your insurer before the first trip.

What happens to my income while the boat is repaired?

Nothing, unless loss of earnings cover is in place. It pays an agreed daily sum for an agreed period after insured damage, usually after a short waiting period.