Marine Insurance

If you use marine vessels for your business purposes, we do suggest you insure them in order to avoid considerable financial losses caused by potential damage to or loss of a marine vessel. We offer insurance coverage for all types of vessels. Based on individual assessment of the needs of each of our clients, our experts, who have many years of experience in marine insurance, will provide professional consultations and services and also prepare a quote on better terms and conditions to best meet your needs!

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What is Marine Insurance?

Marine Insurance is the key support for marine vessel owners in order to protect them against financial losses due to damage, destruction, or loss of the vessel as well as in case of partial losses. Marine Insurance covers the expenses associated with rescue operations and the costs of a general accident.

When obtaining a Marine Insurance policy, the client will enjoy the most appropriate insurance terms and conditions which are used world-wide. Marine Insurance is provided in accordance with the International Marine Risks Insurance Terms and Conditions (INSTITUTE TIME CLAUSES), which are accepted by banks and reinsurance companies and provide additional protection for the client.

What types of vessels can be insured?

We insure vessels which are used for commercial purposes, have a professional crew, and appear in the respective register (in Latvia, the Register maintained by the Maritime Administration of Latvia).

We offer insurance coverage for all types of vessels:

  • floating structures (such as floating docks, cranes, accommodation hulks, barges);
  • technical and auxiliary shipping aids (such as fishing vessels, tug boats, icebreakers, hydrography vessels, pilot vessels);
  • vessels used for transportation (such as passenger ferries, dry cargo vessels, general cargo vessels).

Why to choose BTA Marine Insurance?

Our advantages:

  • We assure individual approach to every client and thorough assessment of its needs and preferences in order to provide the best Marine Insurance quote.
  • The experience in Marine Insurance, which our experts have accumulated over many years, will assure professional consultations regarding the marine insurance risks.
  • We offer an insurance coverage which meets the requirements of credit institutions.
  • We offer worldwide insurance coverage, save any war risk zones. 

What risks can vessels be insured against?

Main risks:

  • Water traffic accidents
  • Fire, explosion
  • Theft, robbery, illegitimate activities of third parties
  • Natural disasters (earthquake, volcano eruption, lightning)
  • Danger of accident
  • Piracy, armed robbery in the sea
  • Collision with port equipment or facilities
  • Shaft breakage, steam boiler rapture, latent manufacturing defects
  • Negligence of the captain, crew members, pilots
  • Gross negligence of the captain or the crew

Policy purchase options

The Marine Insurance Policy can be purchased using one of the below options:

  • if you fill in the application form available on BTA website, an expert of BTA’s will contact you to find out the required details and prepare the insurance proposal, and send it to your e-mail address;
  • by calling BTA Customer Service Support at 26 12 12 12. During the call, it is also be possible to pay for the policy immediately;
  • you may visit a BTA Customer Service Centre in person;
  • you may contact a BTA agent, insurance broker.

Where can I find more information?

If you wish to receive additional information about the Marine Insurance or its purchase, please contact BTA Customer Support by calling 26 12 12 12 or using any other means of communication you find most convenient for you. For other communication options, please click “Contacts”.