Inland Marine Insurance

Inland Marine Insurance

What it is

Despite its name, there’s really nothing “marine” about it, although it did develop historically as an outgrowth of ocean marine insurance. Basically inland marine insurance provides protection for assets that are moveable or involved in transport, and/or the transfer of information.

Inland Marine Insurance

Who needs it

For most, the property coverage from your Business Owners Policy (BOP) or Commercial Package Policy (CPP) may be enough. However, these policies usually only cover property at a specified location; sometimes smaller equipment and tools that an employee takes to a nearby job may also be covered.

If your business transports equipment or products, whether for use in your own business or for others, then inland marine coverage is a necessity.

Inland Marine Insurance

What it covers

Inland marine insures products, materials and equipment when they’re moved over land or while they’re in the short-term control of a third party. This coverage is particularly critical if what you ship has a high value.

Inland marine insurance can be written to cover a broad range of unusual or expensive items and specialty exposures. For example:

• Photography equipment
• Trade show booths
• Scientific equipment
• Fine art & exhibits (protects items while on exhibit, on loan or in transit)
• Medical equipment
• Installation floater (covers materials from the time they are loaded onto a truck until they reach their final installment location)
• Computers, networking equipment

Inland Marine Insurance

Assessing your risk

We’ll discuss your possible inland marine risks during our initial Q&A session, when we assess for general liability, property, etc. We will present our recommendations and the specifics of this property coverage in the final quote option we prepare for you.