Commercial Fishing Insurance: Cost & Quotes

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Updated: March 27, 2025 . 7 min read

Written by Ofir Sahar

CEO & Founder

Ofir Sahar

CEO & Founder

Some of the products on this page come from partners who may compensate us when you click on their links or take specific actions. This helps us keep our content free. That said, our opinions are our own and based on independent analysis.

 

In the US, anglers caught more than 8.4 billion pounds of fish in 2020.The Centers for Disease Control considers commercial fishing among the most dangerous professions in the US.

To protect your business from costs, you will want a solid commercial fishing insurance coverage.  This article explores commercial fishing insurance coverage in detail from cost, policy offered and the best companies offering the policy.

General Liability Insurance for Commercial Fishing

Commercial fishing insurance coverage with a general liability policy offers broad protection for third-party injuries and property damage due to your business operations. Example situations where this insurance can help are:

  • One of your fishing vessels injures someone while out at sea, which requires medical treatment.
  • While gathering fish, a vessel damages someone’s private property

General liability insurance generally has $1 million per occurrence and $2 million in aggregate coverage limit. 

CoverWallet  NEXT (Best) Thimble  Hiscox The Hartford
Per occurrence limit  $1,000,000 $1,000,000 $1,000,000/$2,000,000 $300,000/$1,000,000 $1,000,000/$2,000,000
Aggregate limit  $2,000,000 $1,000,000/$2,000,000 $1,000,000/$2,000,000 $300,000/$2,000,000 $1,000,000/$2,000,000
Products and completed operations aggregate limit  $2,000,000 $1,000,000 $1,000,000 $1,000,000 $1,000,000
Advertising injury coverage aggregate limit  $1,000,000 $1,000,000 $1,000,000 $1,000,000 $1,000,000
Tenant’s legal liability coverage limit  $100,000 $100,000 $5,000 $100,000 $1,000,000
Waiver of subrogation included? Yes No Included Can be included No
Hired/non-owned auto liability coverage included? Yes No Excluded Can be included Can be included
Equipment breakdown floater included? No  Yes Yes Can be included Can be included

 

 

 Pollution Liability Insurance for Commercial Fishing

Pollution liability policy is a good inclusion to a commercial fishing vessel insurance policy. This policy protects your business against the costs of potential leaks of hazardous materials during business. Example situations where this insurance can help are:

  • One of your fishing vessels has a fuel spill on the water, requiring clean up
  • If your boat sinks, you may be required to remove the wreckage

Pollution liability will often have e a $500,000 per occurrence coverage and a $500,000 aggregate during the policy term. 

 

 

Business Owner’s Policy for Commercial Fishing

Business owner’s policy combines protection from general liability and commercial property insurance into one policy. Examples of business owner’s policy in action include:

  • A power outage causes some equipment on your business property to malfunction

 Business owners’ policy varies depending on what policy options you select. Typically you will find a $1 million per occurrence limit and a $2 million aggregate limit for the liability coverage. 

CoverWallet NEXT (Best) Thimble  The Hartford Hiscox
General liability aggregate limit  $2,000,000 $1,000,000/$2,000,000 $1,000,000/$2,000,000 $1,000,000/$2,000,000 $300,000/$2,000,000
Commercial property coverage limit  $50,000 $320,000 $25,000/$500,000 $35,000 $75,000
Optional policies can be added? Yes Yes Yes Yes Yes
Name additional insureds for free? Yes Yes Yes Yes Yes
BOP discount? Yes Yes Yes Yes Yes

 

 

 

 

Hull and Machinery Insurance for Commercial Fishing

Hull and machinery insurance provide insurance for a vessel that covers it against many forms of physical damage in many kinds of waterways. You also get protection for machinery and marine equipment on board the vessel. Examples of situations to use this policy include:

  • Your vessel or fleet gets damaged by an iceberg while crossing the sea to fish
  • One of your vessels traveling down a waterway runs into rocks and needs to be repaired

Your coverage limit will be determined by the value of the insured vessel. Typically the insured value will not exceed 25% of the assessed insurable value of the vessel.

 

Commercial Fishing Boat Insurance

Commercial fishing boat insurance covers your boat when you need to repair or replace it when it is damaged or stolen and if it causes damaging liabilities. Some examples of when to use this coverage include:

  • Someone steals your boat, so your policy helps you cover the resulting damages
  • Your boat gets damaged when colliding with another vessel out on the water

Compare Cheap Commercial Fishing Insurance Quotes Online

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Boat Insurance Coverage Limits

Some standard coverage limits for boat insurance are outlined below:

Medical Payments Personal Effects Uninsured Boaters Assistance and Towing Equipment Coverage Liability
$5,000 $1,000 $300,000 to $500,000 $500 $1,000 $500,000

 

