Commercial Vessel

Marine Insurance for Commercial Vessels is a requirement according to International Marine Law.

Beacon’s Marine Commercial Insurance covers the hull, machinery and equipment of vessels such as General Cargo vessels, Ferry Passenger vessels, workboats, Tugs and Barges, and commercial fishing boats.

Hull cover includes the engines, sails and any other equipment on board needed to operate the vessel.

With Beacon, vessel owner/operators are covered against:

  • Loss of, or damage to, the vessel by specified perils
  • Loss of life, bodily injury to any person, and/or damage to a Third Party’s property arising out of the use of the vessel

Third Party Liability, also known as Protection & Indemnity, covers legal fees in the event of a lawsuit being filed for alleged negligence.

Beacon’s Marine underwriters will go through all specified perils in detail to make sure you have the most suitable cover for your vessel.

Standard applications for Commercial Use Vessels must include:

  • Completed Proposal Forms
  • Recent Condition and Valuation Survey Reports
  • Recent Ship’s Certificates
  • Recent Load Line Certificates
  • Captain and Crew Resumes
  • Common Insurance Marine Document (CMID Audit Report) required for Offshore vessels

To find out more about Beacon’s specialist Marine Insurance for Commercial Vessels, please contact our Team.

If you need a hand financing your insurance premiums, our partners at North West Premium Finance can help.

Get to know more about Beacon – check out our Company Profile.

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