Fishing vessel insurance
Fishing vessel insurance covers vessels used for commercial fishing. It consists of two types of insurance: hull insurance, which compensates specified loss or damage to the vessel, and liability insurance, which compensates loss or damage suffered by a third party.
It is possible to add financial interest insurance, which is intended to compensate the operator's financial loss if the vessel becomes a total loss.
If the owner of a vessel only wishes to insure it against total loss, it is possible to choose total loss insurance for boats and vessels instead of the fishing vessel insurance.
Fishing vessel insurance covers vessels used for commercial fishing. It consists of two types of insurance: hull insurance, which compensates specified loss or damage to the vessel, and liability insurance, which compensates loss or damage suffered by a third party.
It is possible to add financial interest insurance, which is intended to compensate the operator's financial loss if the vessel becomes a total loss.
If the owner of a vessel only wishes to insure it against total loss, it is possible to choose total loss insurance for boats and vessels instead of the fishing vessel insurance.
The insurance covers
Hull insurance
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Damage to the vessel caused by a sudden and unforeseen accidental event.
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Damage resulting from defects in the vessel’s materials or from construction or repair defects that are not compensated by the repairer.
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Damage attributable to simple negligence on the part of the crew or a third party.
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Total loss if the vessel is lost or goes missing and has not been found within three months.
Liability insurance
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Direct bodily injury or property damage to a third party arising from the policyholder's liability for loss or damage caused by the boat in a collision, or resulting from errors in its operation.
The insurance does not cover
Hull insurance
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Damage resulting from inadequate maintenance, rot, corrosion or wear and tear.
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Damage attributable to design defects.
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Indirect loss, such as loss of catch and costs resulting from delay.
Liability insurance
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Claims for compensation from employees of the owner or operator of the vessel, or from owners of catch or other goods carried on board.
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Fines and other criminal sanctions.
Please note that the information about the insurance is not exhaustive. More detailed information can be found in the insurance terms.
In case of a discrepancy between this information and the insurance terms, the insurance terms apply.
Financial interest insurance
Total loss insurance for boats and vessels
Insurance terms and other information
The insurance terms is your contract with VÍS. It is important to thoroughly read the terms and understand what is covered and what is not, before purchasing the insurance.