May 22, 2025

Commercial fishing is one of the most demanding industries in the world—both physically and financially. Every day at sea brings opportunity, but it also brings risk: severe weather, mechanical failure, crew injury, equipment loss, and environmental liability are just a few of the concerns vessel owners and operators face. That’s why having comprehensive commercial fishing vessel insurance is not just a smart decision—it’s essential.

At Pacific Ocean Marine Insurance Brokers, Inc., we’ve spent over three decades helping vessel owners secure insurance solutions that are as reliable and hardworking as they are. From tuna purse seiners and longliners to nearshore crabbers and charter operations, we provide tailored coverage built around the realities of life on the water.

Commercial fishing vessel insurance is a specialized form of marine insurance designed to protect vessels engaged in harvesting seafood for commercial sale. This type of policy addresses the unique risks that come with operating boats in rough, open waters while relying on expensive equipment and skilled labor. Unlike recreational boat insurance, commercial vessel policies must account for crew liability, catch-related income, pollution risks, international travel zones, and more.

At its core, commercial fishing vessel insurance typically includes coverage for hull and machinery damage, protection and indemnity (P&I), and crew-related claims. These policies help mitigate the high costs that can result from physical damage to your boat, injuries sustained onboard, or liability issues involving other vessels or property. For many operators, additional options like pollution liability, catch spoilage, and business interruption coverage are also necessary.

Hull and machinery insurance covers the physical vessel—its structure, engines, and permanently installed equipment. This part of the policy ensures that if your boat is damaged by collision, fire, storms, or other maritime hazards, repair or replacement costs are covered. For many commercial operations, especially offshore longliners or high-capacity purse seiners, hull value alone can represent a significant financial investment.

Protection and indemnity coverage takes care of the legal and financial responsibility you may hold as the vessel owner. This can include damages caused to other boats, docks, or structures, and claims resulting from bodily injury or death. In the commercial fishing world, where crewmembers work in physically demanding and hazardous conditions, this coverage is particularly critical.

Another key area is crew coverage. Commercial fishing is subject to maritime labor laws, including the Jones Act, which allows injured crewmembers to sue for compensation. A properly structured policy helps protect against these claims by covering medical expenses, wage loss, and other liabilities that can arise if a crewmember is hurt while on the job.

At Pacific Ocean Marine, we’re particularly known for our expertise in insuring tuna purse seiners and longline vessels. These operations face distinct logistical and operational challenges, often involving global navigation, international crew management, and high-value equipment. Our relationships with marine insurance markets in London, Europe, and the U.S. allow us to place complex, high-risk policies that standard insurers may shy away from.

Many operators also choose to add pollution liability to their policy. Marine fuel spills or waste discharge can trigger costly environmental cleanup operations and regulatory fines. Pollution liability coverage ensures that if something goes wrong—even by accident—you’re not left financially exposed.

Catch and cargo insurance is another important consideration. If your operation relies on transporting catch from sea to market, protecting that cargo from spoilage or damage during transit is essential. For high-volume or offshore operators, this type of coverage can mean the difference between salvaging value and absorbing a total loss.

Some vessels may also require loss of hire or business interruption coverage. This helps cover lost income and operational costs when a covered event puts your vessel out of service. For fleets working in short, high-yield seasons like crab or tuna fishing, this type of coverage can be a financial lifesaver.

Do I Need Commercial Fishing Boat Insurance?

If you’re wondering whether your operation needs commercial vessel insurance, the answer is likely yes. Anyone involved in the commercial harvesting, processing, or transport of fish for sale should be covered. This includes single-boat owners, fleet operators, charter captains, and even seasonal contract vessels.

Without proper insurance, even a single accident can be devastating. Imagine losing your boat to a fire, injuring a crewmember who then files a claim under the Jones Act, or spilling fuel near a protected coastline. These aren’t distant possibilities—they’re real-world risks that happen every year, often with six-figure consequences.

What Does Commercial Fishing Boat Insurance Cost?

Commercial fishing vessel insurance premiums vary depending on vessel size, age, equipment value, fishing methods, location, and claims history. Insurers also look at your experience, maintenance practices, and safety record when determining risk. At Pacific Ocean Marine, we work with each client individually to present your operation in the best possible light, helping you secure competitive rates from reputable underwriters.

Here are three major factors that influence premium cost:

1. Vessel Details: Age, value, construction type, and how well it’s maintained.
2. Operational Risk: Where you fish, what you catch, and how far offshore you operate.
3. Crew & Safety: Size of crew, experience levels, and adherence to safety protocols.

Working with a marine insurance broker is key to making sure you’re not only getting the best rate but the right coverage. General insurance agents often don’t understand the complexities of maritime operations. A broker with industry-specific experience ensures your policy addresses the full scope of your exposures.

At Pacific Ocean Marine Insurance Brokers, we help you navigate the entire process. From identifying appropriate coverage types and limits, to quoting, placing, and servicing your policy, we act as your advocate. Our team stays on top of market shifts and regulatory changes so you don’t have to.

We are fully licensed to provide marine insurance services in California, Oregon, Washington, Alaska, and Hawaii. Our clients range from small, independent operators to large multi-vessel fleets. Whether you’re fishing crab in Alaska or running a tuna seiner in the South Pacific, we know what it takes to keep your business secure.

If you’re looking to insure your commercial fishing vessel, now is the time to talk to an expert. We’ll help you assess your current coverage, identify potential gaps, and tailor a policy that fits your operational reality and financial goals.

Key benefits of working with Pacific Ocean Marine Insurance Brokers:

• Over 30 years of experience in marine insurance
• Specialized expertise in tuna purse seiners and longliners
• Access to U.S., London, and European underwriters
• Fast, responsive service and competitive rates

Your vessel is more than a business—it’s your livelihood. Protect it with the right partner.

Contact us today to request a quote or schedule a consultation.