Inland Marine Insurance

Inland marine insurance, sometimes called "inland transportation insurance," fills a gap in coverage between standard commercial property and traditional ocean marine insurance. While standard commercial property insurance typically covers your physical business location and its contents, it often excludes coverage for your property while it's being transported on land. This is where inland marine insurance comes in.

Who needs it?

Any business that transports, stores, or installs property off-premises can benefit from inland marine insurance. This includes:

• Manufacturers and distributors: Protecting inventory and equipment during transportation.
• Contractors: Covering construction equipment and materials at job sites.
• Retailers: Ensuring inventory is protected during delivery and return processes.
• Event planners: Protecting equipment and displays used for events.
• Art galleries and museums: Safeguarding valuable artwork during transit and exhibitions.

What does it cover?

Inland marine insurance protects your movable business property while it's being transported, stored off-premises, or undergoing installation. This can include a wide range of items, such as:

• Inventory: Products and materials being shipped to or from your business
• Equipment: Construction machinery, tools, computers, or other specialized equipment
• Fine art and valuables: Artwork, antiques, or other precious items during exhibition, transit, or storage
• Exhibition and trade show property: Displays, merchandise, and equipment used for events
• Mobile business property: Food trucks, trailers, or specialized vehicles used for business operations

How does it work?

Inland marine insurance policies can be tailored to your specific needs and can cover various perils, such as:

• Physical loss or damage: Caused by collisions, accidents, weather events, theft, or vandalism.
• Non-delivery: If your property doesn't reach its destination due to loss, confiscation, or abandonment.
• Spoilage or contamination: If your property deteriorates or becomes unusable due to improper handling or temperature changes.

Advantages of inland marine insurance:

• Peace of mind: Knowing your property is protected during transportation, storage, or installation reduces anxiety and allows you to focus on your business.
• Financial protection: Reimburses you for the value of lost or damaged property, minimizing financial losses.
• Flexibility: Policies can be customized to cover specific needs and risks, offering various coverage options and limits.
• Compliance: In some industries or contracts, inland marine insurance might be mandatory.

Talking to an insurance professional is crucial to understanding your specific needs and choosing the right inland marine insurance policy. They can help you identify potential risks, navigate coverage options, and ensure you have adequate protection for your valuable property throughout its journey.