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. This coverage is meant to help protect movable business property or used for transportation or communication purposes.

Inland marine insurance helps pay to repair or replace the portable business property damaged by a covered peril listed in your policy.

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

• Theft
• Fire
• Wind
• Hail
• Water damage

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, then you will have protection for it 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. They are protected under your Inland Marine coverage as they will repair or replace lost equipment.

Inland marine is a specialized form of property insurance. Therefore, not all small businesses need it. However, companies that fit the following profile should consider purchasing it:

• Frequently ship property by land.
• Occasionally ship high-value property.
• Have assets that move between business locations
• Have property stored at third-party-owned locations
• Have property in a commercial vehicle that is constantly in motion (food truck, repair vehicle) 

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