In addition to any other coverage under this chapter, if a vessel which is the personal property of an agency or if property on any other vessel is damaged or destroyed as a direct result of collision with another vessel, striking any object, whether submerged or not, sinking, grounding, stranding, or other perils of the sea, the Oregon Department of Administrative Services shall pay the cost of restoring the vessel or property out of the Insurance Fund in an amount not to exceed the appraised value established pursuant to this chapter. If an agencys vessel becomes disabled at sea for any reason, the department shall reimburse the agency from the Insurance Fund for the cost of towing the vessel to the nearest port where repairs can be accomplished.
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