Workers Compensation for Commercial Fishermen

Workers’ compensation insurance is a policy that protects your employees if they get sick or injured. Some situation examples include:

  • While working on a vessel, an employee falls and injures their back
  • An employee is unable to work due to an injury sustained while fishing

 

Commercial Fishing Insurance Cost

Cost per Month Cost per Year Deductible
General liability insurance $65 $780 $0-$500
Pollution liability insurance $70 $840 $500-$1,000
Commercial property insurance $81 $972 $1,000-$2,000
Business owner’s policy $146 $1,752 $1,500
Workers comp insurance $150 $1,800 $2,500-$5,000
Tools and equipment insurance $68 $816 $500-$1,000
Hull insurance $71 $852 $500-$1,000

 

The average commercial fishing insurance cost is $65 per month or $780 per year for a $1 million general liability coverage. Factors that affect the cost of premiums are claims history, business history, location, policy limits, and deductibles.  

Commercial Fishing Boat Insurance Cost

Your commercial fishing boat insurance cost will be around $69 per month or $628 per year for a 30 feet boat. Your premium will change based on the cost of the vessel you need to insure. Commercial fishing boat insurance usually costs between 1-5% of the value of your vessel.

Best Commercial Fishing Insurance Companies

Here are some of the companies you might want to work with. Read some of the reviews below to know their pros, cons, and average rate for a $1 million general liability insurance.

 

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NEXT

NEXT offers the best experience for commercial fishing businesses that need protection. They have options to protect your buildings, goods, equipment breakdowns, general liability, and more.

Has an A- rating with AM Best and a B+ with the Better Business Bureau.

Average cost: $35 per month

Our rating: 10/10

Pros

  • Best overall
  • Issues an online proof of insurance instantly
  • Fastest general liability insurance for commercial fishing
  • Great customer service and reputation
  • Excellent rates
  • Outstanding value for money
  • Get a 10% discount if you buy two or more policies

Cons

  • Couldn’t find any

 

 

The Hartford

The Hartford offers a suite of policies for your commercial fishing insurance policy. You can get general liability, boat insurance, commercial property, and more.

 They offer personalized protection and over 225 marine insurance options. The Hartford has an A+ rating from the BBB and a 4.8/5 rating for customer satisfaction from their site reviews.

Average cost: $37 per month

Our rating: 10/10

 

Pros

  • 225 marine insurance options
  • Hull and machinery insurance
  • Renowned company for workers comp insurance

Cons

  • Not available in Hawaii

 

CoverWallet

  • Not an insurance company but an insurance broker

CoverWallet has a nice selection of commercial fishing policies and components. Through their partners, they offer commercial fisherman insurance as well as boat insurance. 

They also have general liability, commercial property, and workers’ compensation. CoverWallet has an A+ rating from the BBB.

Average cost: $41 per month

Our rating: 10/10 

Pros

  • Compare quotes online
  • HNOA coverage automatically included in general liability insurance
  • Discounted premiums for paying for the whole-year

Cons

 

 

Compare Cheap Commercial Fishing Insurance Quotes Online

Get all the best quotes from leading providers in a click of a button!

Tivly 

Tivly is an insurance platform with over 200 partners to pick from. They offer charter boat and commercial boat policies that help protect your commercial fishing business. They also have hull coverage that protects your vessels against physical damage. 

Tivly has an A rating from the BBB. Call now to compare quotes over the phone. 

Average cost: $43 per month

Our rating: 10/10 

Pros

  • Compare quotes over the phone
  • A partner of many reputable insurance companies
  • Solution-oriented policies

Cons

  • Have to call to get the policy process started

 

 

Thimble

Thimble offers ocean marine insurance to protect your vessel while crossing the sea or ocean. It also has critical components of your commercial fishing insurance, like general liability. Business owner’s policy and commercial property. 

They make it convenient for fishing businesses by helping you choose the proper policy protections and add-ons.

Average cost: $47 per month

Our rating: 10/10 

Pros

  • On-demand coverage
  • Short-term general liability insurance is available
  • Numerous add-ons to general liability insurance and BOP

Cons

  • You can’t reach customer service by calling

 

 

Hiscox

At Hiscox, you get a personalized customer experience where they tailor your policy to be wholly unique for your business. They specialize in small business customers.

 Hiscox offers general liability, business owner’s policy, and workers’ compensation for your commercial fishing insurance package.

Average cost: $50 per month

Our rating:  10/10

Pros

  • Great workers comp coverage
  • Policies can cover you outside of the US
  • 14-day refunds
  • Numerous upgrades to base policies

Cons

  • Online quoting not available all the time due to periodic site maintenance

 

About the author

Ofir Sahar

Ofir is the founder and CEO of Insuranks. He established Insuranks in 2019 from scratch and has been running educational insurance websites since 2009 on a mission to help businesses...See full bio.

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