Inland marine insurance is a type of business insurance that helps cover products, materials, and equipment transported on land, such as by truck or train. In addition, moveable commercial property utilized for transportation or communication is intended to be protected by this coverage.

The cost of repairing or replacing portable commercial property destroyed by one of the insured perils is assisted by inland marine insurance.

Perils that may be covered by inland marine insurance may include:

• Theft
• Water damage
• Fire
• Wind
• Hail

In addition to the above, an inland marine insurance policy may provide additional coverage for specific situations. For example, this may include protection for:

• Mysterious disappearance: Missing property where the cause of the loss cannot be discovered.
• Accidental drop and damage: Property losses are caused when an item is dropped or mishandled, either in transit or loading/unloading.

Your Business:

If your business needs specific equipment to operate, you will be protected under Inland Marine insurance. This can be anything from construction equipment to medical supplies to art and photography equipment.

Your Customers:

If your clients leave their property in your possession to be stored, they will be covered for physical damage or theft of the property while it is in your care.

Your Vendors:

Any company that rents or leases equipment to you will require that you provide insurance coverage for the product while it is in your possession. However, they are protected under your Inland Marine coverage as they will repair or replace lost equipment.

A specialized type of property insurance is inland marine. Because of this, not all small enterprises require it. However, businesses that fulfill the following description ought to think about getting it:

• Property is often transported by land
• Occasionally, ship valuable goods
• Possess items mobile across sites for businesses
• Have property kept at facilities owned by third parties
• Possess property inside a moving commercial vehicle (food truck, repair vehicle)

Damaged equipment, contamination, and stolen goods – are just some of the exposures your business may face on any given day. You can tailor coverage to address your specific inland marine risks with the right inland marine policy. In addition, we can help you determine whether or not purchasing inland marine insurance makes sense for your business. Contact us today!