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Commercial Boat Insurance

Commercial Boat Insurance

Commercial Boat Insurance, The vessels with which your company carries out activities

production companies are exposed to various risks. Don’t compromise your

economic stability and assets due to inadequate management.

With Commercial Vessel Insurance your company will be able to:

Receive financial support in the event of being affected by risks associated with navigation.
Achieve the repair or replacement of your boat due to damage or loss of it.
Have coverage for damage caused to third parties or the environment during navigation.
Have a specialized team for decision-making in managing your business risks.

​When you insure what gives financial support to your business, you can breathe easy. There are many factors that could cause you headaches and seriously disrupt the income of your company, to the point of completely stopping your productive activity and putting your continuity at risk.

With our Commercial Vessel Insurance, you will not only support your assets represented by the vessels themselves, but you will also protect yourself against property damages due to damages caused to third parties, or to the environment during the development of your work.

Make the decision today to rely on Seguros SURA to manage your risks. Being in control of what can happen to your business, and being ready for the unforeseen, is a responsible decision committed to your customers and employees, to yourself and to the future. Let us advise you!

What do we not cover?

  • Losses for any kind of earnings or benefits expected in the normal activity of the vessel when they occur due to an accident.
  • Loss or damage caused by delay.
  • Atomic or nuclear fusion and fission.
  • Captain’s fraud, smuggling, clandestine or prohibited trade, and fines for any violation of the law.
  • Claims for accidents at work.

See in detail the insurance coverage and exclusions in the general conditions.


What boats do we insure?

Any type of commercial vessel that navigates and develops its operation in sea or river waters (they cannot be prototypes or be cataloged as naval artifacts).

What is the insured value?

This will be the commercial value of the boat described in the insurance conditions. If something happens that changes the characteristics of the vessel, whether it increases or decreases the insured value, you must inform Seguros SURA immediately. The modification will only be included once it is approved. The insured value of civil liability coverage has limits for the term of the insurance and per event. Also, some coverages have sub limits. Find this detailed information in the particular conditions.

How to make a claim?

  • Report the event to Seguros SURA within the three days following the moment in which it was known or should have been known. Likewise, report any emergency or event that could generate a loss covered by this insurance. To do this, log in with your username and password to your account at www.sura.com, contact your advisor, call toll-free from your cell phone to #888 or call 437 88 88 if you are in Medellín, Bogotá or Cali, or call 01 8000 51 8888 in the rest of the country.
  • Provide the documents that prove the truth of the event and the value of the loss. Among them, a letter with the description of what happened (time, manner and place of the situation, estimation and discrimination of the claimed damages), the complaint before the authorities (if pertinent), the navigation book or log, licenses and permits of the crew in charge of the vessel and quotes and purchase invoices for spare parts, labor, and other expenses. Get to know the complete list of documents in the insurance conditions.
  • Seguros SURA will pay the claim compensation within the month following the date on which you as the insured or a beneficiary prove, even extrajudicially, your right to be compensated in accordance with article 1077 of the Colombian Commercial Code.

Deadlines and terms

  • You, as the insured, must assume a deductible when you are compensated, that is, a percentage of the value of the loss or the property will be your responsibility. The value of said deductible is indicated in the insurance conditions.
  • The insurance premium —its cost— must be paid no later than 30 calendar days following the delivery of the documentation confirming its validity.
  • The insured vessel will be protected while it is afloat and develops its activities or operations in the sea, rivers, or navigable inland waters, always within the area reported and agreed with SURA (including its hoisting, which is the process by which the vessel moves manually), or while in ports, docks or docks.
  • If the validity of the insurance expires and the vessel is sailing or in a port of refuge or stopover, it will continue to be covered until it returns to its base port, provided that Seguros SURA has been previously notified and the corresponding premium has been paid.
  • The insurance will be terminated if the vessel’s permits to operate issued by the maritime authority expire.
  • If Seguros SURA decides to revoke the insurance, you must send your company a written notice ten business days in advance. If you do not want to continue insurance, send us a written request at any time.

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